First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Merewether Investment Management LP

Merewether Investment Management LP decreased its holdings in First Solar, Inc. (NASDAQ:FSLR) by 43.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 181,328 shares of the solar cell manufacturer’s stock after selling 141,608 shares during the quarter. Merewether Investment Management LP’s holdings in First Solar were worth $31,957,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC raised its holdings in 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. Crews Bank & Trust acquired a new stake in shares of First Solar in the fourth quarter worth about $53,000. Hudson Edge Investment Partners Inc. acquired a new stake in shares of First Solar in the fourth quarter worth $53,000. Banque Transatlantique SA acquired a new position in shares of First Solar during the 4th quarter worth about $53,000. Finally, CoreFirst Bank & Trust acquired a new stake in First Solar in the 4th quarter worth $54,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the sale, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at approximately $14,589,129.27. This represents a 17.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alexander R. Bradley sold 599 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 45,717 shares in the company, valued at $6,114,648.75. The trade was a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock valued at $4,767,158 over the last three months. Company insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FSLR. 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. Citigroup cut their price target on First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Glj Research raised shares of First Solar from a “hold” rating to a “buy” rating and set a $172.37 price target on the stock in a research report on Thursday, May 1st. Morgan Stanley set a $223.00 price target on First Solar and gave the company an “overweight” rating in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company dropped their price objective on shares of First Solar from $191.00 to $177.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $223.87.

First Solar Price Performance

FSLR stock opened at $156.21 on Tuesday. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $306.77. The stock’s 50 day moving average price is $130.84 and its 200 day moving average price is $163.25. 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 firm has a market cap of $16.75 billion, a P/E ratio of 13.45, a PEG ratio of 0.19 and a beta of 1.46.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). The firm had revenue of $844.57 million for the quarter, compared to analysts’ expectations of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.20 EPS. On average, sell-side analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

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.