First Solar, Inc. (NASDAQ:FSLR) Shares Sold by US Bancorp DE

US Bancorp DE lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 6.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,919 shares of the solar cell manufacturer’s stock after selling 1,437 shares during the quarter. US Bancorp DE’s holdings in First Solar were worth $2,771,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Garde Capital Inc. acquired a new position in First Solar in the first quarter valued at approximately $25,000. Larson Financial Group LLC lifted its position in shares of First Solar by 591.9% during the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer’s stock worth $32,000 after buying an additional 219 shares during the last quarter. Abound Financial LLC acquired a new position in shares of First Solar in the 1st quarter valued at $45,000. Princeton Global Asset Management LLC acquired a new position in shares of First Solar in the 1st quarter valued at $51,000. Finally, Banque Transatlantique SA purchased a new position in shares of First Solar in the 4th quarter valued at $53,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at First Solar

In other First Solar news, insider Patrick James Buehler sold 1,600 shares of the company’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $180.00, for a total transaction of $288,000.00. Following the transaction, the insider directly owned 4,398 shares in the company, valued at approximately $791,640. This represents a 26.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael Koralewski sold 2,951 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total value of $466,877.71. Following the completion of the sale, the insider owned 11,369 shares in the company, valued at approximately $1,798,689.49. This represents a 20.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,976 shares of company stock worth $2,515,172 over the last three months. 0.48% of the stock is currently owned by corporate insiders.

First Solar Stock Down 1.0%

FSLR stock opened at $185.01 on Thursday. The stock has a market capitalization of $19.84 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 0.37 and a beta of 1.48. The company has a fifty day moving average of $167.51 and a 200-day moving average of $153.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. First Solar, Inc. has a one year low of $116.56 and a one year high of $262.72.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.50. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company posted $3.25 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FSLR shares. Wells Fargo & Company reduced their price target on shares of First Solar from $191.00 to $177.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. lifted their target price on First Solar from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 22nd. Wolfe Research raised First Solar from a “peer perform” rating to an “outperform” rating and set a $221.00 target price for the company in a research report on Tuesday, May 13th. Oppenheimer downgraded First Solar from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 30th. Finally, Wall Street Zen raised First Solar from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $222.67.

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.