UniSuper Management Pty Ltd Sells 10,381 Shares of First Solar, Inc. (NASDAQ:FSLR)

UniSuper Management Pty Ltd trimmed its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 128,899 shares of the solar cell manufacturer’s stock after selling 10,381 shares during the period. UniSuper Management Pty Ltd owned 0.12% of First Solar worth $22,717,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its stake in shares of First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after acquiring an additional 107 shares during the period. Smartleaf Asset Management LLC lifted its holdings 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 valued at $47,000 after purchasing an additional 63 shares during the last quarter. Crews Bank & Trust bought a new position in First Solar during the fourth quarter worth $53,000. Hudson Edge Investment Partners Inc. acquired a new position in shares of First Solar in the fourth quarter valued at $53,000. Finally, CoreFirst Bank & Trust bought a new position in shares of First Solar in the fourth quarter valued at about $54,000. 92.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FSLR. Deutsche Bank Aktiengesellschaft set a $265.00 target price on shares of First Solar in a report on Thursday, February 27th. Citigroup decreased their target price on First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Royal Bank of Canada dropped their price target on First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $230.00 price objective (down from $260.00) on shares of First Solar in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. dropped their target price on First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average price target of $262.08.

First Solar Price Performance

Shares of FSLR opened at $126.34 on Thursday. The business has a 50-day simple moving average of $152.88 and a two-hundred day simple moving average of $186.29. First Solar, Inc. has a 12-month low of $124.53 and a 12-month high of $306.77. The stock has a market cap of $13.53 billion, a PE ratio of 10.88, a PEG ratio of 0.19 and a beta of 1.52. 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 (NASDAQ:FSLR) last issued its quarterly earnings data 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. Analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity at First Solar

In other news, CEO Mark R. Widmar sold 21,542 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. The trade was a 17.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $55,710.24. Following the transaction, the insider now directly owns 4,695 shares of the company’s stock, valued at $624,247.20. This represents a 8.19 % 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 over the last three months. Company insiders own 0.58% of the company’s stock.

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.