Victory Capital Management Inc. Has $6.39 Million Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Victory Capital Management Inc. decreased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 11.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,243 shares of the solar cell manufacturer’s stock after selling 4,665 shares during the period. Victory Capital Management Inc.’s holdings in First Solar were worth $6,387,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its stake in 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 last quarter. Merewether Investment Management LP lifted its stake in First Solar by 993.4% in the 3rd quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock valued at $80,553,000 after purchasing an additional 293,400 shares during the last quarter. Erste Asset Management GmbH bought a new position in First Solar in the 3rd quarter valued at approximately $67,652,000. Handelsbanken Fonder AB lifted its stake in First Solar by 110.4% in the 4th quarter. Handelsbanken Fonder AB now owns 375,010 shares of the solar cell manufacturer’s stock valued at $66,092,000 after purchasing an additional 196,744 shares during the last quarter. Finally, Clean Energy Transition LLP lifted its stake in First Solar by 37.8% in the 3rd quarter. Clean Energy Transition LLP now owns 686,700 shares of the solar cell manufacturer’s stock valued at $171,290,000 after purchasing an additional 188,205 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $132.51 on Friday. The business’s 50 day moving average price is $162.48 and its 200 day moving average price is $191.64. The firm has a market cap of $14.19 billion, a P/E ratio of 11.41, a P/E/G ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a 52 week low of $124.96 and a 52 week high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.48 billion. On average, sell-side analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on FSLR shares. Truist Financial reissued a “buy” rating and issued a $285.00 price objective (down previously from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and raised their price target for the company from $218.00 to $259.00 in a research note on Tuesday, February 11th. Seaport Res Ptn raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Citigroup dropped their price target on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, Bank of America dropped their price target on shares of 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $262.08.

Insider Buying and Selling at First Solar

In related news, insider Kuntal Kumar Verma sold 419 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $55,710.24. Following the completion of the sale, the insider now directly owns 4,695 shares of the company’s stock, valued at approximately $624,247.20. This trade represents a 8.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the sale, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at $14,589,129.27. The trade was a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,739 shares of company stock worth $4,289,403. 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.