Sandy Spring Bank Grows Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Sandy Spring Bank increased its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 17.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,556 shares of the solar cell manufacturer’s stock after acquiring an additional 1,113 shares during the quarter. Sandy Spring Bank’s holdings in First Solar were worth $1,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Larson Financial Group LLC raised its holdings in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after buying an additional 107 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings 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 worth $47,000 after purchasing an additional 63 shares during the period. Crews Bank & Trust bought a new stake in shares of First Solar in the fourth quarter worth about $53,000. Hudson Edge Investment Partners Inc. purchased a new position in First Solar during the 4th quarter valued at about $53,000. Finally, Financial Avengers Inc. purchased a new stake in First Solar in the 3rd quarter worth approximately $77,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Kuntal Kumar Verma sold 7,475 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the sale, the insider now directly owns 3,549 shares in the company, valued at $484,793.40. This trade represents a 67.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock valued at $4,767,158 in the last ninety days. Corporate insiders own 0.58% of the company’s stock.

First Solar Trading Down 0.7 %

Shares of First Solar stock opened at $128.46 on Friday. First Solar, Inc. has a 1-year low of $124.96 and a 1-year high of $306.77. The company’s fifty day simple moving average is $157.42 and its 200-day simple moving average is $188.89. 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 capitalization of $13.75 billion, a PE ratio of 11.06, a P/E/G ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. As a group, equities analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Wall Street Analyst Weigh In

FSLR has been the subject of a number of recent analyst reports. Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Robert W. Baird dropped their target price on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Barclays reduced their price target on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Royal Bank of Canada lowered their price objective on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, Citigroup decreased their target price on First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $262.08.

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.