Truist Financial Corp Lowers Position in First Solar, Inc. (NASDAQ:FSLR)

Truist Financial Corp cut its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 14.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,850 shares of the solar cell manufacturer’s stock after selling 1,024 shares during the period. Truist Financial Corp’s holdings in First Solar were worth $1,031,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of FSLR. Strengthening Families & Communities LLC purchased a new position in shares of First Solar in the third quarter valued at about $25,000. Kennebec Savings Bank purchased a new position in shares of First Solar in the third quarter valued at about $29,000. Larson Financial Group LLC lifted its position in shares of First Solar by 214.0% in the third 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 in the last quarter. Crews Bank & Trust purchased a new position in shares of First Solar in the fourth quarter valued at about $53,000. Finally, Financial Avengers Inc. purchased a new position in shares of First Solar in the third quarter valued at about $77,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $136.18 on Friday. 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 company has a market cap of $14.58 billion, a P/E ratio of 11.73, a PEG ratio of 0.19 and a beta of 1.47. First Solar, Inc. has a 52 week low of $133.90 and a 52 week high of $306.77. The company has a 50-day moving average price of $172.38 and a 200 day moving average price of $197.88.

First Solar (NASDAQ:FSLR) last announced 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 net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. Research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FSLR shares. Guggenheim decreased their target price on First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research report on Thursday. Robert W. Baird decreased their target price on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. decreased their target price on First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.08.

About First Solar

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.