Lindbrook Capital LLC Lowers Holdings in First Solar, Inc. (NASDAQ:FSLR)

Lindbrook Capital LLC trimmed its holdings in First Solar, Inc. (NASDAQ:FSLR) by 68.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 391 shares of the solar cell manufacturer’s stock after selling 841 shares during the period. Lindbrook Capital LLC’s holdings in First Solar were worth $69,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC purchased a new position in First Solar in the third quarter worth approximately $25,000. Kennebec Savings Bank purchased a new position in First Solar in the third quarter worth approximately $29,000. Larson Financial Group LLC lifted its stake in First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after purchasing an additional 107 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares in the last quarter. Finally, Crews Bank & Trust acquired a new position in First Solar during the fourth quarter worth $53,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Stock Up 6.1 %

First Solar stock opened at $139.13 on Friday. First Solar, Inc. has a 1-year low of $124.96 and a 1-year high of $306.77. 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 stock has a market cap of $14.90 billion, a PE ratio of 11.98, a P/E/G ratio of 0.19 and a beta of 1.52. The stock’s fifty day moving average is $167.08 and its two-hundred day moving average is $194.60.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($1.16). The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. On average, sell-side analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other First Solar news, insider Kuntal Kumar Verma sold 7,475 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the transaction, the insider now owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. This trade represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 103,403 shares in the company, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. UBS Group decreased their price target on First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company decreased their price target on First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada decreased their price target on First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Redburn Atlantic assumed coverage on First Solar in a research note on Monday, March 3rd. They set a “neutral” rating on the stock. Finally, Bank of America decreased their price target on First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $262.08.

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.