Parallel Advisors LLC Sells 474 Shares of First Solar, Inc. (NASDAQ:FSLR)

Parallel Advisors LLC lessened its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 6.1% in the 4th quarter, Holdings Channel reports. The firm owned 7,254 shares of the solar cell manufacturer’s stock after selling 474 shares during the period. Parallel Advisors LLC’s holdings in First Solar were worth $1,278,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FSLR. Strengthening Families & Communities LLC bought a new position in shares of First Solar in the 3rd quarter valued at about $25,000. Larson Financial Group LLC lifted its holdings in shares of First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after acquiring an additional 107 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of First Solar by 31.7% in the 4th 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 during the last quarter. Crews Bank & Trust bought a new position in shares of First Solar in the 4th quarter valued at about $53,000. Finally, Hudson Edge Investment Partners Inc. bought a new position in shares of First Solar in the 4th quarter valued at about $53,000. Institutional investors own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

FSLR has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price target on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Piper Sandler lowered their price target on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Robert W. Baird reduced their price objective on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Roth Mkm reissued a “buy” rating and issued a $280.00 price objective on shares of First Solar in a research report on Wednesday, February 26th. Finally, Redburn Atlantic started coverage on shares of First Solar in a research report on Monday, March 3rd. They issued a “neutral” rating on the stock. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $262.08.

First Solar Stock Performance

Shares of NASDAQ:FSLR opened at $127.34 on Wednesday. The company has a market capitalization of $13.63 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a 52 week low of $124.96 and a 52 week high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average of $159.91 and a 200 day moving average of $189.73.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS 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 business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. On average, sell-side analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Solar news, insider Kuntal Kumar Verma sold 7,475 shares of First Solar stock in a transaction on Friday, February 28th. The shares were sold at an average price of $136.60, for a total value of $1,021,085.00. Following the transaction, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. The trade was a 67.81 % 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 the SEC website. Also, insider Georges Antoun sold 229 shares of First Solar stock in a transaction on 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 in the company, valued at $7,066,815. This represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,311 shares of company stock valued at $4,767,158. 0.58% of the stock is currently owned by insiders.

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.