First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Wellington Shields & Co. LLC

Wellington Shields & Co. LLC decreased its position in First Solar, Inc. (NASDAQ:FSLR) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,495 shares of the solar cell manufacturer’s stock after selling 84 shares during the quarter. Wellington Shields & Co. LLC’s holdings in First Solar were worth $792,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Strengthening Families & Communities LLC acquired a new position in First Solar during the 3rd quarter valued at approximately $25,000. Larson Financial Group LLC boosted its position in First Solar by 214.0% during 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. Smartleaf Asset Management LLC boosted its position in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after purchasing an additional 63 shares during the period. Crews Bank & Trust acquired a new position in First Solar during the 4th quarter valued at approximately $53,000. Finally, Hudson Edge Investment Partners Inc. acquired a new position in First Solar during the 4th quarter valued at approximately $53,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of FSLR stock opened at $132.51 on Friday. First Solar, Inc. has a 1-year low of $124.96 and a 1-year high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $14.19 billion, a price-to-earnings ratio of 11.41, a P/E/G ratio of 0.19 and a beta of 1.52. The stock’s fifty day simple moving average is $162.48 and its 200-day simple moving average is $191.64.

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

Insider Activity

In other First Solar news, insider Kuntal Kumar Verma sold 7,475 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the transaction, the insider now owns 3,549 shares in the company, valued at $484,793.40. The trade was a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were 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 in the company, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,739 shares of company stock worth $4,289,403. 0.58% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FSLR shares. BMO Capital Markets reiterated an “outperform” rating and set a $230.00 price target (down previously from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. Royal Bank of Canada reduced their price target on First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Guggenheim dropped their price objective on First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Bank of America dropped their price objective on First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Four equities research 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 company’s stock. Based on data from MarketBeat, First Solar has an average rating of “Moderate Buy” and a consensus price target 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.