Motley Fool Asset Management LLC Sells 69 Shares of First Solar, Inc. (NASDAQ:FSLR)

Motley Fool Asset Management LLC lessened its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 4.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,663 shares of the solar cell manufacturer’s stock after selling 69 shares during the quarter. Motley Fool Asset Management LLC’s holdings in First Solar were worth $281,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FSLR. Blue Trust Inc. grew its holdings in First Solar by 24.3% during the 4th quarter. Blue Trust Inc. now owns 445 shares of the solar cell manufacturer’s stock valued at $71,000 after buying an additional 87 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in First Solar by 25.8% during the 4th quarter. Pinnacle Associates Ltd. now owns 2,213 shares of the solar cell manufacturer’s stock valued at $381,000 after buying an additional 454 shares in the last quarter. Oak Thistle LLC purchased a new position in First Solar during the 4th quarter valued at approximately $354,000. State of Michigan Retirement System grew its holdings in First Solar by 9.2% during the 4th quarter. State of Michigan Retirement System now owns 32,000 shares of the solar cell manufacturer’s stock valued at $5,513,000 after buying an additional 2,700 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in First Solar by 0.7% during the 4th quarter. Arizona State Retirement System now owns 27,894 shares of the solar cell manufacturer’s stock valued at $4,806,000 after buying an additional 207 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

Analysts Set New Price Targets

FSLR has been the subject of a number of recent research reports. Susquehanna lifted their target price on First Solar from $258.00 to $285.00 and gave the stock a “positive” rating in a report on Wednesday, July 3rd. Wells Fargo & Company upgraded First Solar from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $187.00 to $250.00 in a report on Friday, April 19th. Piper Sandler lifted their target price on First Solar from $219.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $315.00 target price on shares of First Solar in a report on Wednesday. Finally, Jefferies Financial Group boosted their price objective on First Solar from $209.50 to $211.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Four investment 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, First Solar has a consensus rating of “Moderate Buy” and a consensus price target of $273.00.

First Solar Price Performance

NASDAQ FSLR traded up $1.43 during trading hours on Thursday, reaching $217.42. The company’s stock had a trading volume of 1,094,697 shares, compared to its average volume of 2,527,693. The company’s 50-day moving average is $246.97 and its two-hundred day moving average is $194.04. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77. The firm has a market capitalization of $23.27 billion, a price-to-earnings ratio of 22.64, a P/E/G ratio of 0.28 and a beta of 1.44. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. First Solar had a return on equity of 18.15% and a net margin of 31.98%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $939.71 million. During the same quarter in the prior year, the firm earned $1.85 earnings per share. The business’s revenue was up 24.6% compared to the same quarter last year. On average, equities analysts predict that First Solar, Inc. will post 13.58 EPS for the current year.

Insider Activity at First Solar

In related news, Director Richard D. Chapman sold 3,165 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $190.48, for a total value of $602,869.20. Following the completion of the transaction, the director now directly owns 1,045 shares in the company, valued at $199,051.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director R Craig Kennedy sold 2,000 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $196.73, for a total value of $393,460.00. Following the sale, the director now directly owns 13,908 shares in the company, valued at $2,736,120.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $602,869.20. Following the completion of the sale, the director now owns 1,045 shares in the company, valued at $199,051.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,153 shares of company stock valued at $12,540,428. 0.58% of the stock is currently owned by insiders.

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.