First Solar, Inc. (NASDAQ:FSLR) Stock Holdings Decreased by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC decreased its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 93.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,430 shares of the solar cell manufacturer’s stock after selling 293,597 shares during the period. Zevenbergen Capital Investments LLC’s holdings in First Solar were worth $3,777,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of First Solar by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer’s stock valued at $2,259,697,000 after acquiring an additional 120,289 shares during the last quarter. LPL Financial LLC increased its holdings in shares of First Solar by 17.9% in the 4th quarter. LPL Financial LLC now owns 53,675 shares of the solar cell manufacturer’s stock worth $9,460,000 after acquiring an additional 8,167 shares during the period. Optimum Investment Advisors increased its holdings in shares of First Solar by 4.8% in the 4th quarter. Optimum Investment Advisors now owns 3,306 shares of the solar cell manufacturer’s stock worth $583,000 after acquiring an additional 150 shares during the period. KLP Kapitalforvaltning AS acquired a new position in First Solar during the 4th quarter valued at about $14,469,000. Finally, Sei Investments Co. boosted its position in shares of First Solar by 67.6% during the 4th quarter. Sei Investments Co. now owns 27,035 shares of the solar cell manufacturer’s stock valued at $4,764,000 after purchasing an additional 10,906 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on FSLR shares. Truist Financial reaffirmed a “buy” rating and set a $285.00 price objective (down previously from $300.00) on shares of First Solar in a research report on Wednesday, February 26th. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Royal Bank of Canada lowered their price target on First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley decreased their price objective on First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Finally, Guggenheim cut their price objective on shares of First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Four research analysts have rated the stock with 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 a consensus rating of “Moderate Buy” and an average price target of $262.08.

Insider Buying and Selling

In related news, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the sale, the chief executive officer now owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kuntal Kumar Verma sold 419 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $55,710.24. Following the completion of the transaction, the insider now owns 4,695 shares of the company’s stock, valued at $624,247.20. The trade was a 8.19 % 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 quarter. Company insiders own 0.58% of the company’s stock.

First Solar Stock Performance

Shares of First Solar stock opened at $131.32 on Monday. First Solar, Inc. has a one year low of $124.96 and a one year high of $306.77. The company has a market cap of $14.06 billion, a PE ratio of 11.31, a P/E/G ratio of 0.19 and a beta of 1.52. 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 business has a 50-day simple moving average of $156.26 and a 200-day simple moving average of $187.86.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. On average, equities research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

First Solar 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.