Capital Research Global Investors Trims Position in First Solar, Inc. (NASDAQ:FSLR)

Capital Research Global Investors trimmed its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 25.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,789,514 shares of the solar cell manufacturer’s stock after selling 599,611 shares during the period. Capital Research Global Investors owned 1.67% of First Solar worth $315,396,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Covalis Capital LLP lifted its position in shares of First Solar by 443.1% in the fourth quarter. Covalis Capital LLP now owns 126,128 shares of the solar cell manufacturer’s stock valued at $22,229,000 after acquiring an additional 102,904 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in First Solar by 26.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,249,600 shares of the solar cell manufacturer’s stock valued at $220,250,000 after purchasing an additional 261,480 shares during the period. Dnca Finance lifted its holdings in First Solar by 16.3% in the 4th quarter. Dnca Finance now owns 36,647 shares of the solar cell manufacturer’s stock worth $6,459,000 after purchasing an additional 5,147 shares in the last quarter. First Trust Advisors LP boosted its stake in First Solar by 5.7% in the 4th quarter. First Trust Advisors LP now owns 315,802 shares of the solar cell manufacturer’s stock worth $55,657,000 after purchasing an additional 17,157 shares during the period. Finally, HITE Hedge Asset Management LLC purchased a new stake in First Solar during the 4th quarter valued at approximately $3,669,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Seaport Res Ptn raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Redburn Atlantic started coverage on shares of First Solar in a report on Monday, March 3rd. They set a “neutral” rating for the company. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Morgan Stanley dropped their price target on First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Finally, Wells Fargo & Company decreased their price objective on First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Four research 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $251.63.

First Solar Stock Performance

First Solar stock opened at $127.98 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company has a market capitalization of $13.70 billion, a PE ratio of 11.02, a P/E/G ratio of 0.19 and a beta of 1.48. The company has a 50 day moving average price of $136.14 and a 200-day moving average price of $172.03. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $306.77.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share 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 firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. As a group, equities analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Buying and Selling at First Solar

In related news, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the transaction, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Kuntal Kumar Verma sold 7,475 shares of the business’s 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 of the company’s stock, valued at $484,793.40. This trade represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,311 shares of company stock valued at $4,767,158. Company insiders own 0.48% of the company’s stock.

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.