Wealth Architects LLC Decreases Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Wealth Architects LLC lowered its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 4.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,782 shares of the solar cell manufacturer’s stock after selling 80 shares during the period. Wealth Architects LLC’s holdings in First Solar were worth $445,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its holdings in First Solar by 14.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock worth $89,000 after buying an additional 45 shares during the period. Davis Investment Partners LLC increased its position in shares of First Solar by 0.6% during the third quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock valued at $1,805,000 after buying an additional 46 shares during the period. Oregon Public Employees Retirement Fund raised its stake in First Solar by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock worth $2,068,000 after buying an additional 49 shares in the last quarter. Cambridge Trust Co. lifted its holdings in First Solar by 1.6% in the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock worth $546,000 after buying an additional 50 shares during the period. Finally, Gilman Hill Asset Management LLC boosted its position in First Solar by 2.8% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock valued at $455,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on FSLR. Bank of America dropped their price target on First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Truist Financial initiated coverage on shares of First Solar in a report on Thursday, September 26th. They set a “buy” rating and a $300.00 target price on the stock. Morgan Stanley cut their price objective on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. The Goldman Sachs Group lowered their target price on shares of First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Wells Fargo & Company reduced their price objective on First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $281.13.

Insider Activity at First Solar

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares in the company, valued at $769,896. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the sale, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.58% of the stock is owned by company insiders.

First Solar Stock Performance

Shares of FSLR opened at $194.02 on Thursday. First Solar, Inc. has a one year low of $129.21 and a one year high of $306.77. The business has a fifty day moving average of $220.18 and a 200 day moving average of $224.94. 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 has a market capitalization of $20.77 billion, a P/E ratio of 16.71, a PEG ratio of 0.37 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company earned $2.50 EPS. First Solar’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, sell-side analysts anticipate that First Solar, Inc. will post 13.12 EPS for the current year.

First Solar 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.