First Solar, Inc. (NASDAQ:FSLR) Stake Lowered by Meeder Asset Management Inc.

Meeder Asset Management Inc. decreased its stake in First Solar, Inc. (NASDAQ:FSLR) by 92.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 872 shares of the solar cell manufacturer’s stock after selling 10,134 shares during the period. Meeder Asset Management Inc.’s holdings in First Solar were worth $154,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in First Solar in the fourth quarter valued at $317,399,000. Wellington Management Group LLP boosted its stake in First Solar by 75.8% during 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 purchasing an additional 904,498 shares during the period. Mirova US LLC grew its position in First Solar by 961.0% in the 4th quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock worth $113,906,000 after purchasing an additional 585,394 shares during the last quarter. Amundi increased its stake in shares of First Solar by 31.0% in the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock valued at $336,871,000 after purchasing an additional 426,797 shares during the period. Finally, Merewether Investment Management LP raised its holdings in shares of First Solar by 993.4% during 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 buying an additional 293,400 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Down 0.7 %

FSLR stock opened at $126.43 on Tuesday. The company’s 50 day simple moving average is $148.95 and its 200-day simple moving average is $184.01. First Solar, Inc. has a 52-week low of $120.60 and a 52-week high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The firm has a market capitalization of $13.54 billion, a P/E ratio of 10.89, a P/E/G ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last released its 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 net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. As a group, equities research analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Buying and Selling at First Solar

In related news, CEO Mark R. Widmar sold 21,542 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the sale, the chief executive officer now directly owns 103,403 shares in the company, valued at approximately $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Alexander R. Bradley sold 599 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $80,116.25. Following the completion of the transaction, the chief financial officer now owns 45,717 shares in the company, valued at approximately $6,114,648.75. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock valued at $4,767,158 in the last 90 days. 0.58% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on FSLR. Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Piper Sandler lowered their price target on First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Citigroup cut their price objective on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Roth Mkm reiterated a “buy” rating and issued a $280.00 target price on shares of First Solar in a research report on Wednesday, February 26th. Finally, UBS Group dropped their price target on shares of First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and a consensus price target of $262.08.

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.