Alliancebernstein L.P. Grows Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Alliancebernstein L.P. lifted its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 9.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 194,038 shares of the solar cell manufacturer’s stock after purchasing an additional 17,389 shares during the period. Alliancebernstein L.P. owned 0.18% of First Solar worth $34,197,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Whalen Wealth Management Inc. lifted its holdings in First Solar by 47.0% in the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock worth $856,000 after buying an additional 1,554 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in First Solar by 665.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock worth $7,308,000 after acquiring an additional 34,074 shares during the period. Stifel Financial Corp boosted its holdings in First Solar by 36.9% in the third 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 valued at $1,240,000. Finally, Robeco Institutional Asset Management B.V. lifted its position 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 purchasing an additional 49,074 shares during the period. 92.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FSLR shares. Wells Fargo & Company reduced their price target on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada reduced their price target on First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. BMO Capital Markets reissued an “outperform” rating and set a $230.00 price objective (down previously from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. Morgan Stanley decreased their target price on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Finally, Barclays dropped their price target on First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $260.42.

Insider Transactions at First Solar

In other news, insider Georges Antoun sold 229 shares of First Solar stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $30,628.75. Following the transaction, the insider now directly owns 52,836 shares of the company’s stock, valued at $7,066,815. The trade was a 0.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the completion of the sale, the insider now directly owns 3,549 shares of the company’s stock, valued at $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock worth $4,767,158 in the last 90 days. 0.58% of the stock is currently owned by insiders.

First Solar Trading Down 5.5 %

Shares of NASDAQ:FSLR opened at $128.69 on Friday. The stock’s 50-day simple moving average is $145.44 and its two-hundred day simple moving average is $181.47. The stock has a market capitalization of $13.78 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a 52-week low of $120.60 and a 52-week high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last posted 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 return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

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.