Natixis Lowers Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Natixis lowered its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 21.3% during the first quarter, HoldingsChannel.com reports. The firm owned 37,946 shares of the solar cell manufacturer’s stock after selling 10,289 shares during the period. Natixis’ holdings in First Solar were worth $6,405,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in First Solar by 4.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 548,058 shares of the solar cell manufacturer’s stock worth $94,419,000 after purchasing an additional 20,946 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of First Solar by 504.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock valued at $68,852,000 after acquiring an additional 333,496 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of First Solar by 6.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 259,177 shares of the solar cell manufacturer’s stock valued at $43,749,000 after acquiring an additional 15,430 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of First Solar by 20.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 121,055 shares of the solar cell manufacturer’s stock valued at $20,434,000 after acquiring an additional 20,465 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of First Solar by 1.7% in the fourth quarter. Northern Trust Corp now owns 1,020,527 shares of the solar cell manufacturer’s stock valued at $175,816,000 after acquiring an additional 16,756 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Down 2.3 %

NASDAQ FSLR traded down $5.14 during trading on Thursday, reaching $216.19. 1,651,748 shares of the company’s stock were exchanged, compared to its average volume of 2,517,878. The stock has a market cap of $23.14 billion, a P/E ratio of 22.66, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41. The company has a 50 day moving average price of $246.65 and a two-hundred day moving average price of $192.29. First Solar, Inc. has a 1 year low of $129.21 and a 1 year high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. The company had revenue of $794.10 million during the quarter, compared to the consensus estimate of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. First Solar’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 EPS. On average, equities research analysts anticipate that First Solar, Inc. will post 13.58 EPS for the current fiscal year.

Insider Transactions at First Solar

In related news, insider Kuntal Kumar Verma sold 1,621 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $260.00, for a total value of $421,460.00. Following the transaction, the insider now owns 3,549 shares in the company, valued at approximately $922,740. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Michael T. Sweeney sold 4,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $273.50, for a total value of $1,094,000.00. Following the transaction, the director now owns 16,692 shares in the company, valued at approximately $4,565,262. 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 1,621 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $260.00, for a total value of $421,460.00. Following the completion of the transaction, the insider now owns 3,549 shares in the company, valued at approximately $922,740. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,153 shares of company stock worth $12,540,428. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Mizuho restated a “neutral” rating and issued a $274.00 target price (up previously from $209.00) on shares of First Solar in a research report on Thursday, May 30th. Piper Sandler increased their price target on First Solar from $219.00 to $250.00 and gave the company an “overweight” rating in a report on Monday. Wells Fargo & Company raised First Solar from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $187.00 to $250.00 in a report on Friday, April 19th. Robert W. Baird cut their price target on First Solar from $344.00 to $307.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Finally, Janney Montgomery Scott cut First Solar from a “buy” rating to a “neutral” rating in a report on Tuesday, June 18th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and an average price target of $273.96.

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.