Virtu Financial LLC Decreases Stake in First Solar, Inc. (NASDAQ:FSLR)

Virtu Financial LLC reduced its position in First Solar, Inc. (NASDAQ:FSLR) by 22.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,266 shares of the solar cell manufacturer’s stock after selling 1,775 shares during the period. Virtu Financial LLC’s holdings in First Solar were worth $1,104,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its position in First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after buying an additional 107 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after buying an additional 63 shares during the last quarter. Crews Bank & Trust purchased a new position in First Solar in the 4th quarter valued at about $53,000. Hudson Edge Investment Partners Inc. bought a new position in shares of First Solar during the fourth quarter worth about $53,000. Finally, Financial Avengers Inc. bought a new position in shares of First Solar during the third quarter worth about $77,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Roth Mkm reaffirmed a “buy” rating and set a $280.00 price target on shares of First Solar in a research report on Wednesday, February 26th. Guggenheim reduced their price target on shares of First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada reduced their price target on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average target price of $262.08.

Insider Activity at First Solar

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the completion of the sale, the insider now directly owns 3,549 shares in the company, valued at approximately $484,793.40. This trade represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark R. Widmar sold 1,966 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $262,952.50. Following the sale, the chief executive officer now owns 111,890 shares of the company’s stock, valued at $14,965,287.50. The trade was a 1.73 % 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 worth $4,767,158 over the last quarter. 0.58% of the stock is currently owned by company insiders.

First Solar Price Performance

NASDAQ FSLR opened at $131.32 on Monday. First Solar, Inc. has a 12 month low of $124.96 and a 12 month high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The firm has a market capitalization of $14.06 billion, a PE ratio of 11.31, a P/E/G ratio of 0.19 and a beta of 1.52. The company’s 50 day simple moving average is $156.26 and its 200 day simple moving average is $187.86.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.48 billion. As a group, equities research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

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.