First Solar, Inc. $FSLR Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group reduced its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,326,197 shares of the solar cell manufacturer’s stock after selling 23,887 shares during the period. Schroder Investment Management Group owned about 1.24% of First Solar worth $292,466,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of FSLR. Linden Thomas Advisory Services LLC lifted its stake in First Solar by 1.7% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer’s stock worth $504,000 after acquiring an additional 39 shares in the last quarter. Signaturefd LLC increased its stake in First Solar by 2.6% during the third quarter. Signaturefd LLC now owns 1,879 shares of the solar cell manufacturer’s stock worth $414,000 after purchasing an additional 47 shares during the period. Figure 8 Investment Strategies LLC increased its stake in First Solar by 0.6% during the third quarter. Figure 8 Investment Strategies LLC now owns 8,116 shares of the solar cell manufacturer’s stock worth $1,790,000 after purchasing an additional 48 shares during the period. Rathbones Group PLC lifted its position in shares of First Solar by 1.0% during the third quarter. Rathbones Group PLC now owns 4,930 shares of the solar cell manufacturer’s stock worth $1,087,000 after purchasing an additional 51 shares in the last quarter. Finally, Hemington Wealth Management boosted its stake in shares of First Solar by 22.9% in the third quarter. Hemington Wealth Management now owns 306 shares of the solar cell manufacturer’s stock valued at $67,000 after purchasing an additional 57 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FSLR has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft downgraded shares of First Solar from a “buy” rating to a “hold” rating and cut their target price for the stock from $300.00 to $245.00 in a research note on Wednesday, February 25th. Raymond James Financial started coverage on shares of First Solar in a research note on Monday, January 12th. They issued a “market perform” rating for the company. Guggenheim increased their price objective on First Solar from $289.00 to $312.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Daiwa Securities Group boosted their target price on First Solar from $215.00 to $284.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Finally, Evercore cut their price target on First Solar from $241.00 to $212.00 in a report on Thursday. Twenty research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and an average target price of $249.65.

First Solar Price Performance

First Solar stock opened at $189.21 on Monday. The stock has a market cap of $20.30 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 0.30 and a beta of 1.65. The company has a fifty day simple moving average of $234.09 and a 200-day simple moving average of $236.42. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $285.99. The company has a current ratio of 2.67, a quick ratio of 2.35 and a debt-to-equity ratio of 0.03.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 EPS for the quarter, missing the consensus estimate of $5.22 by ($0.38). First Solar had a net margin of 29.28% and a return on equity of 17.32%. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period last year, the company earned $3.65 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, General Counsel Jason E. Dymbort sold 3,273 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $195.93, for a total value of $641,278.89. Following the transaction, the general counsel owned 16,625 shares in the company, valued at approximately $3,257,336.25. This represents a 16.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kuntal Kumar Verma sold 3,426 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $195.93, for a total value of $671,256.18. Following the sale, the insider directly owned 8,334 shares in the company, valued at $1,632,880.62. This trade represents a 29.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 31,975 shares of company stock worth $6,267,492. Corporate insiders own 0.48% of the company’s stock.

First Solar Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.