Raymond James & Associates Has $2.40 Million Holdings in First Solar, Inc. (NASDAQ:FSLR)

Raymond James & Associates lessened its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 19.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,927 shares of the solar cell manufacturer’s stock after selling 3,302 shares during the quarter. Raymond James & Associates’ holdings in First Solar were worth $2,399,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of FSLR. Norges Bank acquired a new stake in shares of First Solar during the 4th quarter worth approximately $213,049,000. Clean Energy Transition LLP grew its holdings in shares of First Solar by 948.8% during the 3rd quarter. Clean Energy Transition LLP now owns 1,186,646 shares of the solar cell manufacturer’s stock worth $191,750,000 after purchasing an additional 1,073,500 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of First Solar by 197.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,336,038 shares of the solar cell manufacturer’s stock worth $111,880,000 after purchasing an additional 887,443 shares in the last quarter. Samlyn Capital LLC acquired a new stake in shares of First Solar during the 1st quarter worth approximately $121,554,000. Finally, Bank of America Corp DE lifted its position in shares of First Solar by 889.2% during the 1st quarter. Bank of America Corp DE now owns 453,658 shares of the solar cell manufacturer’s stock worth $98,671,000 after buying an additional 511,143 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Buying and Selling

In related news, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction on Monday, March 18th. The stock was sold at an average price of $148.34, for a total transaction of $37,085.00. Following the completion of the sale, the insider now directly owns 5,170 shares of the company’s stock, valued at $766,917.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction on Monday, March 18th. The stock was sold at an average price of $148.34, for a total transaction of $37,085.00. Following the completion of the sale, the insider now directly owns 5,170 shares of the company’s stock, valued at $766,917.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Markus Gloeckler sold 1,937 shares of First Solar stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $175.00, for a total value of $338,975.00. Following the sale, the chief technology officer now directly owns 12,536 shares of the company’s stock, valued at $2,193,800. The disclosure for this sale can be found here. Insiders sold a total of 26,620 shares of company stock valued at $4,269,540 over the last three months. Company insiders own 0.58% of the company’s stock.

First Solar Trading Down 3.6 %

FSLR stock opened at $175.96 on Tuesday. The company has a market cap of $18.83 billion, a P/E ratio of 22.73, a PEG ratio of 0.31 and a beta of 1.41. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $232.00. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. The business has a fifty day moving average of $158.95 and a 200-day moving average of $155.69.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. The company 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 firm’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.07) earnings per share. As a group, equities research analysts expect that First Solar, Inc. will post 13.53 EPS for the current year.

Analysts Set New Price Targets

FSLR has been the subject of several analyst reports. Bank of America raised their target price on First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Oppenheimer raised their target price on First Solar from $268.00 to $269.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Wells Fargo & Company downgraded First Solar from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $215.00 to $187.00 in a research report on Monday, January 8th. Janney Montgomery Scott initiated coverage on First Solar in a research report on Friday. They set a “buy” rating and a $236.00 target price for the company. Finally, Royal Bank of Canada restated an “outperform” rating and set a $195.00 target price on shares of First Solar in a research report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average price target of $227.96.

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.