Allspring Global Investments Holdings LLC Trims Stake in First Solar, Inc. (NASDAQ:FSLR)

Allspring Global Investments Holdings LLC lowered its stake in First Solar, Inc. (NASDAQ:FSLR) by 41.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,598 shares of the solar cell manufacturer’s stock after selling 4,016 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in First Solar were worth $964,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Advisors Asset Management Inc. lifted its stake in shares of First Solar by 0.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 18,634 shares of the solar cell manufacturer’s stock worth $3,011,000 after purchasing an additional 85 shares during the period. Hanson & Doremus Investment Management raised its position in shares of First Solar by 0.7% in the 3rd quarter. Hanson & Doremus Investment Management now owns 12,294 shares of the solar cell manufacturer’s stock worth $1,987,000 after buying an additional 86 shares during the period. Blue Trust Inc. raised its position in shares of First Solar by 24.3% in the 4th quarter. Blue Trust Inc. now owns 445 shares of the solar cell manufacturer’s stock worth $71,000 after buying an additional 87 shares during the period. Guinness Atkinson Asset Management Inc raised its position in shares of First Solar by 1.2% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 7,409 shares of the solar cell manufacturer’s stock worth $1,197,000 after buying an additional 90 shares during the period. Finally, ABLE Financial Group LLC increased its holdings in First Solar by 7.5% in the 4th quarter. ABLE Financial Group LLC now owns 1,440 shares of the solar cell manufacturer’s stock valued at $248,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Mizuho increased their price target on First Solar from $188.00 to $196.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. Susquehanna reiterated a “positive” rating and issued a $258.00 price target on shares of First Solar in a report on Friday, April 5th. Wells Fargo & Company upgraded 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. Oppenheimer reiterated an “outperform” rating and issued a $269.00 price target on shares of First Solar in a report on Wednesday, April 17th. Finally, Roth Mkm reiterated a “buy” rating and issued a $230.00 price target on shares of First Solar in a report on Thursday, April 18th. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $231.36.

First Solar Stock Up 2.2 %

NASDAQ:FSLR opened at $180.10 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55. The stock has a 50-day simple moving average of $162.27 and a 200 day simple moving average of $156.68. First Solar, Inc. has a one year low of $129.21 and a one year high of $232.00. The company has a market capitalization of $19.28 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 0.30 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company posted ($0.07) earnings per share. First Solar’s revenue was up 15.5% on a year-over-year basis. Sell-side analysts predict that First Solar, Inc. will post 13.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the transaction, the insider now owns 5,170 shares of the company’s stock, valued at $766,917.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Georges Antoun sold 2,400 shares of First Solar stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total transaction of $422,400.00. Following the sale, the insider now owns 37,412 shares of the company’s stock, valued at $6,584,512. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the sale, the insider now directly owns 5,170 shares in the company, valued at approximately $766,917.80. The disclosure for this sale can be found here. Insiders have sold 26,620 shares of company stock valued at $4,269,540 over the last quarter. Insiders own 0.58% of the company’s stock.

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.