SG Americas Securities LLC Reduces Holdings in First Solar, Inc. (NASDAQ:FSLR)

SG Americas Securities LLC lessened its position in shares of First Solar, Inc. (NASDAQ:FSLRFree Report) by 61.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,585 shares of the solar cell manufacturer’s stock after selling 5,675 shares during the quarter. SG Americas Securities LLC’s holdings in First Solar were worth $618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. First Pacific Financial purchased a new position in shares of First Solar during the 3rd quarter valued at $27,000. Estabrook Capital Management purchased a new position in shares of First Solar during the 3rd quarter valued at $29,000. Headinvest LLC purchased a new position in shares of First Solar during the 3rd quarter valued at $30,000. Harbor Investment Advisory LLC purchased a new stake in First Solar during the 3rd quarter worth about $32,000. Finally, Covestor Ltd lifted its holdings in First Solar by 97.7% during the 1st quarter. Covestor Ltd now owns 421 shares of the solar cell manufacturer’s stock worth $35,000 after purchasing an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insider Activity

In other news, insider Georges Antoun sold 16,667 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the sale, the insider now owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Georges Antoun sold 16,667 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the sale, the insider now owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the sale, the director now directly owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,283 shares of company stock valued at $3,508,165. 0.58% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on FSLR. Oppenheimer increased their price objective on First Solar from $268.00 to $269.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Royal Bank of Canada reissued an “outperform” rating and set a $195.00 price objective on shares of First Solar in a report on Wednesday, February 28th. Wells Fargo & Company cut First Solar from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $215.00 to $187.00 in a report on Monday, January 8th. Mizuho increased their price objective on First Solar from $188.00 to $196.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Finally, Morgan Stanley raised First Solar from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $214.00 to $237.00 in a report on Friday, December 8th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Check Out Our Latest Stock Report on FSLR

First Solar Price Performance

Shares of First Solar stock opened at $166.73 on Thursday. The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $17.85 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 0.30 and a beta of 1.41. The business’s 50-day moving average price is $153.61 and its 200-day moving average price is $154.89. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $232.00.

First Solar (NASDAQ:FSLRGet Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating the consensus estimate of $3.19 by $0.06. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company earned ($0.07) EPS. The company’s revenue was up 15.5% on a year-over-year basis. Sell-side analysts forecast that First Solar, Inc. will post 13.51 EPS for the current fiscal year.

First Solar 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)

Receive News & Ratings for First Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Solar and related companies with MarketBeat.com's FREE daily email newsletter.