First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC trimmed its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 7.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,212 shares of the solar cell manufacturer’s stock after selling 93 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in First Solar were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Clear Harbor Asset Management LLC lifted its position in First Solar by 0.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock worth $1,623,000 after acquiring an additional 55 shares during the period. Doliver Advisors LP lifted its position in First Solar by 1.2% during the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock worth $831,000 after acquiring an additional 56 shares during the period. Smartleaf Asset Management LLC lifted its position in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after acquiring an additional 63 shares during the period. Sigma Planning Corp lifted its position in First Solar by 4.8% during the 3rd quarter. Sigma Planning Corp now owns 1,450 shares of the solar cell manufacturer’s stock worth $362,000 after acquiring an additional 67 shares during the period. Finally, Mutual Advisors LLC lifted its position in First Solar by 5.3% during the 4th quarter. Mutual Advisors LLC now owns 1,463 shares of the solar cell manufacturer’s stock worth $279,000 after acquiring an additional 73 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at First Solar

In related news, insider Kuntal Kumar Verma sold 419 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 value of $55,710.24. Following the transaction, the insider now owns 4,695 shares in the company, valued at approximately $624,247.20. This trade represents a 8.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction on Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the transaction, the chief executive officer now owns 103,403 shares in the company, valued at $14,589,129.27. The trade was a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,739 shares of company stock worth $4,289,403 over the last quarter. 0.58% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FSLR. Truist Financial reissued a “buy” rating and set a $285.00 target price (down from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Citigroup cut their target price on First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. UBS Group cut their target price on First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley cut their target price on First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Finally, Roth Mkm reissued a “buy” rating and set a $280.00 target price on shares of First Solar in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Stock Performance

First Solar stock opened at $132.51 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The stock has a fifty day moving average of $162.48 and a two-hundred day moving average of $191.64. The company has a market capitalization of $14.19 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a fifty-two week low of $124.96 and a fifty-two week high of $306.77.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for 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.

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.