First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Cerity Partners LLC

Cerity Partners LLC decreased its stake in First Solar, Inc. (NASDAQ:FSLR) by 14.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,385 shares of the solar cell manufacturer’s stock after selling 398 shares during the period. Cerity Partners LLC’s holdings in First Solar were worth $411,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FSLR. First Pacific Financial purchased a new position in First Solar during the 3rd quarter valued at about $27,000. Estabrook Capital Management purchased a new position in First Solar during the 3rd quarter valued at about $29,000. Headinvest LLC purchased a new position in First Solar during the 3rd quarter valued at about $30,000. Manchester Capital Management LLC purchased a new position in First Solar during the 3rd quarter valued at about $37,000. Finally, Blue Trust Inc. increased its holdings in First Solar by 24.3% during the 4th quarter. Blue Trust Inc. now owns 445 shares of the solar cell manufacturer’s stock valued at $71,000 after acquiring an additional 87 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Trading Down 1.4 %

Shares of FSLR stock opened at $175.02 on Friday. The stock has a market cap of $18.73 billion, a price-to-earnings ratio of 22.61, a price-to-earnings-growth ratio of 0.31 and a beta of 1.41. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. First Solar, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $232.00. The firm’s 50 day moving average price is $162.96 and its two-hundred day moving average price is $156.96.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 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 business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the company posted ($0.07) earnings per share. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, analysts anticipate that First Solar, Inc. will post 13.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FSLR. Janney Montgomery Scott began coverage on shares of First Solar in a report on Friday, April 12th. They set a “buy” rating and a $236.00 price target for the company. DZ Bank began coverage on shares of First Solar in a report on Wednesday, April 17th. They set a “buy” rating and a $205.00 price target for the company. Wells Fargo & Company upgraded shares of First Solar from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $187.00 to $250.00 in a report on Friday, April 19th. Evercore ISI upgraded shares of First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price target for the company in a report on Tuesday. Finally, Oppenheimer reiterated an “outperform” rating and set a $269.00 price target on shares of First Solar in a report on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $231.36.

Insider Transactions at First Solar

In other news, insider Georges Antoun sold 2,400 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $176.00, for a total transaction of $422,400.00. Following the transaction, the insider now directly owns 37,412 shares of the company’s stock, valued at $6,584,512. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CTO Markus Gloeckler sold 1,937 shares of First Solar stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $175.00, for a total value of $338,975.00. Following the completion of the sale, the chief technology officer now owns 12,536 shares in the company, valued at $2,193,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Georges Antoun sold 2,400 shares of First Solar stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total transaction of $422,400.00. Following the completion of the sale, the insider now owns 37,412 shares of the company’s stock, valued at approximately $6,584,512. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,620 shares of company stock valued at $4,269,540. Corporate insiders own 0.58% of the company’s stock.

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.