First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,823 shares of the solar cell manufacturer’s stock after selling 357 shares during the quarter. Mutual of America Capital Management LLC’s holdings in First Solar were worth $2,260,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp lifted its holdings in First Solar by 2.2% in the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock valued at $1,236,383,000 after purchasing an additional 108,984 shares in the last quarter. Geode Capital Management LLC raised its position in shares of First Solar by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock valued at $647,440,000 after buying an additional 24,143 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after buying an additional 904,498 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in First Solar by 0.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock worth $434,977,000 after acquiring an additional 15,890 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in First Solar by 7.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,330,675 shares of the solar cell manufacturer’s stock valued at $331,924,000 after acquiring an additional 90,249 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insider Activity

In other news, insider Kuntal Kumar Verma sold 7,475 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $136.60, for a total value of $1,021,085.00. Following the sale, the insider now directly owns 3,549 shares in the company, valued at approximately $484,793.40. This trade represents a 67.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark R. Widmar sold 21,542 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the transaction, the chief executive officer now owns 103,403 shares of the company’s stock, valued at approximately $14,589,129.27. The trade was a 17.24 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

First Solar Price Performance

First Solar stock opened at $139.13 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. First Solar, Inc. has a 52-week low of $124.96 and a 52-week high of $306.77. The firm has a market cap of $14.90 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company’s 50 day moving average is $167.95 and its two-hundred day moving average is $195.40.

First Solar (NASDAQ:FSLR) last announced 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 net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. On average, research analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FSLR shares. UBS Group decreased their target price on shares of First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Guggenheim lowered their price objective on First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft set a $265.00 price target on First Solar in a report on Thursday, February 27th. Finally, Citigroup dropped their price objective on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.