First Solar, Inc. $FSLR Shares Sold by Maxi Investments CY Ltd

Maxi Investments CY Ltd reduced its stake in First Solar, Inc. (NASDAQ:FSLR) by 83.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,950 shares of the solar cell manufacturer’s stock after selling 55,700 shares during the quarter. Maxi Investments CY Ltd’s holdings in First Solar were worth $2,415,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Morse Asset Management Inc raised its stake in shares of First Solar by 9.0% during the third quarter. Morse Asset Management Inc now owns 13,156 shares of the solar cell manufacturer’s stock worth $2,901,000 after purchasing an additional 1,086 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of First Solar by 9.2% during the third quarter. Mercer Global Advisors Inc. ADV now owns 21,656 shares of the solar cell manufacturer’s stock worth $4,776,000 after purchasing an additional 1,832 shares during the period. Lido Advisors LLC grew its position in First Solar by 36.1% in the 3rd quarter. Lido Advisors LLC now owns 11,533 shares of the solar cell manufacturer’s stock valued at $2,544,000 after buying an additional 3,062 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in First Solar in the 3rd quarter valued at $426,000. Finally, Hilltop Holdings Inc. increased its stake in First Solar by 8.6% in the 3rd quarter. Hilltop Holdings Inc. now owns 1,465 shares of the solar cell manufacturer’s stock valued at $323,000 after buying an additional 116 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $199.48 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.35 and a current ratio of 2.67. First Solar, Inc. has a one year low of $116.56 and a one year high of $285.99. The firm has a market capitalization of $21.41 billion, a P/E ratio of 14.04, a PEG ratio of 0.32 and a beta of 1.65. The company’s fifty day moving average is $225.79 and its two-hundred day moving average is $236.47.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.38). First Solar had a net margin of 29.28% and a return on equity of 17.32%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the prior year, the business earned $3.65 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FSLR has been the subject of a number of analyst reports. Robert W. Baird restated a “neutral” rating and set a $205.00 price objective (down from $264.00) on shares of First Solar in a research report on Wednesday, February 25th. JPMorgan Chase & Co. dropped their price target on shares of First Solar from $303.00 to $256.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Morgan Stanley cut their price target on shares of First Solar from $275.00 to $230.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. Evercore reduced their price objective on shares of First Solar from $241.00 to $212.00 in a research report on Thursday, March 5th. Finally, Raymond James Financial assumed coverage on First Solar in a report on Monday, January 12th. They issued a “market perform” rating on the stock. Twenty analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average target price of $249.65.

Insider Activity at First Solar

In other news, CFO Alexander R. Bradley sold 3,194 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $195.93, for a total transaction of $625,800.42. Following the sale, the chief financial officer owned 40,794 shares of the company’s stock, valued at $7,992,768.42. The trade was a 7.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Jason E. Dymbort sold 3,273 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $195.93, for a total value of $641,278.89. Following the completion of the sale, the general counsel owned 16,625 shares in the company, valued at approximately $3,257,336.25. This represents a 16.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 47,761 shares of company stock valued at $9,276,424 in the last ninety days. Company insiders own 0.48% of the company’s stock.

First Solar Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.