First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. decreased its holdings in First Solar, Inc. (NASDAQ:FSLR) by 5.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,010 shares of the solar cell manufacturer’s stock after selling 187 shares during the quarter. Wedbush Securities Inc.’s holdings in First Solar were worth $530,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Hel Ved Capital Management Ltd purchased a new stake in shares of First Solar during the fourth quarter worth about $2,194,000. Resona Asset Management Co. Ltd. purchased a new stake in First Solar during the 4th quarter worth approximately $5,458,000. Motley Fool Asset Management LLC raised its holdings in shares of First Solar by 7.4% during the fourth quarter. Motley Fool Asset Management LLC now owns 1,576 shares of the solar cell manufacturer’s stock valued at $278,000 after acquiring an additional 108 shares during the last quarter. World Investment Advisors purchased a new position in shares of First Solar in the fourth quarter valued at approximately $292,000. Finally, Westpac Banking Corp boosted its stake in shares of First Solar by 8.9% in the fourth quarter. Westpac Banking Corp now owns 917 shares of the solar cell manufacturer’s stock worth $162,000 after acquiring an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insiders Place Their Bets

In related news, insider Georges Antoun sold 229 shares of the business’s stock in a transaction 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 $7,066,815. The trade was a 0.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 1,966 shares of First Solar 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 $262,952.50. Following the completion of the transaction, the chief executive officer now owns 111,890 shares of the company’s stock, valued at $14,965,287.50. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock worth $4,767,158 in the last ninety days. 0.58% of the stock is owned by corporate insiders.

First Solar Trading Down 7.4 %

Shares of NASDAQ FSLR opened at $120.38 on Wednesday. First Solar, Inc. has a twelve month low of $118.57 and a twelve month 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 stock has a fifty day simple moving average of $143.05 and a 200-day simple moving average of $179.01. The stock has a market capitalization of $12.89 billion, a PE ratio of 10.37, a PEG ratio of 0.19 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last issued 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 business had revenue of $1.51 billion for 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%. On average, equities analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of research reports. Mizuho upgraded First Solar from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $218.00 to $259.00 in a report on Tuesday, February 11th. Morgan Stanley lowered their price target on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on shares of First Solar in a report on Thursday, February 27th. Piper Sandler lowered their target price on First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Citigroup reduced their price objective 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. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $257.42.

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.