First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in First Solar, Inc. (NASDAQ:FSLR) by 7.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 5,118 shares of the solar cell manufacturer’s stock after selling 430 shares during the period. Allspring Global Investments Holdings LLC’s holdings in First Solar were worth $1,277,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of FSLR. AlphaMark Advisors LLC acquired a new stake in shares of First Solar in the third quarter valued at $25,000. Atlas Capital Advisors LLC boosted its position in First Solar by 411.1% in the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 111 shares during the period. Summit Securities Group LLC acquired a new stake in shares of First Solar in the second quarter valued at $36,000. Itau Unibanco Holding S.A. acquired a new position in First Solar during the 2nd quarter worth $38,000. Finally, Alta Advisers Ltd acquired a new position in shares of First Solar during the second quarter worth about $45,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FSLR shares. JPMorgan Chase & Co. raised their price target on First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. StockNews.com downgraded shares of First Solar from a “hold” rating to a “sell” rating in a research note on Thursday. Mizuho dropped their price target on First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a research note on Thursday. Guggenheim decreased their price objective on First Solar from $368.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and increased their price target for the stock from $200.00 to $254.00 in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $281.13.

Insider Activity at First Solar

In related news, CAO Byron Michael Jeffers sold 1,766 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total value of $382,339.00. Following the completion of the transaction, the chief accounting officer now directly owns 500 shares in the company, valued at approximately $108,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares in the company, valued at approximately $769,896. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Byron Michael Jeffers sold 1,766 shares of First Solar stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the completion of the sale, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at $108,250. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,885 shares of company stock worth $2,405,757 over the last three months. Company insiders own 0.58% of the company’s stock.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $194.48 on Friday. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $306.77. The company has a market cap of $20.82 billion, a P/E ratio of 16.75, a P/E/G ratio of 0.34 and a beta of 1.44. The business’s 50 day moving average is $222.68 and its two-hundred day moving average is $223.93. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a net margin of 31.98% and a return on equity of 17.73%. The company had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the company earned $2.50 earnings per share. First Solar’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities analysts expect that First Solar, Inc. will post 13.39 EPS for the current year.

First Solar 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.