Mirova US LLC Reduces Stake in First Solar, Inc. (NASDAQ:FSLR)

Mirova US LLC reduced its position in First Solar, Inc. (NASDAQ:FSLR) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,498 shares of the solar cell manufacturer’s stock after selling 877 shares during the period. First Solar makes up about 0.1% of Mirova US LLC’s investment portfolio, making the stock its 27th biggest position. Mirova US LLC’s holdings in First Solar were worth $9,217,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of FSLR. Assenagon Asset Management S.A. lifted its position in First Solar by 504.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock valued at $68,852,000 after purchasing an additional 333,496 shares in the last quarter. Sora Investors LLC lifted its position in First Solar by 63.6% during the third quarter. Sora Investors LLC now owns 90,000 shares of the solar cell manufacturer’s stock valued at $14,543,000 after purchasing an additional 35,000 shares in the last quarter. Vanguard Group Inc. lifted its position in First Solar by 2.4% during the third quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock valued at $1,945,549,000 after purchasing an additional 279,424 shares in the last quarter. Aviva PLC lifted its position in First Solar by 27.8% during the third quarter. Aviva PLC now owns 50,354 shares of the solar cell manufacturer’s stock valued at $8,137,000 after purchasing an additional 10,940 shares in the last quarter. Finally, Bull Oak Capital LLC lifted its position in First Solar by 304,592.2% during the fourth quarter. Bull Oak Capital LLC now owns 155,393 shares of the solar cell manufacturer’s stock valued at $26,771,000 after purchasing an additional 155,342 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FSLR. Royal Bank of Canada reiterated an “outperform” rating and set a $195.00 target price on shares of First Solar in a research report on Wednesday, February 28th. Susquehanna reissued a “positive” rating and set a $258.00 price target on shares of First Solar in a report on Friday, April 5th. Wells Fargo & Company cut First Solar from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $215.00 to $187.00 in a report on Monday, January 8th. Janney Montgomery Scott initiated coverage on First Solar in a report on Friday, April 12th. They set a “buy” rating and a $236.00 price target on the stock. Finally, Oppenheimer raised their price target on First Solar from $268.00 to $269.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $227.96.

Insider Activity at First Solar

In related news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the completion of the sale, the insider now owns 42,041 shares in the company, valued at $6,539,477.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the completion of the sale, the insider now owns 42,041 shares in the company, valued at $6,539,477.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R Craig Kennedy sold 1,500 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,620 shares of company stock worth $4,269,540. Company insiders own 0.58% of the company’s stock.

First Solar Trading Up 1.1 %

Shares of NASDAQ:FSLR traded up $1.90 during trading hours on Wednesday, hitting $174.98. 641,313 shares of the company’s stock traded hands, compared to its average volume of 2,046,587. First Solar, Inc. has a 1 year low of $129.21 and a 1 year high of $232.00. The business has a fifty day moving average price of $159.59 and a 200-day moving average price of $155.77. The firm has a market capitalization of $18.73 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 0.30 and a beta of 1.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.06. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.31 billion. First Solar had a return on equity of 13.80% and a net margin of 25.03%. First Solar’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.07) earnings per share. Equities analysts expect that First Solar, Inc. will post 13.55 earnings per share 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.