CIBC Private Wealth Group LLC Has $1.05 Million Stake in First Solar, Inc. (NASDAQ:FSLR)

CIBC Private Wealth Group LLC lowered its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 7.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,479 shares of the solar cell manufacturer’s stock after selling 423 shares during the period. CIBC Private Wealth Group LLC’s holdings in First Solar were worth $1,047,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in FSLR. Smartleaf Asset Management LLC grew its position in shares of First Solar by 31.7% in the fourth 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 in the fourth quarter valued at about $53,000. Hudson Edge Investment Partners Inc. acquired a new position in First Solar during the 4th quarter worth approximately $53,000. CoreFirst Bank & Trust acquired a new stake in shares of First Solar during the 4th quarter valued at $54,000. Finally, Financial Avengers Inc. acquired a new position in shares of First Solar in the third quarter valued at approximately $77,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Transactions at First Solar

In related 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. This trade represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction 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. This trade represents a 17.24 % 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 worth $4,767,158. Company insiders own 0.58% of the company’s stock.

First Solar Trading Up 4.9 %

Shares of NASDAQ FSLR opened at $136.23 on Friday. First Solar, Inc. has a 1-year low of $120.60 and a 1-year high of $306.77. The stock has a market capitalization of $14.59 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The business has a fifty day moving average price of $146.23 and a 200 day moving average price of $182.60.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing the consensus estimate 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%. Equities research analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FSLR has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Barclays dropped their price objective on First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Roth Mkm restated a “buy” rating and issued a $280.00 target price on shares of First Solar in a research note on Wednesday, February 26th. Guggenheim reduced their price target on shares of First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, Bank of America lowered their price objective on First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $260.42.

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.