First Solar, Inc. (NASDAQ:FSLR) Shares Sold by US Bancorp DE

US Bancorp DE lessened its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 6.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,919 shares of the solar cell manufacturer's stock after selling 1,437 shares during the quarter. US Bancorp DE's holdings in First Solar were worth $2,771,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Garde Capital Inc. purchased a new position in shares of First Solar in the 1st quarter worth approximately $25,000. Larson Financial Group LLC boosted its holdings in shares of First Solar by 591.9% in the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock worth $32,000 after purchasing an additional 219 shares during the period. Banque Transatlantique SA purchased a new position in shares of First Solar in the 4th quarter worth approximately $53,000. Abound Financial LLC purchased a new position in shares of First Solar in the 1st quarter worth approximately $45,000. Finally, Princeton Global Asset Management LLC purchased a new position in shares of First Solar in the 1st quarter worth approximately $51,000. Hedge funds and other institutional investors own 92.08% of the company's stock.

Insider Transactions at First Solar

In other news, insider Michael Koralewski sold 2,951 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total value of $466,877.71. Following the completion of the transaction, the insider directly owned 11,369 shares of the company's stock, valued at approximately $1,798,689.49. The trade was a 20.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Markus Gloeckler sold 9,557 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total value of $1,481,812.85. Following the completion of the transaction, the chief technology officer directly owned 8,037 shares of the company's stock, valued at approximately $1,246,136.85. The trade was a 54.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,976 shares of company stock valued at $2,515,172. Corporate insiders own 0.48% of the company's stock.

Wall Street Analyst Weigh In

FSLR has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on First Solar from $200.00 to $208.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Piper Sandler dropped their target price on First Solar from $230.00 to $205.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Wolfe Research upgraded First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price objective for the company in a report on Tuesday, May 13th. Morgan Stanley set a $223.00 price objective on First Solar and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Finally, UBS Group restated a "buy" rating and set a $275.00 price objective (up previously from $255.00) on shares of First Solar in a report on Tuesday, August 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, First Solar has a consensus rating of "Moderate Buy" and an average price target of $222.67.

First Solar Stock Down 0.5%

Shares of FSLR traded down $0.95 during trading hours on Friday, hitting $184.65. The company had a trading volume of 1,629,586 shares, compared to its average volume of 2,623,156. The company has a market capitalization of $19.80 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 0.36 and a beta of 1.48. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a one year low of $116.56 and a one year high of $262.72. The company's fifty day moving average price is $168.61 and its two-hundred day moving average price is $153.12.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping the consensus estimate of $2.68 by $0.50. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.25 EPS. As a group, equities analysts forecast that First Solar, Inc. will post 13.05 earnings per share 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.