DnB Asset Management AS Sells 287,332 Shares of First Solar, Inc. (FSLR)

DnB Asset Management AS lowered its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 43.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 373,488 shares of the solar cell manufacturer’s stock after selling 287,332 shares during the period. DnB Asset Management AS owned approximately 0.36% of First Solar worth $25,218,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Energy Opportunities Capital Management LLC bought a new stake in First Solar during the 3rd quarter valued at $1,250,000. GSA Capital Partners LLP bought a new position in shares of First Solar in the third quarter worth $488,000. Cetera Advisors LLC increased its holdings in shares of First Solar by 16.0% in the third quarter. Cetera Advisors LLC now owns 7,963 shares of the solar cell manufacturer’s stock worth $365,000 after purchasing an additional 1,100 shares during the period. Janus Henderson Group PLC purchased a new position in First Solar in the third quarter worth $1,519,000. Finally, Vident Investment Advisory LLC purchased a new position in First Solar in the third quarter worth $2,720,000. Institutional investors and hedge funds own 50.88% of the company’s stock.

Shares of First Solar, Inc. (NASDAQ FSLR) opened at $71.22 on Wednesday. First Solar, Inc. has a 12-month low of $25.56 and a 12-month high of $76.61. The company has a market cap of $7,410.00, a PE ratio of -17.12 and a beta of 2.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.85 and a quick ratio of 6.47.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $1.11. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $859.22 million. During the same period last year, the business earned $1.22 earnings per share. First Solar’s revenue was up 59.5% compared to the same quarter last year. sell-side analysts anticipate that First Solar, Inc. will post 2.52 EPS for the current fiscal year.

Several analysts have issued reports on FSLR shares. Vetr lowered shares of First Solar from a “sell” rating to a “strong sell” rating and set a $65.52 price target for the company. in a research report on Thursday, January 11th. BidaskClub upgraded shares of First Solar from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 12th. Zacks Investment Research raised shares of First Solar from a “hold” rating to a “strong-buy” rating and set a $81.00 price target for the company in a research note on Tuesday, December 12th. Robert W. Baird raised shares of First Solar from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $69.00 to $82.00 in a research note on Monday, December 11th. Finally, Roth Capital set a $80.00 price target on shares of First Solar and gave the company a “buy” rating in a report on Monday, December 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. First Solar presently has an average rating of “Hold” and a consensus price target of $63.13.

In other news, COO Philip Dejong sold 15,304 shares of First Solar stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $67.83, for a total value of $1,038,070.32. Following the transaction, the chief operating officer now directly owns 10,424 shares of the company’s stock, valued at approximately $707,059.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark R. Widmar sold 20,270 shares of First Solar stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $64.40, for a total transaction of $1,305,388.00. Following the completion of the transaction, the chief executive officer now directly owns 100,754 shares in the company, valued at $6,488,557.60. The disclosure for this sale can be found here. Insiders sold 46,858 shares of company stock valued at $3,134,015 in the last quarter. 0.58% of the stock is owned by insiders.

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About First Solar

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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