First Solar, Inc. $FSLR Stock Holdings Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 656,769 shares of the solar cell manufacturer’s stock after selling 10,063 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.61% of First Solar worth $144,837,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC raised its holdings in shares of First Solar by 2.6% during the 3rd quarter. Signaturefd LLC now owns 1,879 shares of the solar cell manufacturer’s stock valued at $414,000 after purchasing an additional 47 shares in the last quarter. Figure 8 Investment Strategies LLC increased its position in 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 worth $1,790,000 after buying an additional 48 shares during the last quarter. Hemington Wealth Management lifted its position in shares of First Solar by 22.9% in the third quarter. Hemington Wealth Management now owns 306 shares of the solar cell manufacturer’s stock worth $67,000 after buying an additional 57 shares during the last quarter. Ethic Inc. boosted its stake in shares of First Solar by 0.3% during the 3rd quarter. Ethic Inc. now owns 20,443 shares of the solar cell manufacturer’s stock worth $4,508,000 after acquiring an additional 59 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its stake in shares of First Solar by 13.4% during the 2nd quarter. Penserra Capital Management LLC now owns 560 shares of the solar cell manufacturer’s stock worth $92,000 after acquiring an additional 66 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Buying and Selling at First Solar

In other news, Director Michael T. Sweeney sold 4,500 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $271.11, for a total value of $1,219,995.00. Following the completion of the transaction, the director owned 13,662 shares in the company, valued at approximately $3,703,904.82. This represents a 24.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Georges Antoun sold 37,412 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $265.01, for a total transaction of $9,914,554.12. Following the transaction, the insider directly owned 15,424 shares of the company’s stock, valued at $4,087,514.24. The trade was a 70.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,912 shares of company stock valued at $12,971,349 in the last 90 days. 0.48% of the stock is currently owned by company insiders.

First Solar Trading Up 0.7%

First Solar stock opened at $225.52 on Friday. The business has a 50 day moving average price of $255.74 and a two-hundred day moving average price of $229.87. The company has a quick ratio of 1.55, a current ratio of 1.91 and a debt-to-equity ratio of 0.03. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $285.99. The stock has a market cap of $24.20 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 0.29 and a beta of 1.60.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing the consensus estimate of $4.32 by ($0.08). The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.56 billion. First Solar had a return on equity of 16.61% and a net margin of 27.73%.First Solar’s revenue for the quarter was up 79.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.91 EPS. As a group, equities analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Needham & Company LLC initiated coverage on First Solar in a report on Wednesday, October 22nd. They issued a “buy” rating and a $286.00 target price for the company. Barclays reissued an “overweight” rating and issued a $279.00 price target on shares of First Solar in a research report on Monday, November 3rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $316.00 price objective on shares of First Solar in a report on Friday, October 31st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $300.00 price objective on shares of First Solar in a research note on Wednesday, January 7th. Finally, Bank of America decreased their target price on First Solar from $291.00 to $271.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $275.94.

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.