First Affirmative Financial Network Reduces Holdings in First Solar, Inc. (NASDAQ:FSLR)

First Affirmative Financial Network trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 10.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,378 shares of the solar cell manufacturer’s stock after selling 169 shares during the quarter. First Affirmative Financial Network’s holdings in First Solar were worth $233,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in FSLR. AtonRa Partners raised its holdings in shares of First Solar by 2.2% in the fourth quarter. AtonRa Partners now owns 3,600 shares of the solar cell manufacturer’s stock valued at $620,000 after acquiring an additional 79 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in First Solar by 0.5% in the third quarter. Advisors Asset Management Inc. now owns 18,634 shares of the solar cell manufacturer’s stock valued at $3,011,000 after acquiring an additional 85 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in First Solar by 14.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 691 shares of the solar cell manufacturer’s stock valued at $119,000 after acquiring an additional 86 shares during the period. Czech National Bank raised its stake in shares of First Solar by 0.5% during the 1st quarter. Czech National Bank now owns 18,799 shares of the solar cell manufacturer’s stock worth $3,173,000 after buying an additional 86 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of First Solar by 24.3% during the 4th quarter. Blue Trust Inc. now owns 445 shares of the solar cell manufacturer’s stock worth $71,000 after buying an additional 87 shares during the period. 92.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Alexander R. Bradley sold 16,051 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the completion of the transaction, the chief financial officer now directly owns 30,652 shares of the company’s stock, valued at $8,419,797.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Georges Antoun sold 2,400 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $169.72, for a total value of $407,328.00. Following the completion of the sale, the insider now owns 39,812 shares of the company’s stock, valued at $6,756,892.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Alexander R. Bradley sold 16,051 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the completion of the transaction, the chief financial officer now owns 30,652 shares in the company, valued at approximately $8,419,797.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,269 shares of company stock valued at $13,287,671. 0.58% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on FSLR. Royal Bank of Canada reissued an “outperform” rating and issued a $195.00 price objective on shares of First Solar in a research note on Wednesday, February 28th. Piper Sandler increased their price objective on First Solar from $195.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. Jefferies Financial Group upped their target price on First Solar from $209.50 to $211.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. BMO Capital Markets upped their target price on First Solar from $224.00 to $311.00 and gave the company an “outperform” rating in a report on Monday, June 10th. Finally, Bank of America upped their target price on First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $265.72.

First Solar Trading Down 0.5 %

NASDAQ:FSLR opened at $258.87 on Friday. The stock’s 50 day moving average price is $225.27 and its 200 day moving average price is $181.58. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $306.77. The company has a market capitalization of $27.71 billion, a PE ratio of 27.14, a P/E/G ratio of 0.34 and a beta of 1.48. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last announced its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The company had revenue of $794.10 million for the quarter, compared to the consensus estimate of $718.19 million. During the same period last year, the business posted $0.40 EPS. The company’s revenue was up 44.8% on a year-over-year basis. On average, research analysts anticipate that First Solar, Inc. will post 13.6 EPS for the current year.

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.