Atria Investments Inc Reduces Position in First Solar, Inc. (NASDAQ:FSLR)

Atria Investments Inc lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 38.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,515 shares of the solar cell manufacturer’s stock after selling 961 shares during the quarter. Atria Investments Inc’s holdings in First Solar were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of FSLR. Oak Grove Capital LLC lifted its position in First Solar by 77.3% during the 4th quarter. Oak Grove Capital LLC now owns 6,650 shares of the solar cell manufacturer’s stock worth $1,172,000 after acquiring an additional 2,900 shares during the period. Laffer Tengler Investments Inc. lifted its holdings in shares of First Solar by 47.5% during the fourth quarter. Laffer Tengler Investments Inc. now owns 1,738 shares of the solar cell manufacturer’s stock worth $306,000 after purchasing an additional 560 shares during the period. Keybank National Association OH grew its position in First Solar by 3.3% in the 4th quarter. Keybank National Association OH now owns 5,271 shares of the solar cell manufacturer’s stock valued at $929,000 after buying an additional 169 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in First Solar by 8.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 773,292 shares of the solar cell manufacturer’s stock valued at $136,285,000 after buying an additional 57,188 shares during the period. Finally, State of Michigan Retirement System raised its position in First Solar by 3.3% during the 4th quarter. State of Michigan Retirement System now owns 34,700 shares of the solar cell manufacturer’s stock worth $6,116,000 after buying an additional 1,100 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Stock Performance

Shares of FSLR stock opened at $133.03 on Tuesday. First Solar, Inc. has a 1-year low of $124.96 and a 1-year high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $14.24 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 0.19 and a beta of 1.52. The stock’s fifty day simple moving average is $161.31 and its 200-day simple moving average is $190.44.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. On average, sell-side analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FSLR shares. Morgan Stanley lowered their price objective on First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Redburn Atlantic assumed coverage on First Solar in a report on Monday, March 3rd. They set a “neutral” rating on the stock. Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. 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 report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft set a $265.00 price target on shares of First Solar in a report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $262.08.

Insiders Place Their Bets

In related news, CEO Mark R. Widmar sold 1,272 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $132.96, for a total value of $169,125.12. Following the completion of the sale, the chief executive officer now owns 109,000 shares of the company’s stock, valued at approximately $14,492,640. The trade was a 1.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kuntal Kumar Verma sold 419 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $55,710.24. Following the transaction, the insider now directly owns 4,695 shares in the company, valued at approximately $624,247.20. The trade was a 8.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,739 shares of company stock worth $4,289,403 in the last quarter. 0.58% of the stock is currently owned by corporate insiders.

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.