First Solar, Inc. $FSLR Holdings Reduced by Perpetual Ltd

Perpetual Ltd lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 65.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,171 shares of the solar cell manufacturer’s stock after selling 5,946 shares during the quarter. Perpetual Ltd’s holdings in First Solar were worth $828,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Aventura Private Wealth LLC bought a new stake in First Solar during the 4th quarter valued at $25,000. Strategic Wealth Investment Group LLC bought a new position in shares of First Solar in the second quarter worth $26,000. Total Investment Management Inc. acquired a new position in shares of First Solar during the second quarter valued at $36,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of First Solar during the third quarter valued at about $44,000. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of First Solar during the second quarter valued at about $47,000. Institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

Shares of First Solar stock opened at $195.32 on Monday. The company has a current ratio of 2.67, a quick ratio of 2.35 and a debt-to-equity ratio of 0.03. The company’s 50-day moving average price is $211.91 and its two-hundred day moving average price is $235.64. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $285.99. The stock has a market cap of $20.96 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 0.35 and a beta of 1.61.

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

Insider Activity

In other First Solar news, insider Caroline Stockdale sold 335 shares of First Solar stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $200.80, for a total value of $67,268.00. Following the transaction, the insider owned 34,060 shares in the company, valued at approximately $6,839,248. The trade was a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kuntal Kumar Verma sold 180 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $199.53, for a total value of $35,915.40. Following the sale, the insider owned 9,436 shares of the company’s stock, valued at $1,882,765.08. This trade represents a 1.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 75,989 shares of company stock valued at $14,921,902 in the last ninety days. 0.48% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FSLR has been the subject of a number of recent analyst reports. Barclays decreased their target price on shares of First Solar from $279.00 to $228.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. HSBC restated a “hold” rating and set a $211.00 price target (down from $280.00) on shares of First Solar in a research report on Wednesday, February 25th. Raymond James Financial began coverage on shares of First Solar in a report on Monday, January 12th. They issued a “market perform” rating for the company. Zacks Research lowered shares of First Solar from a “hold” rating to a “strong sell” rating in a research note on Monday, March 16th. Finally, TD Cowen dropped their target price on First Solar from $320.00 to $253.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Twenty analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $247.79.

First Solar 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.