Comerica Bank Has $2.61 Million Position in First Solar, Inc. (NASDAQ:FSLR)

Comerica Bank lowered its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 12.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,800 shares of the solar cell manufacturer's stock after selling 2,082 shares during the quarter. Comerica Bank's holdings in First Solar were worth $2,608,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in First Solar by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer's stock valued at $2,259,697,000 after buying an additional 120,289 shares during the last quarter. Geode Capital Management LLC boosted its holdings in First Solar by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer's stock valued at $469,154,000 after acquiring an additional 63,739 shares during the last quarter. Wellington Management Group LLP increased its position in First Solar by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer's stock worth $415,899,000 after purchasing an additional 262,482 shares during the period. Invesco Ltd. raised its holdings in First Solar by 13.9% during the 4th quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer's stock worth $323,410,000 after purchasing an additional 223,933 shares during the last quarter. Finally, Amundi lifted its position in First Solar by 31.0% during the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock valued at $336,871,000 after purchasing an additional 426,797 shares during the period. Institutional investors own 92.08% of the company's stock.

Insider Buying and Selling

In other news, insider Georges Antoun sold 229 shares of First Solar stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $30,628.75. Following the transaction, the insider now owns 52,836 shares in the company, valued at approximately $7,066,815. This trade represents a 0.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Alexander R. Bradley sold 599 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $80,116.25. Following the sale, the chief financial officer now owns 45,717 shares of the company's stock, valued at approximately $6,114,648.75. This represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock valued at $4,767,158 over the last 90 days. 0.48% of the stock is owned by corporate insiders.

First Solar Stock Performance

Shares of NASDAQ FSLR traded up $6.98 during trading hours on Friday, reaching $140.74. 5,428,079 shares of the stock were exchanged, compared to its average volume of 2,897,753. The stock's fifty day simple moving average is $130.33 and its 200 day simple moving average is $163.55. The firm has a market capitalization of $15.09 billion, a price-to-earnings ratio of 12.12, a P/E/G ratio of 0.19 and a beta of 1.46. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.55). The business had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company's revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company posted $2.20 earnings per share. Sell-side analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Morgan Stanley set a $223.00 price target on shares of First Solar and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company cut their price target on First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Oppenheimer cut First Solar from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 30th. Citigroup reduced their target price on First Solar from $254.00 to $236.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Finally, Royal Bank of Canada cut their price target on shares of First Solar from $237.00 to $214.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $223.87.

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.