First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Comerica Bank

Comerica Bank reduced its holdings in First Solar, Inc. (NASDAQ:FSLR) by 12.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,800 shares of the solar cell manufacturer’s stock after selling 2,082 shares during the quarter. Comerica Bank’s holdings in First Solar were worth $2,608,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FSLR. Smartleaf Asset Management LLC raised its stake in shares of First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after purchasing an additional 63 shares in the last quarter. Crews Bank & Trust bought a new stake in shares of First Solar during the 4th quarter worth about $53,000. Hudson Edge Investment Partners Inc. acquired a new stake in shares of First Solar in the 4th quarter worth approximately $53,000. CoreFirst Bank & Trust bought a new position in shares of First Solar in the fourth quarter valued at approximately $54,000. Finally, Montag A & Associates Inc. increased its stake in shares of First Solar by 18.8% during the fourth quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer’s stock valued at $84,000 after acquiring an additional 75 shares during the period. Institutional investors own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

FSLR has been the subject of several research reports. Wells Fargo & Company decreased their target price on First Solar from $191.00 to $177.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Barclays lowered their price objective on shares of First Solar from $236.00 to $204.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Jefferies Financial Group lowered shares of First Solar from a “buy” rating to a “hold” rating and cut their target price for the company from $202.00 to $127.00 in a research note on Wednesday, April 30th. Citigroup decreased their price target on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Finally, Robert W. Baird reduced their price objective on First Solar from $267.00 to $240.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and an average price target of $223.87.

Insiders Place Their Bets

In other First Solar news, insider Kuntal Kumar Verma sold 419 shares of First Solar stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $132.96, for a total value of $55,710.24. Following the transaction, the insider now directly owns 4,695 shares of the company’s stock, valued at $624,247.20. The trade was a 8.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the sale, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,311 shares of company stock valued at $4,767,158 in the last quarter. Insiders own 0.48% of the company’s stock.

First Solar Stock Performance

FSLR opened at $133.76 on Friday. The stock has a 50-day moving average of $130.14 and a 200-day moving average of $164.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $306.77. The company has a market cap of $14.34 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 0.19 and a beta of 1.46.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.55). The company had revenue of $844.57 million for the quarter, compared to analyst estimates of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the business earned $2.20 EPS. As a group, equities research analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

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.