Parametrica Management Ltd Cuts Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Parametrica Management Ltd reduced its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 72.4% in the fourth quarter, Holdings Channel reports. The fund owned 3,962 shares of the solar cell manufacturer’s stock after selling 10,385 shares during the quarter. First Solar makes up about 0.9% of Parametrica Management Ltd’s portfolio, making the stock its 20th biggest position. Parametrica Management Ltd’s holdings in First Solar were worth $698,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Larson Financial Group LLC raised its holdings in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after buying an additional 107 shares during the period. Smartleaf Asset Management LLC increased 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 worth $47,000 after purchasing an additional 63 shares during the period. Crews Bank & Trust purchased a new stake in First Solar during the fourth quarter worth $53,000. Hudson Edge Investment Partners Inc. bought a new stake in First Solar during the fourth quarter valued at about $53,000. Finally, CoreFirst Bank & Trust bought a new position in shares of First Solar during the 4th quarter worth approximately $54,000. 92.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling at First Solar

In other news, insider Kuntal Kumar Verma sold 7,475 shares of First Solar stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the completion of the transaction, the insider now directly owns 3,549 shares in the company, valued at approximately $484,793.40. The trade was a 67.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Georges Antoun sold 229 shares of the stock in a transaction dated Monday, March 17th. The shares were 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 in the company, valued at $7,066,815. The trade was a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,311 shares of company stock valued at $4,767,158. 0.58% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on FSLR. Roth Mkm reaffirmed a “buy” rating and issued a $280.00 price objective on shares of First Solar in a research report on Wednesday, February 26th. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Wells Fargo & Company cut their price objective on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Seaport Res Ptn upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $230.00 price target (down previously from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Stock Performance

NASDAQ FSLR opened at $131.46 on Wednesday. The company has a 50 day moving average of $154.08 and a 200-day moving average of $186.71. First Solar, Inc. has a 1-year low of $124.96 and a 1-year high of $306.77. The firm has a market cap of $14.07 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 0.19 and a beta of 1.52. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. On average, equities analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal 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.