Bessemer Group Inc. Has $493,000 Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Bessemer Group Inc. lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 7.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,795 shares of the solar cell manufacturer’s stock after selling 228 shares during the period. Bessemer Group Inc.’s holdings in First Solar were worth $493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of FSLR. Virtu Financial LLC boosted its stake in First Solar by 38.5% during the third quarter. Virtu Financial LLC now owns 8,041 shares of the solar cell manufacturer’s stock worth $2,006,000 after buying an additional 2,235 shares in the last quarter. Morse Asset Management Inc increased its stake in First Solar by 10.7% in the third quarter. Morse Asset Management Inc now owns 12,449 shares of the solar cell manufacturer’s stock valued at $3,105,000 after acquiring an additional 1,199 shares during the period. Blankinship & Foster LLC acquired a new position in First Solar in the third quarter worth about $935,000. Peapack Gladstone Financial Corp lifted its stake in First Solar by 33.3% during the third quarter. Peapack Gladstone Financial Corp now owns 24,553 shares of the solar cell manufacturer’s stock worth $6,125,000 after purchasing an additional 6,135 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in First Solar by 10.4% during the third quarter. Franklin Resources Inc. now owns 131,634 shares of the solar cell manufacturer’s stock valued at $32,835,000 after purchasing an additional 12,439 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

Insider Transactions at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the completion of the sale, the insider now owns 3,549 shares in the company, valued at approximately $484,793.40. This trade represents a 67.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction on Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the sale, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,311 shares of company stock worth $4,767,158. Company insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

FSLR has been the subject of several analyst reports. Redburn Atlantic initiated coverage on First Solar in a research report on Monday, March 3rd. They set a “neutral” rating for the company. JPMorgan Chase & Co. lowered their target price on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Bank of America reduced their price target on shares of First Solar from $236.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. BMO Capital Markets reiterated an “outperform” rating and issued a $230.00 target price (down previously from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company decreased their price target on First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Four 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 data from MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and a consensus price target of $251.63.

First Solar Stock Performance

Shares of FSLR opened at $126.82 on Wednesday. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $306.77. 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 cap of $13.58 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. The stock has a 50-day moving average price of $138.39 and a 200-day moving average price of $174.42.

First Solar (NASDAQ:FSLR) last released its 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 during the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, equities analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

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.