Raymond James Trust N.A. Sells 181 Shares of First Solar, Inc. (NASDAQ:FSLR)

Raymond James Trust N.A. lowered its holdings in First Solar, Inc. (NASDAQ:FSLRFree Report) by 6.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,680 shares of the solar cell manufacturer’s stock after selling 181 shares during the quarter. Raymond James Trust N.A.’s holdings in First Solar were worth $462,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Raymond James & Associates increased its stake in First Solar by 160.6% during the 1st quarter. Raymond James & Associates now owns 26,796 shares of the solar cell manufacturer’s stock worth $2,244,000 after acquiring an additional 16,515 shares during the period. American Century Companies Inc. increased its position in shares of First Solar by 13.8% in the first quarter. American Century Companies Inc. now owns 8,472 shares of the solar cell manufacturer’s stock worth $710,000 after purchasing an additional 1,030 shares during the period. Cibc World Market Inc. raised its stake in First Solar by 71.0% in the first quarter. Cibc World Market Inc. now owns 7,464 shares of the solar cell manufacturer’s stock valued at $625,000 after purchasing an additional 3,100 shares in the last quarter. Blair William & Co. IL lifted its position in First Solar by 1.8% during the first quarter. Blair William & Co. IL now owns 50,128 shares of the solar cell manufacturer’s stock worth $4,198,000 after purchasing an additional 890 shares during the period. Finally, Sei Investments Co. grew its stake in First Solar by 11.6% during the first quarter. Sei Investments Co. now owns 25,804 shares of the solar cell manufacturer’s stock worth $2,161,000 after buying an additional 2,691 shares in the last quarter. Institutional investors and hedge funds own 82.08% of the company’s stock.

Analyst Upgrades and Downgrades

FSLR has been the subject of a number of recent analyst reports. Morgan Stanley raised shares of First Solar from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $214.00 to $237.00 in a report on Friday, December 8th. Jefferies Financial Group assumed coverage on First Solar in a report on Friday, December 15th. They issued a “buy” rating and a $211.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $195.00 price objective on shares of First Solar in a research report on Wednesday, February 28th. Susquehanna decreased their target price on First Solar from $261.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, February 28th. Finally, Wells Fargo & Company cut shares of First Solar from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $215.00 to $187.00 in a report on Monday, January 8th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Check Out Our Latest Stock Report on First Solar

First Solar Price Performance

FSLR opened at $153.31 on Monday. The firm has a 50-day moving average of $151.25 and a 200 day moving average of $155.47. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55. First Solar, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $232.00. The firm has a market cap of $16.38 billion, a P/E ratio of 19.81, a PEG ratio of 0.26 and a beta of 1.41.

First Solar (NASDAQ:FSLRGet Free Report) last released its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.31 billion. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the business posted ($0.07) earnings per share. On average, research analysts expect that First Solar, Inc. will post 13.5 EPS for the current year.

Insiders Place Their Bets

In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $148.34, for a total transaction of $37,085.00. Following the sale, the insider now owns 5,170 shares of the company’s stock, valued at approximately $766,917.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Georges Antoun sold 16,667 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the sale, the insider now owns 42,041 shares in the company, valued at $6,539,477.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction on Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the sale, the insider now directly owns 5,170 shares of the company’s stock, valued at approximately $766,917.80. The disclosure for this sale can be found here. Insiders sold 19,883 shares of company stock worth $3,100,837 over the last quarter. 0.58% of the stock is currently owned by company insiders.

First Solar Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding FSLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Solar, Inc. (NASDAQ:FSLRFree Report).

Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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