Wealth Architects LLC Sells 77 Shares of First Solar, Inc. (NASDAQ:FSLR)

Wealth Architects LLC trimmed its position in First Solar, Inc. (NASDAQ:FSLR) by 4.3% during the fourth quarter, Holdings Channel reports. The firm owned 1,705 shares of the solar cell manufacturer’s stock after selling 77 shares during the quarter. Wealth Architects LLC’s holdings in First Solar were worth $300,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp raised its holdings in shares of First Solar by 2.2% in the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock valued at $1,236,383,000 after purchasing an additional 108,984 shares during the period. Geode Capital Management LLC raised its holdings in shares of First Solar by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock valued at $647,440,000 after purchasing an additional 24,143 shares during the period. Wellington Management Group LLP raised its holdings in shares of First Solar by 75.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after purchasing an additional 904,498 shares during the period. Amundi raised its holdings in shares of First Solar by 31.0% in the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock valued at $336,871,000 after purchasing an additional 426,797 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of First Solar by 0.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock valued at $434,977,000 after purchasing an additional 15,890 shares during the period. 92.08% of the stock is owned by institutional investors.

First Solar Price Performance

First Solar stock opened at $132.51 on Monday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $14.19 billion, a PE ratio of 11.41, a P/E/G ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a 12 month low of $124.96 and a 12 month high of $306.77. The stock has a 50-day moving average price of $162.48 and a two-hundred day moving average price of $191.07.

First Solar (NASDAQ:FSLR) last issued its quarterly 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). The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. Analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Buying and Selling

In related news, CEO Mark R. Widmar sold 1,272 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $169,125.12. Following the completion of the sale, the chief executive officer now owns 109,000 shares of the company’s stock, valued at $14,492,640. This trade represents a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kuntal Kumar Verma sold 419 shares of the firm’s 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 sale, the insider now directly owns 4,695 shares of the company’s stock, valued at $624,247.20. This represents a 8.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,739 shares of company stock valued at $4,289,403 over the last 90 days. Company insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FSLR shares. Piper Sandler decreased their price target on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Roth Mkm restated a “buy” rating and set a $280.00 price objective on shares of First Solar in a research report on Wednesday, February 26th. Wells Fargo & Company reduced their price target on First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price objective on First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $285.00 price objective (down from $300.00) on shares of First Solar in a report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Company 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.