First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Perpetual Ltd

Perpetual Ltd lowered its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 23.2% during the fourth quarter, Holdings Channel reports. The firm owned 4,107 shares of the solar cell manufacturer’s stock after selling 1,244 shares during the period. Perpetual Ltd’s holdings in First Solar were worth $724,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of FSLR. AlphaMark Advisors LLC acquired a new stake in First Solar during the 3rd quarter worth $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of First Solar during the third quarter worth about $25,000. Kennebec Savings Bank purchased a new stake in shares of First Solar in the 3rd quarter valued at about $29,000. Larson Financial Group LLC boosted its position in shares of 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 purchasing an additional 107 shares during the period. Finally, Sound Income Strategies LLC grew its stake in First Solar by 555.6% during the 3rd quarter. Sound Income Strategies LLC now owns 236 shares of the solar cell manufacturer’s stock worth $59,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $171.90 on Thursday. The firm has a market capitalization of $18.40 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 0.22 and a beta of 1.49. 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 business’s 50 day simple moving average is $189.98 and its 200-day simple moving average is $208.83. First Solar, Inc. has a 12 month low of $135.88 and a 12 month high of $306.77.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.19). The firm had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the company posted $2.50 EPS. As a group, equities analysts forecast that First Solar, Inc. will post 13.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FSLR has been the subject of several research analyst reports. Wells Fargo & Company decreased their price objective on First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Piper Sandler increased their price target on shares of First Solar from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Robert W. Baird dropped their price objective on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. The Goldman Sachs Group decreased their target price on shares of First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $260.00 price target (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.75.

First Solar Company 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.