First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,516 shares of the solar cell manufacturer’s stock after selling 2,276 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned 0.25% of First Solar worth $47,147,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FSLR. Hel Ved Capital Management Ltd purchased a new position in First Solar in the fourth quarter valued at about $2,194,000. Resona Asset Management Co. Ltd. purchased a new position in shares of First Solar during the 4th quarter valued at approximately $5,458,000. Motley Fool Asset Management LLC increased its stake in shares of First Solar by 7.4% in the fourth quarter. Motley Fool Asset Management LLC now owns 1,576 shares of the solar cell manufacturer’s stock worth $278,000 after buying an additional 108 shares during the last quarter. World Investment Advisors acquired a new stake in First Solar in the fourth quarter valued at $292,000. Finally, Westpac Banking Corp boosted its stake in First Solar by 8.9% during the 4th quarter. Westpac Banking Corp now owns 917 shares of the solar cell manufacturer’s stock valued at $162,000 after acquiring an additional 75 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Solar

In other news, CFO Alexander R. Bradley sold 599 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $80,116.25. Following the completion of the sale, the chief financial officer now owns 45,717 shares in the company, valued at approximately $6,114,648.75. This represents a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $136.60, for a total value of $1,021,085.00. Following the sale, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,311 shares of company stock valued at $4,767,158. 0.58% of the stock is owned by insiders.

First Solar Price Performance

NASDAQ FSLR opened at $128.69 on Friday. First Solar, Inc. has a 12 month low of $120.60 and a 12 month high of $306.77. The firm has a market capitalization of $13.78 billion, a PE ratio of 11.08, a P/E/G ratio of 0.19 and a beta of 1.52. The company’s 50 day simple moving average is $145.44 and its 200 day simple moving average is $181.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Citigroup cut their target price on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Robert W. Baird reduced their target price on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Royal Bank of Canada lowered their price target on First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Truist Financial restated a “buy” rating and set a $245.00 price objective (down from $285.00) on shares of First Solar in a research note on Wednesday. Finally, Piper Sandler decreased their price objective on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Four 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. According to data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $260.42.

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.