Robeco Institutional Asset Management B.V. Decreases Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Robeco Institutional Asset Management B.V. cut its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 78.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,310 shares of the solar cell manufacturer's stock after selling 468,957 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.12% of First Solar worth $15,969,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in FSLR. Garde Capital Inc. acquired a new position in First Solar in the first quarter valued at approximately $25,000. Smartleaf Asset Management LLC boosted its holdings in shares of First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after buying an additional 63 shares in the last quarter. Princeton Global Asset Management LLC purchased a new position in shares of First Solar in the 1st quarter valued at $51,000. Banque Transatlantique SA purchased a new stake in First Solar in the fourth quarter valued at $53,000. Finally, CoreFirst Bank & Trust acquired a new position in First Solar in the fourth quarter valued at $54,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FSLR shares. Guggenheim reduced their target price on First Solar from $253.00 to $202.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Robert W. Baird reduced their price objective on First Solar from $267.00 to $240.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Redburn Atlantic assumed coverage on shares of First Solar in a report on Monday, March 3rd. They issued a "neutral" rating on the stock. Truist Financial reissued a "buy" rating and set a $200.00 price objective (down from $245.00) on shares of First Solar in a research report on Thursday, May 1st. Finally, Glj Research upgraded shares of First Solar from a "hold" rating to a "buy" rating and set a $172.37 price objective on the stock in a research note on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $229.19.

Insider Transactions at First Solar

In related news, CTO Markus Gloeckler sold 9,557 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the transaction, the chief technology officer now directly owns 8,037 shares in the company, valued at approximately $1,246,136.85. This represents a 54.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Patrick James Buehler sold 1,868 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $149.08, for a total transaction of $278,481.44. Following the transaction, the insider now directly owns 5,998 shares of the company's stock, valued at approximately $894,181.84. This represents a 23.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,376 shares of company stock worth $2,227,172 over the last ninety days. 0.48% of the stock is currently owned by corporate insiders.

First Solar Stock Down 2.2%

FSLR opened at $152.14 on Friday. The company has a market cap of $16.32 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 0.30 and a beta of 1.53. First Solar, Inc. has a one year low of $116.56 and a one year high of $262.72. The business's fifty day moving average is $152.61 and its two-hundred day moving average is $155.25. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.39 and a current ratio of 1.93.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). First Solar had a net margin of 29.72% and a return on equity of 16.32%. The company had revenue of $844.57 million for the quarter, compared to analyst estimates of $863.11 million. During the same quarter last year, the company posted $2.20 EPS. First Solar's quarterly revenue was up 6.4% compared to the same quarter last year. Analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

First Solar Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.

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