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

US Bancorp DE lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,356 shares of the solar cell manufacturer’s stock after selling 2,757 shares during the period. US Bancorp DE’s holdings in First Solar were worth $4,116,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. National Pension Service lifted its position in shares of First Solar by 6.7% during the 3rd quarter. National Pension Service now owns 185,883 shares of the solar cell manufacturer’s stock valued at $46,367,000 after acquiring an additional 11,683 shares during the period. Asset Management One Co. Ltd. lifted its position in shares of First Solar by 2.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 41,934 shares of the solar cell manufacturer’s stock valued at $10,460,000 after acquiring an additional 904 shares during the period. QRG Capital Management Inc. lifted its position in shares of First Solar by 29.2% during the 3rd quarter. QRG Capital Management Inc. now owns 2,307 shares of the solar cell manufacturer’s stock valued at $576,000 after acquiring an additional 522 shares during the period. Moloney Securities Asset Management LLC acquired a new stake in shares of First Solar during the 3rd quarter valued at approximately $216,000. Finally, JNBA Financial Advisors lifted its position in shares of First Solar by 6.0% during the 3rd quarter. JNBA Financial Advisors now owns 3,086 shares of the solar cell manufacturer’s stock valued at $770,000 after acquiring an additional 175 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Activity

In related news, CEO Mark R. Widmar sold 21,542 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kuntal Kumar Verma sold 7,475 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the sale, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. This trade represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.

First Solar Stock Down 0.3 %

Shares of NASDAQ FSLR opened at $130.90 on Thursday. First Solar, Inc. has a 52-week low of $124.96 and a 52-week high of $306.77. The firm has a fifty day moving average of $170.10 and a 200-day moving average of $196.30. The stock has a market capitalization of $14.01 billion, a PE ratio of 11.27, a P/E/G ratio of 0.19 and a beta of 1.47. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FSLR shares. Seaport Res Ptn upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. BMO Capital Markets reiterated an “outperform” rating and set a $230.00 price target (down from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. UBS Group reduced their price target on shares of First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Robert W. Baird cut their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Finally, Morgan Stanley cut their price objective on First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $262.08.

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.