Pinebridge Investments L.P. Has $2.47 Million Position in First Solar, Inc. (NASDAQ:FSLR)

Pinebridge Investments L.P. reduced its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 64.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,988 shares of the solar cell manufacturer's stock after selling 24,847 shares during the quarter. Pinebridge Investments L.P.'s holdings in First Solar were worth $2,465,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 120,289 shares during the period. Geode Capital Management LLC grew its holdings in shares of First Solar by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer's stock worth $469,154,000 after buying an additional 63,739 shares in the last quarter. Wellington Management Group LLP raised its position in First Solar by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer's stock valued at $415,899,000 after buying an additional 262,482 shares during the last quarter. Invesco Ltd. boosted its position 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 acquiring an additional 223,933 shares during the last quarter. Finally, Amundi grew its stake in shares of First Solar by 31.0% during the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock worth $336,871,000 after acquiring an additional 426,797 shares in the last quarter. Institutional investors own 92.08% of the company's stock.

First Solar Price Performance

Shares of FSLR traded down $11.42 during trading hours on Wednesday, reaching $125.82. The stock had a trading volume of 13,726,432 shares, compared to its average volume of 2,843,664. 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, Inc. has a 12 month low of $116.56 and a 12 month high of $306.77. The stock has a market capitalization of $13.49 billion, a PE ratio of 10.84, a PEG ratio of 0.19 and a beta of 1.48. The company's 50-day moving average is $132.48 and its two-hundred day moving average is $167.74.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its 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 firm had revenue of $844.57 million during the quarter, compared to the consensus estimate of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. First Solar's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.20 earnings per share. Research analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FSLR shares. Mizuho upgraded shares of 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 research note on Tuesday, February 11th. Bank of America decreased their target price on shares of First Solar from $236.00 to $215.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley set a $223.00 price target on shares of First Solar and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. Robert W. Baird decreased their price objective on shares of First Solar from $267.00 to $240.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. dropped their target price on shares of First Solar from $282.00 to $268.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, First Solar presently has an average rating of "Moderate Buy" and a consensus price target of $229.54.

Insiders Place Their Bets

In other First Solar news, insider Kuntal Kumar Verma sold 419 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $132.96, for a total value of $55,710.24. Following the transaction, the insider now directly owns 4,695 shares of the company's stock, valued at approximately $624,247.20. The trade was a 8.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark R. Widmar sold 1,966 shares of First Solar stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $262,952.50. Following the completion of the sale, the chief executive officer now owns 111,890 shares of the company's stock, valued at $14,965,287.50. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock valued at $4,767,158 in the last ninety days. 0.48% of the stock is currently owned by insiders.

About First Solar

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.