First Solar, Inc. (NASDAQ:FSLR) Stock Position Reduced by Harrington Investments INC

Harrington Investments INC cut its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,213 shares of the solar cell manufacturer’s stock after selling 187 shares during the period. Harrington Investments INC’s holdings in First Solar were worth $1,671,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC boosted its holdings in shares of 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 buying an additional 63 shares during the period. Independent Advisor Alliance raised its position in shares of First Solar by 3.1% during the fourth quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock valued at $368,000 after buying an additional 63 shares during the last quarter. Huntington National Bank lifted its position in shares of First Solar by 15.3% in the 4th quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer’s stock worth $90,000 after acquiring an additional 68 shares during the period. Evexia Wealth LLC lifted its position in First Solar by 2.1% in the fourth quarter. Evexia Wealth LLC now owns 3,481 shares of the solar cell manufacturer’s stock worth $586,000 after purchasing an additional 70 shares during the period. Finally, Montag A & Associates Inc. increased its holdings in First Solar by 18.8% in the 4th quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer’s stock valued at $84,000 after buying an additional 75 shares during the period. Institutional investors own 92.08% of the company’s stock.

Insider Activity at First Solar

In other news, CFO Alexander R. Bradley sold 599 shares of First Solar stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $80,116.25. Following the completion of the transaction, the chief financial officer now directly owns 45,717 shares in the company, valued at approximately $6,114,648.75. The trade was a 1.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Jason E. Dymbort sold 363 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $48,551.25. Following the completion of the transaction, the general counsel now owns 22,273 shares in the company, valued at approximately $2,979,013.75. This represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,948 shares of company stock valued at $2,704,927. Insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on FSLR. UBS Group reissued a “buy” rating and issued a $255.00 price target on shares of First Solar in a research report on Wednesday, May 14th. Glj Research raised shares of First Solar from a “hold” rating to a “buy” rating and set a $172.37 price objective on the stock in a research note on Thursday, May 1st. Redburn Atlantic began coverage on First Solar in a research report on Monday, March 3rd. They issued a “neutral” rating for the company. Citigroup reduced their price target on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. decreased their price objective on First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.94.

First Solar Stock Up 1.5%

First Solar stock opened at $166.35 on Friday. The company has a 50 day moving average of $143.96 and a 200-day moving average of $159.64. The stock has a market capitalization of $17.84 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 0.19 and a beta of 1.53. 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 twelve month low of $116.56 and a twelve month high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $844.57 million during the quarter, compared to the consensus estimate of $863.11 million. During the same period in the prior year, the firm earned $2.20 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts anticipate that First Solar, Inc. will post 13.05 EPS 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.