Commonwealth Equity Services LLC Has $7.15 Million Holdings in First Solar, Inc. (NASDAQ:FSLR)

Commonwealth Equity Services LLC lessened its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 18.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,544 shares of the solar cell manufacturer’s stock after selling 9,364 shares during the quarter. Commonwealth Equity Services LLC’s holdings in First Solar were worth $7,145,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Empowered Funds LLC lifted 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 buying an additional 5,935 shares during the period. Prospera Financial Services Inc lifted its position in shares of First Solar by 52.5% during the 3rd quarter. Prospera Financial Services Inc now owns 2,037 shares of the solar cell manufacturer’s stock worth $508,000 after buying an additional 701 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of First Solar during the 3rd quarter worth approximately $4,053,000. PNC Financial Services Group Inc. lifted its position in shares of First Solar by 5.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 15,422 shares of the solar cell manufacturer’s stock worth $3,847,000 after buying an additional 777 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of First Solar by 32.7% during the 3rd quarter. Jennison Associates LLC now owns 48,289 shares of the solar cell manufacturer’s stock worth $12,045,000 after buying an additional 11,894 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Buying and Selling at First Solar

In other news, CEO Mark R. Widmar sold 21,542 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the sale, the chief executive officer now directly owns 103,403 shares in the company, valued at $14,589,129.27. The trade was a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Georges Antoun sold 229 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $30,628.75. Following the completion of the sale, the insider now owns 52,836 shares in the company, valued at approximately $7,066,815. This trade represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,311 shares of company stock valued at $4,767,158. Company insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on FSLR. Morgan Stanley cut their target price on First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Robert W. Baird cut their target price on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Piper Sandler cut their price objective on First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Truist Financial reiterated a “buy” rating and issued a $285.00 price objective (down previously from $300.00) on shares of First Solar in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. cut their price objective on First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Stock Down 0.7 %

Shares of First Solar stock opened at $128.46 on Friday. 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, Inc. has a 12 month low of $124.96 and a 12 month high of $306.77. The business has a fifty day simple moving average of $157.42 and a 200 day simple moving average of $188.89. The stock has a market cap of $13.75 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last posted its 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). 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 analyst estimates of $1.48 billion. 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.