Robeco Institutional Asset Management B.V. Trims Holdings in First Solar, Inc. $FSLR

Key Points

• Robeco Institutional Asset Management trimmed its stake in First Solar by 6.0% to 204,490 shares (about $53.4M) in Q4, while other large institutions (Vanguard, Viking, Amundi) increased positions, leaving roughly 92.08% of the stock held by institutions.
• Company insiders have been selling: CEO Mark Widmar and CFO Alexander Bradley recently sold shares, and insiders disposed of 75,989 shares (≈$14.92M) in the last three months, leaving insiders with just 0.39% ownership.
• First Solar missed EPS ($4.84 vs. $5.22) but beat revenue ($1.68B) for the quarter, and analysts maintain a "Moderate Buy" consensus with an average price target of $246.13 despite several recent price cuts.

Robeco Institutional Asset Management B.V. trimmed its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,490 shares of the solar cell manufacturer's stock after selling 13,117 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.19% of First Solar worth $53,419,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in First Solar by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer's stock valued at $3,026,108,000 after purchasing an additional 464,130 shares in the last quarter. Viking Global Investors LP lifted its holdings in First Solar by 60.6% in the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer's stock valued at $375,122,000 after purchasing an additional 854,919 shares in the last quarter. Amundi lifted its holdings in First Solar by 38.6% in the 3rd quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer's stock valued at $459,917,000 after purchasing an additional 564,032 shares in the last quarter. Northern Trust Corp lifted its holdings in First Solar by 2.6% in the 3rd quarter. Northern Trust Corp now owns 1,349,531 shares of the solar cell manufacturer's stock valued at $297,612,000 after purchasing an additional 34,313 shares in the last quarter. Finally, Clean Energy Transition LLP lifted its holdings in First Solar by 48.2% in the 3rd quarter. Clean Energy Transition LLP now owns 1,117,228 shares of the solar cell manufacturer's stock valued at $246,382,000 after purchasing an additional 363,274 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at First Solar

In related news, CEO Mark R. Widmar sold 7,738 shares of the firm's stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $195.93, for a total value of $1,516,106.34. Following the transaction, the chief executive officer owned 91,787 shares in the company, valued at approximately $17,983,826.91. This trade represents a 7.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Alexander R. Bradley sold 14,106 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $199.97, for a total transaction of $2,820,776.82. Following the completion of the transaction, the chief financial officer owned 30,000 shares in the company, valued at $5,999,100. The trade was a 31.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 75,989 shares of company stock valued at $14,921,902 in the last three months. 0.39% of the stock is owned by company insiders.

First Solar Trading Down 1.5%

NASDAQ FSLR opened at $200.35 on Tuesday. First Solar, Inc. has a one year low of $119.09 and a one year high of $285.99. The company's 50 day moving average price is $207.55 and its 200 day moving average price is $234.87. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.35 and a current ratio of 2.67. The firm has a market capitalization of $21.53 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.43 and a beta of 1.61.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 EPS for the quarter, missing the consensus estimate of $5.22 by ($0.38). First Solar had a net margin of 29.28% and a return on equity of 17.32%. The business had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same quarter in the previous year, the business posted $3.65 EPS. The company's quarterly revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FSLR. Guggenheim reduced their target price on shares of First Solar from $312.00 to $269.00 and set a "buy" rating on the stock in a report on Tuesday, March 17th. The Goldman Sachs Group cut their price objective on shares of First Solar from $316.00 to $300.00 and set a "buy" rating on the stock in a report on Wednesday, February 25th. Wells Fargo & Company cut their price objective on shares of First Solar from $285.00 to $255.00 and set an "overweight" rating on the stock in a report on Thursday, February 26th. Zacks Research lowered shares of First Solar from a "hold" rating to a "strong sell" rating in a report on Monday, March 16th. Finally, Jefferies Financial Group cut their price objective on shares of First Solar from $205.00 to $187.00 and set a "hold" rating on the stock in a report on Tuesday, April 7th. Twenty research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $246.13.

About First Solar

First Solar, Inc NASDAQ: FSLR is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.

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