Signaturefd LLC Lowers Stake in First Solar, Inc. (NASDAQ:FSLR)

Signaturefd LLC cut its holdings in First Solar, Inc. (NASDAQ:FSLR) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,792 shares of the solar cell manufacturer’s stock after selling 97 shares during the quarter. Signaturefd LLC’s holdings in First Solar were worth $481,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Baystate Wealth Management LLC purchased a new stake in First Solar in the fourth quarter worth about $29,000. First Pacific Financial purchased a new stake in First Solar in the third quarter worth about $27,000. Estabrook Capital Management purchased a new stake in First Solar in the third quarter worth about $29,000. Headinvest LLC purchased a new stake in First Solar in the third quarter worth about $30,000. Finally, Rakuten Securities Inc. purchased a new stake in First Solar in the fourth quarter worth about $34,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Kuntal Kumar Verma sold 250 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $148.34, for a total transaction of $37,085.00. Following the transaction, the insider now owns 5,170 shares in the company, valued at approximately $766,917.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Kuntal Kumar Verma sold 250 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $148.34, for a total value of $37,085.00. Following the completion of the transaction, the insider now directly owns 5,170 shares of the company’s stock, valued at approximately $766,917.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the transaction, the director now directly owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The disclosure for this sale can be found here. Insiders have sold 26,620 shares of company stock worth $4,269,540 in the last quarter. Corporate insiders own 0.58% of the company’s stock.

First Solar Trading Down 1.5 %

First Solar stock opened at $177.48 on Thursday. The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $232.00. The stock’s 50 day simple moving average is $162.66 and its two-hundred day simple moving average is $156.83. The firm has a market cap of $19.00 billion, a PE ratio of 22.93, a P/E/G ratio of 0.31 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping the consensus estimate of $3.19 by $0.06. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the firm posted ($0.07) EPS. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. Analysts anticipate that First Solar, Inc. will post 13.55 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FSLR shares. Oppenheimer reiterated an “outperform” rating and issued a $269.00 target price on shares of First Solar in a report on Wednesday, April 17th. Evercore ISI upgraded shares of First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 target price for the company in a report on Tuesday. Janney Montgomery Scott started coverage on shares of First Solar in a report on Friday, April 12th. They issued a “buy” rating and a $236.00 target price for the company. Susquehanna reiterated a “positive” rating and issued a $258.00 target price on shares of First Solar in a report on Friday, April 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $195.00 target price on shares of First Solar in a report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $231.36.

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.