Vectors Research Management LLC Sells 1,448 Shares of First Solar, Inc. (NASDAQ:FSLR)

Vectors Research Management LLC cut its stake in First Solar, Inc. (NASDAQ:FSLR) by 9.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 13,446 shares of the solar cell manufacturer’s stock after selling 1,448 shares during the period. Vectors Research Management LLC’s holdings in First Solar were worth $2,370,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in First Solar by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer’s stock valued at $2,259,697,000 after purchasing an additional 120,289 shares in the last quarter. Geode Capital Management LLC increased its position in shares of First Solar by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer’s stock valued at $469,154,000 after buying an additional 63,739 shares in the last quarter. Wellington Management Group LLP raised its stake in First Solar by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer’s stock worth $415,899,000 after buying an additional 262,482 shares during the period. Invesco Ltd. lifted its holdings in First Solar by 13.9% during the fourth quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer’s stock worth $323,410,000 after acquiring an additional 223,933 shares in the last quarter. Finally, Amundi grew its stake in First Solar by 31.0% in the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock valued at $336,871,000 after acquiring an additional 426,797 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Mark R. Widmar sold 21,542 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the sale, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Markus Gloeckler sold 380 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $50,825.00. Following the transaction, 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. Insiders sold 34,311 shares of company stock worth $4,767,158 over the last three months. 0.48% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Redburn Atlantic assumed coverage on First Solar in a report on Monday, March 3rd. They set a “neutral” rating on the stock. Guggenheim cut their target price on shares of First Solar from $304.00 to $253.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Susquehanna lowered their price target on shares of First Solar from $223.00 to $217.00 and set a “positive” rating for the company in a report on Monday, April 14th. Royal Bank of Canada dropped their price target on First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $280.00 target price on shares of First Solar in a report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $251.63.

First Solar Trading Up 2.9 %

FSLR opened at $127.98 on Monday. The company has a fifty day moving average price of $136.14 and a two-hundred day moving average price of $171.59. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $306.77. The company has a market cap of $13.70 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. 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 posted 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 return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

First Solar Company 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.