Premier Fund Managers Ltd Sells 1,000 Shares of First Solar, Inc. (NASDAQ:FSLR)

Premier Fund Managers Ltd lowered its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 61,479 shares of the solar cell manufacturer’s stock after selling 1,000 shares during the period. Premier Fund Managers Ltd’s holdings in First Solar were worth $10,944,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of First Solar during the fourth quarter worth approximately $317,399,000. Wellington Management Group LLP grew its holdings in First Solar by 75.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after buying an additional 904,498 shares in the last quarter. Mirova US LLC increased its position in First Solar by 961.0% during the 4th quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock worth $113,906,000 after buying an additional 585,394 shares during the period. Amundi lifted its holdings in shares of First Solar by 31.0% during the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock worth $336,871,000 after buying an additional 426,797 shares in the last quarter. Finally, Merewether Investment Management LP grew its stake in shares of First Solar by 993.4% in the third quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock valued at $80,553,000 after acquiring an additional 293,400 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on FSLR shares. Royal Bank of Canada reduced their price objective on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. BMO Capital Markets reissued an “outperform” rating and set a $230.00 target price (down from $260.00) on shares of First Solar in a report on Wednesday, February 26th. Morgan Stanley lowered their price objective on First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Bank of America dropped their price objective on First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. cut their price target on First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Four 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. According to data from MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Stock Performance

First Solar stock opened at $126.60 on Friday. The company has a market capitalization of $13.55 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 0.19 and a beta of 1.52. The stock has a fifty day moving average of $151.59 and a two-hundred day moving average of $185.87. First Solar, Inc. has a fifty-two week low of $124.32 and a fifty-two week high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (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 analyst estimates of $1.48 billion. On average, analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Activity at First Solar

In other news, insider Georges Antoun sold 229 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $30,628.75. Following the completion of the sale, the insider now owns 52,836 shares in the company, valued at approximately $7,066,815. This trade represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark R. Widmar sold 1,272 shares of First Solar stock in a transaction on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $169,125.12. Following the sale, the chief executive officer now directly owns 109,000 shares in the company, valued at $14,492,640. This trade represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,311 shares of company stock worth $4,767,158. Company insiders own 0.58% of the company’s stock.

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.