First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp cut its stake in First Solar, Inc. (NASDAQ:FSLR) by 11.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,786 shares of the solar cell manufacturer’s stock after selling 355 shares during the period. Fifth Third Bancorp’s holdings in First Solar were worth $352,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of FSLR. Norges Bank acquired a new stake in shares of First Solar in the fourth quarter worth approximately $317,399,000. Demars Financial Group LLC lifted its position in First Solar by 17,404.5% during the fourth quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer’s stock valued at $127,379,000 after buying an additional 718,631 shares in the last quarter. Mirova US LLC lifted its position in First Solar by 961.0% during the fourth quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock valued at $113,906,000 after buying an additional 585,394 shares in the last quarter. Amundi lifted its position in First Solar by 31.0% during the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock valued at $336,871,000 after buying an additional 426,797 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in First Solar by 218.6% during the fourth quarter. Royal Bank of Canada now owns 446,799 shares of the solar cell manufacturer’s stock valued at $78,744,000 after buying an additional 306,581 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at First Solar

In other First Solar news, insider Patrick James Buehler sold 1,868 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $149.08, for a total value of $278,481.44. Following the transaction, the insider now directly owns 5,998 shares in the company, valued at $894,181.84. The trade was a 23.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Markus Gloeckler sold 9,557 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the transaction, the chief technology officer now owns 8,037 shares in the company, valued at $1,246,136.85. The trade was a 54.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,376 shares of company stock valued at $2,227,172. 0.48% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on FSLR. Mizuho lifted their price target on shares of First Solar from $251.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, June 2nd. BMO Capital Markets reduced their price target on shares of First Solar from $200.00 to $187.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Piper Sandler reduced their price target on shares of First Solar from $230.00 to $205.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Wolfe Research raised shares of First Solar from a “peer perform” rating to an “outperform” rating and set a $221.00 price target on the stock in a research report on Tuesday, May 13th. Finally, Glj Research raised shares of First Solar from a “hold” rating to a “buy” rating and set a $172.37 price target on the stock in a research report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $229.19.

First Solar Stock Performance

NASDAQ FSLR opened at $143.67 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.93 and a quick ratio of 1.39. The firm has a market capitalization of $15.41 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 0.29 and a beta of 1.53. The company’s fifty day moving average is $149.44 and its two-hundred day moving average is $158.09. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $268.12.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). The company had revenue of $844.57 million for the quarter, compared to analyst estimates of $863.11 million. First Solar had a net margin of 29.72% and a return on equity of 16.32%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 earnings per share. Equities research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

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.