Intech Investment Management LLC Sells 13,457 Shares of First Solar, Inc. (NASDAQ:FSLR)

Intech Investment Management LLC decreased its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 22.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,114 shares of the solar cell manufacturer’s stock after selling 13,457 shares during the period. Intech Investment Management LLC’s holdings in First Solar were worth $7,953,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of FSLR. CX Institutional bought a new stake in shares of First Solar during the 4th quarter valued at about $244,000. Pacer Advisors Inc. boosted its stake in shares of First Solar by 68.9% during the 4th quarter. Pacer Advisors Inc. now owns 10,711 shares of the solar cell manufacturer’s stock valued at $1,845,000 after purchasing an additional 4,369 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of First Solar by 504.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock valued at $68,852,000 after purchasing an additional 333,496 shares in the last quarter. Vision Capital Management Inc. bought a new stake in First Solar during the fourth quarter worth about $223,000. Finally, PFG Investments LLC boosted its stake in First Solar by 9.4% during the fourth quarter. PFG Investments LLC now owns 2,934 shares of the solar cell manufacturer’s stock worth $505,000 after acquiring an additional 251 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

Insider Buying and Selling

In other First Solar news, Director Richard D. Chapman sold 3,165 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $190.48, for a total transaction of $602,869.20. Following the completion of the transaction, the director now owns 1,045 shares in the company, valued at $199,051.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other First Solar news, Director Richard D. Chapman sold 3,165 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $190.48, for a total transaction of $602,869.20. Following the completion of the transaction, the director now owns 1,045 shares in the company, valued at $199,051.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alexander R. Bradley sold 16,051 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the transaction, the chief financial officer now owns 30,652 shares of the company’s stock, valued at approximately $8,419,797.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,153 shares of company stock worth $12,540,428. 0.58% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FSLR shares. BMO Capital Markets boosted their price objective on shares of First Solar from $224.00 to $311.00 and gave the stock an “outperform” rating in a research note on Monday, June 10th. Evercore ISI raised shares of First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price objective for the company in a report on Tuesday, April 23rd. Jefferies Financial Group boosted their price objective on shares of First Solar from $209.50 to $211.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Janney Montgomery Scott cut shares of First Solar from a “buy” rating to a “neutral” rating in a report on Tuesday, June 18th. Finally, The Goldman Sachs Group upped their target price on shares of First Solar from $268.00 to $302.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and a consensus price target of $272.72.

First Solar Price Performance

Shares of NASDAQ:FSLR traded up $2.85 during midday trading on Friday, reaching $216.43. 2,565,198 shares of the company were exchanged, compared to its average volume of 2,824,502. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average is $244.29 and its two-hundred day moving average is $190.97. First Solar, Inc. has a one year low of $129.21 and a one year high of $306.77. The stock has a market cap of $23.17 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 0.28 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last issued its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The firm had revenue of $794.10 million during the quarter, compared to analyst estimates of $718.19 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. First Solar’s revenue for the quarter was up 44.8% on a year-over-year basis. As a group, analysts predict that First Solar, Inc. will post 13.57 earnings per share for the current year.

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.