First Solar, Inc. $FSLR Stake Lowered by Boston Common Asset Management LLC

Boston Common Asset Management LLC trimmed its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 9.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,789 shares of the solar cell manufacturer’s stock after selling 4,315 shares during the quarter. Boston Common Asset Management LLC’s holdings in First Solar were worth $11,178,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Linden Thomas Advisory Services LLC increased its position in First Solar by 1.7% in the third quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer’s stock worth $504,000 after buying an additional 39 shares during the period. Signaturefd LLC lifted its stake in First Solar by 2.6% in the third quarter. Signaturefd LLC now owns 1,879 shares of the solar cell manufacturer’s stock valued at $414,000 after buying an additional 47 shares during the last quarter. Figure 8 Investment Strategies LLC boosted its holdings in shares of First Solar by 0.6% during the third quarter. Figure 8 Investment Strategies LLC now owns 8,116 shares of the solar cell manufacturer’s stock valued at $1,790,000 after acquiring an additional 48 shares during the period. Rathbones Group PLC grew its position in shares of First Solar by 1.0% during the third quarter. Rathbones Group PLC now owns 4,930 shares of the solar cell manufacturer’s stock worth $1,087,000 after acquiring an additional 51 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of First Solar by 5.9% during the third quarter. Allworth Financial LP now owns 956 shares of the solar cell manufacturer’s stock worth $211,000 after acquiring an additional 53 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of First Solar from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Jefferies Financial Group restated a “hold” rating and issued a $205.00 target price on shares of First Solar in a research report on Thursday, February 26th. DZ Bank upgraded shares of First Solar to a “strong sell” rating in a research note on Thursday, February 26th. Zacks Research cut First Solar from a “hold” rating to a “strong sell” rating in a report on Monday, March 16th. Finally, Deutsche Bank Aktiengesellschaft downgraded First Solar from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $300.00 to $245.00 in a research report on Wednesday, February 25th. Twenty analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, First Solar has a consensus rating of “Moderate Buy” and a consensus price target of $248.17.

Insider Activity

In other First Solar news, insider Kuntal Kumar Verma sold 180 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $199.53, for a total value of $35,915.40. Following the completion of the sale, the insider directly owned 9,436 shares in the company, valued at $1,882,765.08. This represents a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark R. Widmar sold 1,937 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $200.80, for a total value of $388,949.60. Following the transaction, the chief executive officer directly owned 102,798 shares of the company’s stock, valued at approximately $20,641,838.40. The trade was a 1.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 75,989 shares of company stock valued at $14,921,902 over the last 90 days. Corporate insiders own 0.48% of the company’s stock.

First Solar Stock Performance

Shares of FSLR opened at $184.70 on Tuesday. The firm has a market capitalization of $19.82 billion, a PE ratio of 13.00, a P/E/G ratio of 0.33 and a beta of 1.65. The company has a quick ratio of 2.35, a current ratio of 2.67 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $215.52 and a 200 day moving average price of $235.91. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $285.99.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 EPS for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.38). The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.59 billion. First Solar had a return on equity of 17.32% and a net margin of 29.28%.The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.65 earnings per share. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

First Solar Company Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.