Capital Research Global Investors Reduces Stock Position in First Solar, Inc. $FSLR

Capital Research Global Investors lowered its stake in First Solar, Inc. (NASDAQ:FSLR) by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 699,462 shares of the solar cell manufacturer’s stock after selling 56,070 shares during the quarter. Capital Research Global Investors’ holdings in First Solar were worth $182,720,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aventura Private Wealth LLC purchased a new stake in First Solar in the fourth quarter worth approximately $25,000. Larson Financial Group LLC boosted its holdings in First Solar by 117.0% in the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Elyxium Wealth LLC purchased a new stake in First Solar in the fourth quarter worth approximately $30,000. Strategic Wealth Investment Group LLC purchased a new stake in First Solar in the second quarter worth approximately $26,000. Finally, Rothschild Investment LLC boosted its holdings in First Solar by 212.3% in the fourth quarter. Rothschild Investment LLC now owns 178 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Trading Down 1.3%

Shares of First Solar stock opened at $275.39 on Tuesday. The company’s fifty day simple moving average is $226.39 and its 200-day simple moving average is $233.17. The stock has a market capitalization of $29.59 billion, a PE ratio of 17.79, a P/E/G ratio of 0.62 and a beta of 1.70. First Solar, Inc. has a 1-year low of $135.50 and a 1-year high of $320.95. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.35. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The company’s revenue was up 23.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.95 EPS. As a group, equities analysts anticipate that First Solar, Inc. will post 17.61 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other news, General Counsel Jason E. Dymbort sold 9,022 shares of First Solar stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $199.62, for a total transaction of $1,800,971.64. Following the transaction, the general counsel owned 9,850 shares in the company, valued at $1,966,257. This trade represents a 47.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 9,926 shares of First Solar stock in a transaction on Monday, May 11th. The shares were sold at an average price of $233.21, for a total transaction of $2,314,842.46. Following the transaction, the chief executive officer owned 95,148 shares in the company, valued at approximately $22,189,465.08. This trade represents a 9.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 60,694 shares of company stock worth $13,659,583. Insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FSLR shares. Needham & Company LLC raised their target price on shares of First Solar from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. TD Cowen dropped their target price on shares of First Solar from $320.00 to $253.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft cut shares of First Solar from a “buy” rating to a “hold” rating and dropped their target price for the stock from $300.00 to $245.00 in a report on Wednesday, February 25th. Morgan Stanley dropped their price target on shares of First Solar from $275.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 28th. Finally, Barclays dropped their price target on shares of First Solar from $228.00 to $213.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $247.40.

About First Solar

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.