Mitsubishi UFJ Trust & Banking Corp Has $7.78 Million Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Mitsubishi UFJ Trust & Banking Corp reduced its position in First Solar, Inc. (NASDAQ:FSLR) by 4.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,114 shares of the solar cell manufacturer’s stock after selling 2,017 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in First Solar were worth $7,775,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in First Solar by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer’s stock worth $2,259,697,000 after buying an additional 120,289 shares during the last quarter. State Street Corp increased its stake in shares of First Solar by 2.2% during the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock worth $1,236,383,000 after purchasing an additional 108,984 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of First Solar by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock valued at $647,440,000 after purchasing an additional 24,143 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of First Solar by 75.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after purchasing an additional 904,498 shares during the last quarter. Finally, Amundi boosted its holdings in First Solar by 31.0% in the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock worth $336,871,000 after purchasing an additional 426,797 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FSLR has been the topic of several recent research reports. Morgan Stanley cut their target price on First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Truist Financial reissued a “buy” rating and issued a $285.00 price objective (down from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Guggenheim lowered their price target on First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, UBS Group reduced their price objective on shares of First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $262.08.

First Solar Stock Up 0.6 %

FSLR opened at $127.32 on Friday. The company has a market capitalization of $13.63 billion, a P/E ratio of 10.97, 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 firm’s fifty day moving average price is $150.28 and its two-hundred day moving average price is $185.17. First Solar, Inc. has a fifty-two week low of $124.32 and a fifty-two week high of $306.77.

First Solar (NASDAQ:FSLR) last issued its earnings results 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. On average, analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the sale, the chief executive officer now directly owns 103,403 shares in the company, valued at $14,589,129.27. This represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Georges Antoun sold 229 shares of First Solar stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $30,628.75. Following the transaction, the insider now directly owns 52,836 shares of the company’s stock, valued at approximately $7,066,815. The trade was a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,311 shares of company stock worth $4,767,158. Company insiders own 0.58% of the company’s stock.

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.