First Solar, Inc. $FSLR Shares Sold by Polen Capital Management LLC

Polen Capital Management LLC decreased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 26.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,302 shares of the solar cell manufacturer’s stock after selling 2,912 shares during the quarter. Polen Capital Management LLC’s holdings in First Solar were worth $2,169,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Aventura Private Wealth LLC purchased a new stake in shares of First Solar in the fourth quarter valued at about $25,000. Commonwealth Retirement Investments LLC purchased a new stake in shares of First Solar in the fourth quarter valued at approximately $26,000. Strategic Wealth Investment Group LLC purchased a new stake in First Solar during the second quarter worth $26,000. Larson Financial Group LLC boosted its position in First Solar by 117.0% during the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Finally, Elyxium Wealth LLC purchased a new stake in First Solar during the fourth quarter worth $30,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Georges Antoun sold 566 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total value of $122,046.58. Following the sale, the insider owned 19,918 shares of the company’s stock, valued at approximately $4,294,918.34. This trade represents a 2.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Caroline Stockdale sold 10,628 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $275.60, for a total value of $2,929,076.80. Following the completion of the sale, the insider directly owned 23,792 shares in the company, valued at approximately $6,557,075.20. This trade represents a 30.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 60,694 shares of company stock worth $13,659,583. 0.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. Glj Research lowered First Solar from a “buy” rating to a “hold” rating and decreased their price objective for the company from $314.43 to $207.82 in a research note on Wednesday, March 4th. Morgan Stanley lowered their target price on shares of First Solar from $275.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 28th. DZ Bank upgraded First Solar to a “strong sell” rating in a research note on Thursday, February 26th. HSBC upped their price target on First Solar from $211.00 to $231.00 and gave the stock a “hold” rating in a research note on Tuesday, May 5th. Finally, Wells Fargo & Company lowered their target price on First Solar from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.88.

First Solar Trading Up 8.8%

NASDAQ:FSLR opened at $271.17 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $230.60 and its two-hundred day moving average is $233.42. First Solar, Inc. has a 52 week low of $135.50 and a 52 week high of $320.95. The company has a market cap of $29.14 billion, a PE ratio of 17.52, a P/E/G ratio of 0.55 and a beta of 1.71.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the business posted $1.95 EPS. First Solar’s quarterly revenue was up 23.6% compared to the same quarter last year. On average, analysts predict that First Solar, Inc. will post 17.61 EPS for the current year.

First Solar Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.