DnB Asset Management AS Sells 181 Shares of First Solar, Inc. (NASDAQ:FSLR)

DnB Asset Management AS lessened its holdings in First Solar, Inc. (NASDAQ:FSLR) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,268 shares of the solar cell manufacturer’s stock after selling 181 shares during the quarter. DnB Asset Management AS’s holdings in First Solar were worth $6,392,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted 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 valued at $47,000 after purchasing an additional 63 shares during the last quarter. Crews Bank & Trust bought a new stake in First Solar during the fourth quarter worth about $53,000. Hudson Edge Investment Partners Inc. acquired a new stake in shares of First Solar during the 4th quarter worth approximately $53,000. CoreFirst Bank & Trust bought a new position in First Solar in the fourth quarter valued at about $54,000. Finally, Financial Avengers Inc. acquired a new stake in First Solar in the third quarter valued at approximately $77,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Trading Up 0.6 %

NASDAQ FSLR opened at $127.32 on Monday. The firm’s 50-day moving average is $150.28 and its two-hundred day moving average is $184.79. The stock has a market capitalization of $13.63 billion, a P/E ratio of 10.97, a PEG ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a 12 month low of $124.32 and a 12 month high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

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

Insider Transactions at First Solar

In related news, CTO Markus Gloeckler sold 380 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $50,825.00. Following the completion of the transaction, the chief technology officer now directly owns 17,594 shares of the company’s stock, valued at $2,353,197.50. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mark R. Widmar sold 1,966 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $262,952.50. Following the transaction, the chief executive officer now directly owns 111,890 shares of the company’s stock, valued at approximately $14,965,287.50. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,311 shares of company stock worth $4,767,158. Corporate insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

FSLR has been the subject of several analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $230.00 price target (down previously from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. Citigroup reduced their price objective on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft set a $265.00 target price on First Solar in a research note on Thursday, February 27th. Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Finally, Morgan Stanley lowered their price target on shares of First Solar from $297.00 to $238.00 and set an “overweight” 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $262.08.

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.