Meeder Asset Management Inc. Cuts Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Meeder Asset Management Inc. lessened its holdings in First Solar, Inc. (NASDAQ:FSLR) by 92.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 872 shares of the solar cell manufacturer’s stock after selling 10,134 shares during the quarter. Meeder Asset Management Inc.’s holdings in First Solar were worth $154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of FSLR. Clear Harbor Asset Management LLC raised its stake in First Solar by 0.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock valued at $1,623,000 after purchasing an additional 55 shares during the last quarter. Doliver Advisors LP grew its holdings in shares of First Solar by 1.2% during the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock worth $831,000 after buying an additional 56 shares in the last quarter. Smartleaf Asset Management LLC raised its position 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 valued at $47,000 after buying an additional 63 shares during the last quarter. Independent Advisor Alliance lifted its stake in shares of First Solar by 3.1% during the fourth quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock valued at $368,000 after buying an additional 63 shares during the period. Finally, Mutual Advisors LLC boosted its position in First Solar by 5.3% during the fourth quarter. Mutual Advisors LLC now owns 1,463 shares of the solar cell manufacturer’s stock worth $279,000 after acquiring an additional 73 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price target on First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley decreased their price target on First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Guggenheim lowered their price target on First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Roth Mkm reissued a “buy” rating and issued a $280.00 target price on shares of First Solar in a research report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft set a $265.00 target price on shares of First Solar in a report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $262.08.

Insider Activity

In other news, CTO Markus Gloeckler sold 380 shares of the business’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 value of $50,825.00. Following the completion of the sale, the chief technology officer now directly owns 17,594 shares in the company, valued at approximately $2,353,197.50. The trade was a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the transaction, the chief executive officer now owns 103,403 shares in the company, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,311 shares of company stock worth $4,767,158. 0.58% of the stock is currently owned by corporate insiders.

First Solar Stock Down 0.7 %

Shares of First Solar stock opened at $126.43 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar, Inc. has a 1-year low of $120.60 and a 1-year high of $306.77. The business has a 50-day moving average of $148.95 and a 200-day moving average of $184.01. The company has a market capitalization of $13.54 billion, a PE ratio of 10.89, a P/E/G ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. As a group, equities analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

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.