L & S Advisors Inc Has $1.73 Million Stock Position in First Solar, Inc. (NASDAQ:FSLR)

L & S Advisors Inc lessened its holdings in First Solar, Inc. (NASDAQ:FSLR) by 26.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,791 shares of the solar cell manufacturer’s stock after selling 3,606 shares during the period. L & S Advisors Inc’s holdings in First Solar were worth $1,726,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in FSLR. Whalen Wealth Management Inc. raised its stake in shares of First Solar by 47.0% in the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock worth $856,000 after purchasing an additional 1,554 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in First Solar by 665.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock valued at $7,308,000 after buying an additional 34,074 shares during the last quarter. Stifel Financial Corp lifted its stake in First Solar by 36.9% during the 3rd quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock valued at $5,350,000 after acquiring an additional 5,780 shares in the last quarter. Paragon Capital Management Inc. purchased a new position in First Solar during the 4th quarter worth $1,240,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of First Solar by 9.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock worth $104,910,000 after acquiring an additional 49,074 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $127.32 on Friday. The company has a 50 day moving average of $150.28 and a 200 day moving average of $185.17. 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 stock has a market cap of $13.63 billion, a P/E ratio of 10.97, a P/E/G ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a 12 month low of $124.32 and a 12 month high of $306.77.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 32.41% and a return on equity of 17.56%. As a group, sell-side analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FSLR. Morgan Stanley dropped their price target on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Truist Financial restated a “buy” rating and issued a $285.00 target price (down previously from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Roth Mkm reaffirmed a “buy” rating and set a $280.00 price target on shares of First Solar in a research report on Wednesday, February 26th. Guggenheim cut their price objective on First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Bank of America reduced their price objective on First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and an average target price of $262.08.

Insider Buying and Selling at First Solar

In related news, insider Georges Antoun sold 229 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $30,628.75. Following the completion of the transaction, the insider now directly owns 52,836 shares in the company, valued at approximately $7,066,815. The trade was a 0.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Markus Gloeckler sold 380 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $50,825.00. Following the sale, the chief technology officer now owns 17,594 shares in the company, valued at $2,353,197.50. The trade was a 2.11 % 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 90 days. Corporate insiders own 0.58% of the company’s stock.

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.