First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 22.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 767,025 shares of the solar cell manufacturer's stock after selling 224,015 shares during the period. Legal & General Group Plc owned about 0.72% of First Solar worth $135,180,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FSLR. Smartleaf Asset Management LLC increased its stake in shares of First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock worth $47,000 after purchasing an additional 63 shares in the last quarter. Crews Bank & Trust purchased a new position in First Solar in the fourth quarter worth $53,000. Hudson Edge Investment Partners Inc. purchased a new stake in First Solar in the fourth quarter worth approximately $53,000. CoreFirst Bank & Trust bought a new stake in First Solar in the fourth quarter worth $54,000. Finally, Montag A & Associates Inc. increased its stake in First Solar by 18.8% in the 4th quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer's stock worth $84,000 after purchasing an additional 75 shares during the period. Hedge funds and other institutional investors own 92.08% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FSLR. Mizuho upgraded First Solar from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $218.00 to $259.00 in a report on Tuesday, February 11th. Wells Fargo & Company reduced their price target on First Solar from $240.00 to $209.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Morgan Stanley reduced their target price on shares of First Solar from $297.00 to $238.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Royal Bank of Canada reduced their price objective on shares of First Solar from $280.00 to $251.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Finally, StockNews.com upgraded First Solar from a "sell" rating to a "hold" rating in a research note on Thursday, January 2nd. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $251.63.

Insider Transactions at First Solar

In related news, insider Georges Antoun sold 229 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $30,628.75. Following the completion of the transaction, the insider now owns 52,836 shares in the company, valued at $7,066,815. The trade was a 0.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the sale, the chief executive officer now owns 103,403 shares of the company's stock, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,311 shares of company stock valued at $4,767,158. Corporate insiders own 0.48% of the company's stock.

First Solar Stock Up 0.3 %

Shares of FSLR traded up $0.40 during midday trading on Wednesday, reaching $127.22. 686,467 shares of the stock were exchanged, compared to its average volume of 2,732,258. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The company's 50 day moving average is $138.39 and its two-hundred day moving average is $174.42. The company has a market capitalization of $13.62 billion, a P/E ratio of 10.96, a PEG ratio of 0.19 and a beta of 1.48. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.81 by ($1.16). The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

First Solar Company 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.