Erste Asset Management GmbH Sells 3,026 Shares of First Solar, Inc. (NASDAQ:FSLR)

Erste Asset Management GmbH reduced its holdings in First Solar, Inc. (NASDAQ:FSLR) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 261,496 shares of the solar cell manufacturer’s stock after selling 3,026 shares during the period. Erste Asset Management GmbH’s holdings in First Solar were worth $47,757,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Strengthening Families & Communities LLC bought a new stake in shares of First Solar during the third quarter valued at approximately $25,000. Larson Financial Group LLC increased its position in shares of First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares during the period. Smartleaf Asset Management LLC increased its position in shares of First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after purchasing an additional 63 shares during the period. Crews Bank & Trust bought a new stake in shares of First Solar during the fourth quarter valued at approximately $53,000. Finally, Hudson Edge Investment Partners Inc. bought a new stake in shares of First Solar during the fourth quarter valued at approximately $53,000. 92.08% of the stock is currently owned by institutional investors.

Insider Transactions at First Solar

In other news, CEO Mark R. Widmar sold 1,272 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $169,125.12. Following the completion of the transaction, the chief executive officer now owns 109,000 shares of the company’s stock, valued at approximately $14,492,640. The trade was a 1.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kuntal Kumar Verma sold 419 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $132.96, for a total value of $55,710.24. Following the sale, the insider now owns 4,695 shares in the company, valued at $624,247.20. This represents a 8.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,739 shares of company stock valued at $4,289,403. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FSLR. Deutsche Bank Aktiengesellschaft set a $265.00 price target on First Solar in a research note on Thursday, February 27th. Bank of America decreased their price target on First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Morgan Stanley decreased their price target on First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Guggenheim decreased their price target on First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $285.00 price target (down previously from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $262.08.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $136.04 on Thursday. The stock has a market capitalization of $14.56 billion, a PE ratio of 11.72, a P/E/G ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The business has a fifty day moving average price of $164.63 and a two-hundred day moving average price of $192.76. First Solar, Inc. has a fifty-two week low of $124.96 and a fifty-two week high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($1.16). The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, equities analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

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.