Zurcher Kantonalbank Zurich Cantonalbank Sells 28,659 Shares of First Solar, Inc. $FSLR

Key Points

• Zurcher Kantonalbank trimmed its stake in First Solar by 7.7%, selling 28,659 shares and now holds 344,599 shares (~0.32%) valued at $90.02 million.
• First Solar posted Q4 EPS of $4.84 (miss vs. $5.22) but revenue of $1.68 billion beat estimates, the company showed strong margins, and analysts maintain a consensus "Moderate Buy" with a $246.13 price target and a current-year EPS forecast of 13.05.
• Insiders have been net sellers (76,562 shares sold, ~$15.04M in the last 90 days), leaving insiders with 0.39% ownership while institutional investors hold about 92.08% of the stock.

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 344,599 shares of the solar cell manufacturer's stock after selling 28,659 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.32% of First Solar worth $90,020,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Woodline Partners LP raised its stake in First Solar by 40.7% in the first quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer's stock valued at $1,143,000 after purchasing an additional 2,615 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in First Solar by 50.9% during the second quarter. EverSource Wealth Advisors LLC now owns 516 shares of the solar cell manufacturer's stock worth $85,000 after buying an additional 174 shares in the last quarter. Brown Advisory Inc. increased its holdings in First Solar by 84.3% in the 2nd quarter. Brown Advisory Inc. now owns 4,529 shares of the solar cell manufacturer's stock valued at $750,000 after buying an additional 2,072 shares during the period. Cerity Partners LLC bought a new position in First Solar in the 2nd quarter valued at about $494,000. Finally, AXA S.A. grew its holdings in shares of First Solar by 6.3% during the 2nd quarter. AXA S.A. now owns 18,862 shares of the solar cell manufacturer's stock valued at $3,122,000 after purchasing an additional 1,115 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Stock Performance

Shares of FSLR stock opened at $190.44 on Monday. 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 cap of $20.46 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 0.41 and a beta of 1.61. First Solar, Inc. has a 52 week low of $119.09 and a 52 week high of $285.99. The firm's 50-day simple moving average is $204.51 and its two-hundred day simple moving average is $234.09.

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

Insider Activity at First Solar

In other news, insider Kuntal Kumar Verma sold 573 shares of First Solar stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $210.00, for a total transaction of $120,330.00. Following the completion of the sale, the insider directly owned 8,863 shares of the company's stock, valued at approximately $1,861,230. The trade was a 6.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark R. Widmar sold 1,937 shares of First Solar stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $200.80, for a total value of $388,949.60. Following the sale, the chief executive officer directly owned 102,798 shares of the company's stock, valued at approximately $20,641,838.40. This trade represents a 1.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 76,562 shares of company stock valued at $15,042,232 in the last ninety days. 0.39% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Argus cut their price objective on First Solar from $300.00 to $250.00 and set a "buy" rating on the stock in a report on Tuesday, March 3rd. Wall Street Zen lowered shares of First Solar from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. BMO Capital Markets reduced their price objective on shares of First Solar from $263.00 to $252.00 and set a "market perform" rating for the company in a research report on Friday, March 27th. Guggenheim reduced their target price on First Solar from $312.00 to $269.00 and set a "buy" rating for the company in a research note on Tuesday, March 17th. Finally, Freedom Capital lowered shares of First Solar from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 26th. Twenty investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $246.13.

First Solar Company Profile

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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