First Solar, Inc. (NASDAQ:FSLR) Stake Lowered by Whittier Trust Co.

Whittier Trust Co. trimmed its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 4.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,004 shares of the solar cell manufacturer’s stock after selling 336 shares during the period. 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.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FSLR. Larson Financial Group LLC raised its stake in shares of First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after purchasing an additional 107 shares in the last quarter. Smartleaf Asset Management LLC raised its position in First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after acquiring an additional 63 shares in the last quarter. Crews Bank & Trust acquired a new stake in First Solar in the fourth quarter valued at approximately $53,000. Hudson Edge Investment Partners Inc. acquired a new position in shares of First Solar during the 4th quarter worth $53,000. Finally, Financial Avengers Inc. bought a new position in shares of First Solar during the 3rd quarter valued at $77,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FSLR. Redburn Atlantic started coverage on shares of First Solar in a report on Monday, March 3rd. They issued a “neutral” rating for the company. Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Roth Mkm restated a “buy” rating and issued a $280.00 target price on shares of First Solar in a report on Wednesday, February 26th. UBS Group lowered their price target on First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Barclays reduced their price objective on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a research note on Friday, February 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. Based on data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Stock Performance

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

First Solar (NASDAQ:FSLR) last released 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). The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. Sell-side analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Buying and Selling at First Solar

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 103,403 shares of the company’s stock, valued at approximately $14,589,129.27. The trade was a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Georges Antoun sold 229 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 transaction of $30,628.75. Following the completion of the transaction, the insider now directly owns 52,836 shares of the company’s stock, valued at approximately $7,066,815. This represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock worth $4,767,158 over the last ninety days. Corporate insiders own 0.58% of the company’s stock.

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.