Allspring Global Investments Holdings LLC Sells 4,016 Shares of First Solar, Inc. (NASDAQ:FSLR)

Allspring Global Investments Holdings LLC lessened its position in First Solar, Inc. (NASDAQ:FSLR) by 41.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,598 shares of the solar cell manufacturer’s stock after selling 4,016 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in First Solar were worth $964,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in First Solar by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock worth $1,945,549,000 after acquiring an additional 279,424 shares during the period. Wellington Management Group LLP increased its holdings in shares of First Solar by 10.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,283,705 shares of the solar cell manufacturer’s stock worth $369,024,000 after purchasing an additional 211,755 shares during the period. Schroder Investment Management Group increased its holdings in shares of First Solar by 9.4% during the 3rd quarter. Schroder Investment Management Group now owns 2,102,959 shares of the solar cell manufacturer’s stock worth $339,817,000 after purchasing an additional 181,034 shares during the period. Clean Energy Transition LLP increased 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 during the period. Finally, Northern Trust Corp increased its holdings in shares of First Solar by 8.0% during the 3rd quarter. Northern Trust Corp now owns 1,003,771 shares of the solar cell manufacturer’s stock worth $162,199,000 after purchasing an additional 74,431 shares during the period. Institutional investors own 92.08% of the company’s stock.

Insider Transactions at First Solar

In other news, insider Kuntal Kumar Verma sold 250 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 5,170 shares in the company, valued at $766,917.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Kuntal Kumar Verma sold 250 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 5,170 shares in the company, valued at $766,917.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction of $236,640.00. Following the completion of the transaction, the director now owns 15,641 shares in the company, valued at $2,467,524.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,620 shares of company stock worth $4,269,540. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on FSLR shares. Wells Fargo & Company upgraded shares of First Solar from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $187.00 to $250.00 in a report on Friday, April 19th. Mizuho boosted their price objective on shares of First Solar from $188.00 to $196.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Roth Mkm restated a “buy” rating and set a $230.00 price objective on shares of First Solar in a report on Thursday, April 18th. Barclays upped their target price on shares of First Solar from $224.00 to $227.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, Evercore ISI raised shares of First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 target price on the stock in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.36.

First Solar Price Performance

NASDAQ:FSLR opened at $180.10 on Wednesday. The firm has a market cap of $19.28 billion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 0.30 and a beta of 1.41. First Solar, Inc. has a 12 month low of $129.21 and a 12 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 company’s 50-day moving average price is $162.27 and its two-hundred day moving average price is $156.68.

First Solar (NASDAQ:FSLR) last announced 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. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The company 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 business earned ($0.07) earnings per share. First Solar’s quarterly revenue was up 15.5% on a year-over-year basis. On average, equities analysts anticipate that First Solar, Inc. will post 13.55 EPS for the current fiscal year.

About First Solar

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.