Whittier Trust Co. Has $1.23 Million Holdings in First Solar, Inc. (NASDAQ:FSLR)

Whittier Trust Co. decreased its stake in First Solar, Inc. (NASDAQ:FSLR) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,004 shares of the solar cell manufacturer’s stock after selling 336 shares during the quarter. Whittier Trust Co.’s holdings in First Solar were worth $1,234,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clear Harbor Asset Management LLC raised its holdings in shares of First Solar by 0.6% in the fourth 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 position in First Solar by 1.2% in the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock valued at $831,000 after purchasing an additional 56 shares in the last quarter. Smartleaf Asset Management LLC increased its stake 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 last quarter. Independent Advisor Alliance lifted its position in First Solar by 3.1% during the 4th quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock worth $368,000 after buying an additional 63 shares in the last quarter. Finally, Mutual Advisors LLC boosted its stake in shares of First Solar by 5.3% during the 4th quarter. Mutual Advisors LLC now owns 1,463 shares of the solar cell manufacturer’s stock worth $279,000 after buying an additional 73 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

Insider Activity

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This represents a 17.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Markus Gloeckler sold 380 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $50,825.00. Following the sale, the chief technology officer now owns 17,594 shares in the company, valued at approximately $2,353,197.50. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,311 shares of company stock worth $4,767,158. Corporate insiders own 0.58% of the company’s stock.

First Solar Price Performance

FSLR stock opened at $131.32 on Friday. The company’s 50-day moving average price is $156.26 and its two-hundred day moving average price is $188.05. The firm has a market cap of $14.06 billion, a P/E ratio of 11.31, a P/E/G ratio of 0.19 and a beta of 1.52. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 12 month low of $124.96 and a 12 month high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data 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 the consensus estimate of $1.48 billion. On average, analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on FSLR shares. Robert W. Baird dropped their target price on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Bank of America cut their price objective on First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $218.00 to $259.00 in a report on Tuesday, February 11th. UBS Group cut their price target on shares of First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Redburn Atlantic began coverage on shares of First Solar in a research note on Monday, March 3rd. They set a “neutral” rating on the stock. 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.