First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Signaturefd LLC

Signaturefd LLC cut its holdings in First Solar, Inc. (NASDAQ:FSLR) by 72.4% during the fourth quarter, HoldingsChannel reports. The fund owned 883 shares of the solar cell manufacturer’s stock after selling 2,312 shares during the period. Signaturefd LLC’s holdings in First Solar were worth $156,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in FSLR. Wellington Management Group LLP lifted its stake in First Solar by 75.8% during the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after purchasing an additional 904,498 shares in the last quarter. Amundi lifted its stake in First Solar by 31.0% during the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock worth $336,871,000 after purchasing an additional 426,797 shares in the last quarter. Merewether Investment Management LP lifted its stake in First Solar by 993.4% during the third quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock worth $80,553,000 after purchasing an additional 293,400 shares in the last quarter. Erste Asset Management GmbH acquired a new position in First Solar during the third quarter worth $67,652,000. Finally, Handelsbanken Fonder AB lifted its stake in First Solar by 110.4% during the fourth quarter. Handelsbanken Fonder AB now owns 375,010 shares of the solar cell manufacturer’s stock worth $66,092,000 after purchasing an additional 196,744 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Price Performance

Shares of FSLR opened at $131.32 on Friday. First Solar, Inc. has a fifty-two week low of $124.96 and a fifty-two week high of $306.77. The company has a market capitalization of $14.06 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The firm has a 50-day simple moving average of $156.26 and a 200-day simple moving average of $188.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. On average, equities research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FSLR. Bank of America cut their price objective on First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Piper Sandler cut their price objective on First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on First Solar in a research report on Thursday, February 27th. JPMorgan Chase & Co. cut their price objective 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. Finally, Guggenheim cut their price objective on First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Four research 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 stock. According to data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and an average price target of $262.08.

Insider Transactions at First Solar

In other news, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the sale, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Georges Antoun sold 229 shares of the firm’s 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 sale, the insider now owns 52,836 shares of the company’s stock, valued at approximately $7,066,815. The trade was a 0.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,311 shares of company stock worth $4,767,158. Company insiders own 0.58% of the company’s stock.

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.