Parallel Advisors LLC Trims Holdings in First Solar, Inc. (NASDAQ:FSLR)

Parallel Advisors LLC lessened its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 6.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,254 shares of the solar cell manufacturer’s stock after selling 474 shares during the period. Parallel Advisors LLC’s holdings in First Solar were worth $1,278,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FSLR. Strengthening Families & Communities LLC bought a new stake in First Solar during the 3rd quarter valued at approximately $25,000. Larson Financial Group LLC boosted its position in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after acquiring an additional 107 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after acquiring an additional 63 shares in the last quarter. Crews Bank & Trust bought a new stake in First Solar during the 4th quarter valued at approximately $53,000. Finally, Hudson Edge Investment Partners Inc. bought a new stake in First Solar during the 4th quarter valued at approximately $53,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insiders Place Their Bets

In other First Solar news, insider Georges Antoun sold 229 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $30,628.75. Following the completion of the transaction, the insider now owns 52,836 shares of the company’s stock, valued at $7,066,815. This represents a 0.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alexander R. Bradley sold 599 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $80,116.25. Following the transaction, the chief financial officer now directly owns 45,717 shares of the company’s stock, valued at $6,114,648.75. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,311 shares of company stock worth $4,767,158. Corporate insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FSLR shares. Redburn Atlantic started coverage on First Solar in a research report on Monday, March 3rd. They set a “neutral” rating on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $230.00 price objective (down from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. JPMorgan Chase & Co. dropped their price target on First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft set a $265.00 price target on First Solar in a research report on Thursday, February 27th. Finally, Morgan Stanley dropped their price target on First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $262.08.

First Solar Trading Down 4.3 %

NASDAQ:FSLR opened at $127.34 on Wednesday. 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 $13.63 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a one year low of $124.96 and a one year high of $306.77. The business has a fifty day moving average price of $159.91 and a 200-day moving average price of $189.73.

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 the consensus estimate 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 return on equity of 17.56% and a net margin of 32.41%. Sell-side analysts forecast that First Solar, Inc. will post 13.05 EPS for the current 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.