Sandy Spring Bank Has $1.33 Million Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Sandy Spring Bank increased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 17.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,556 shares of the solar cell manufacturer’s stock after purchasing an additional 1,113 shares during the period. Sandy Spring Bank’s holdings in First Solar were worth $1,332,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Empowered Funds LLC boosted its position in shares of First Solar by 404.0% during the 3rd quarter. Empowered Funds LLC now owns 7,404 shares of the solar cell manufacturer’s stock worth $1,847,000 after purchasing an additional 5,935 shares in the last quarter. Prospera Financial Services Inc boosted its holdings in First Solar by 52.5% in the third quarter. Prospera Financial Services Inc now owns 2,037 shares of the solar cell manufacturer’s stock worth $508,000 after acquiring an additional 701 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in First Solar in the third quarter valued at approximately $4,053,000. PNC Financial Services Group Inc. increased its holdings in shares of First Solar by 5.3% during the third quarter. PNC Financial Services Group Inc. now owns 15,422 shares of the solar cell manufacturer’s stock valued at $3,847,000 after acquiring an additional 777 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of First Solar by 32.7% during the third quarter. Jennison Associates LLC now owns 48,289 shares of the solar cell manufacturer’s stock worth $12,045,000 after purchasing an additional 11,894 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Activity

In related news, CEO Mark R. Widmar sold 1,966 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $262,952.50. Following the sale, the chief executive officer now directly owns 111,890 shares of the company’s stock, valued at $14,965,287.50. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Georges Antoun sold 229 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $30,628.75. Following the completion of the transaction, the insider now directly owns 52,836 shares of the company’s stock, valued at approximately $7,066,815. This represents a 0.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock worth $4,767,158 in the last three months. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FSLR shares. Roth Mkm reiterated a “buy” rating and issued a $280.00 target price on shares of First Solar in a report on Wednesday, February 26th. Robert W. Baird cut their target price on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Mizuho upgraded First Solar from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $218.00 to $259.00 in a report on Tuesday, February 11th. BMO Capital Markets reiterated an “outperform” rating and issued a $230.00 target price (down from $260.00) on shares of First Solar in a report on Wednesday, February 26th. Finally, Redburn Atlantic started coverage on First Solar in a report on Monday, March 3rd. They issued a “neutral” rating on the stock. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, First Solar has an average rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Stock Performance

NASDAQ:FSLR opened at $128.46 on Friday. First Solar, Inc. has a 52-week low of $124.96 and a 52-week high of $306.77. The business’s fifty day moving average is $157.42 and its 200 day moving average is $188.89. 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 firm has a market cap of $13.75 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 0.19 and a beta of 1.52.

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

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.