Bank Julius Baer & Co. Ltd Zurich Sells 8,185 Shares of First Solar, Inc. (NASDAQ:FSLR)

Bank Julius Baer & Co. Ltd Zurich lessened its stake in First Solar, Inc. (NASDAQ:FSLR) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 116,074 shares of the solar cell manufacturer’s stock after selling 8,185 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in First Solar were worth $21,782,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in FSLR. Strengthening Families & Communities LLC acquired a new position in First Solar in the third quarter worth about $25,000. Kennebec Savings Bank acquired a new position in First Solar in the third quarter worth about $29,000. Larson Financial Group LLC raised its position in First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after purchasing an additional 107 shares in the last quarter. Smartleaf Asset Management LLC raised its position in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares in the last quarter. Finally, Crews Bank & Trust acquired a new position in First Solar in the fourth quarter worth about $53,000. Institutional investors own 92.08% of the company’s stock.

Analyst Ratings Changes

FSLR has been the subject of several recent research reports. Roth Mkm reissued a “buy” rating and issued a $280.00 price target on shares of First Solar in a research report on Wednesday, February 26th. Redburn Atlantic assumed coverage on shares of First Solar in a report on Monday, March 3rd. They set a “neutral” rating for the company. Royal Bank of Canada dropped their price objective on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. dropped their price objective on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Seaport Res Ptn raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Four investment 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $139.13 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 12 month low of $124.96 and a 12 month high of $306.77. The stock has a market cap of $14.90 billion, a P/E ratio of 11.98, a P/E/G ratio of 0.19 and a beta of 1.52. The company has a 50 day moving average of $167.08 and a 200 day moving average of $194.60.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data 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 business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. As a group, sell-side analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the sale, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the sale, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. This trade represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

First Solar 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.