First Solar, Inc. (NASDAQ:FSLR) Stock Position Trimmed by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its position in First Solar, Inc. (NASDAQ:FSLR) by 25.3% during the 1st quarter, HoldingsChannel reports. The firm owned 4,422 shares of the solar cell manufacturer’s stock after selling 1,499 shares during the quarter. Nisa Investment Advisors LLC’s holdings in First Solar were worth $559,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Linden Thomas Advisory Services LLC lifted its position in First Solar by 4.3% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 2,243 shares of the solar cell manufacturer’s stock valued at $284,000 after purchasing an additional 92 shares during the last quarter. Hourglass Capital LLC bought a new stake in shares of First Solar during the 1st quarter worth about $942,000. Abound Financial LLC bought a new stake in shares of First Solar during the 1st quarter worth about $45,000. Lightrock Netherlands B.V. raised its position in shares of First Solar by 117.6% during the 1st quarter. Lightrock Netherlands B.V. now owns 105,861 shares of the solar cell manufacturer’s stock worth $13,406,000 after buying an additional 57,219 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in shares of First Solar by 4,760.8% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,194 shares of the solar cell manufacturer’s stock worth $910,000 after buying an additional 7,046 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

First Solar Stock Performance

Shares of FSLR opened at $171.93 on Wednesday. The company’s 50 day moving average price is $161.74 and its 200 day moving average price is $153.83. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $262.72. The company has a market capitalization of $18.44 billion, a PE ratio of 14.62, a PEG ratio of 0.32 and a beta of 1.52. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.39 and a current ratio of 1.93.

First Solar (NASDAQ:FSLR) last posted its 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 business had revenue of $844.57 million during the quarter, compared to the consensus estimate of $863.11 million. First Solar had a return on equity of 16.32% and a net margin of 29.72%. The business’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.20 earnings per share. Research analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on FSLR. Barclays dropped their price target on shares of First Solar from $236.00 to $204.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Royal Bank Of Canada boosted their price target on shares of First Solar from $188.00 to $200.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 1st. Jefferies Financial Group boosted their price target on shares of First Solar from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Tuesday. UBS Group reiterated a “positive” rating on shares of First Solar in a report on Tuesday, July 8th. Finally, Robert W. Baird dropped their target price on shares of First Solar from $267.00 to $240.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average price target of $228.87.

Insiders Place Their Bets

In other First Solar news, insider Michael Koralewski sold 2,951 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $158.21, for a total value of $466,877.71. Following the completion of the sale, the insider directly owned 11,369 shares of the company’s stock, valued at $1,798,689.49. The trade was a 20.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Patrick James Buehler sold 1,600 shares of the business’s stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total transaction of $288,000.00. Following the completion of the sale, the insider directly owned 4,398 shares of the company’s stock, valued at $791,640. This represents a 26.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,976 shares of company stock valued at $2,515,172 over the last ninety days. Corporate insiders own 0.48% 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.