First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Cottage Street Advisors LLC

Cottage Street Advisors LLC decreased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 26.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,527 shares of the solar cell manufacturer’s stock after selling 1,610 shares during the period. Cottage Street Advisors LLC’s holdings in First Solar were worth $798,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FSLR. Larson Financial Group LLC grew its holdings in shares of First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares in 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 period. Crews Bank & Trust purchased a new stake in shares of First Solar during the fourth quarter worth $53,000. Hudson Edge Investment Partners Inc. acquired a new stake in shares of First Solar in the fourth quarter valued at $53,000. Finally, CoreFirst Bank & Trust purchased a new position in First Solar in the fourth quarter valued at $54,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other First Solar news, insider Georges Antoun sold 229 shares of First Solar 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 transaction, the insider now directly owns 52,836 shares of the company’s stock, valued at $7,066,815. The trade was a 0.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark R. Widmar sold 1,272 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $169,125.12. Following the completion of the sale, the chief executive officer now directly owns 109,000 shares of the company’s stock, valued at $14,492,640. The trade was a 1.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,311 shares of company stock valued at $4,767,158. 0.58% of the stock is currently owned by company insiders.

First Solar Stock Up 2.0 %

Shares of NASDAQ:FSLR opened at $131.46 on Wednesday. First Solar, Inc. has a 12-month low of $124.96 and a 12-month high of $306.77. The stock’s 50-day moving average price is $154.08 and its two-hundred day moving average price is $186.71. 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 firm has a market cap of $14.07 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last released its earnings results 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 company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. On average, research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Mizuho upgraded First Solar from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $218.00 to $259.00 in a report on Tuesday, February 11th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $230.00 price target (down from $260.00) on shares of First Solar in a report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price target on First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Morgan Stanley decreased 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 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, First Solar presently has an average rating of “Moderate Buy” and a consensus target price of $262.08.

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.