Pacer Advisors Inc. Decreases Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Pacer Advisors Inc. reduced its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 20.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 7,622 shares of the solar cell manufacturer’s stock after selling 1,980 shares during the quarter. Pacer Advisors Inc.’s holdings in First Solar were worth $1,718,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Schroder Investment Management Group grew its stake in shares of First Solar by 16.7% in the 4th quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock worth $422,861,000 after buying an additional 351,540 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in First Solar by 11.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after acquiring an additional 279,719 shares in the last quarter. Canada Pension Plan Investment Board grew its position in First Solar by 2,429.1% in the second quarter. Canada Pension Plan Investment Board now owns 174,530 shares of the solar cell manufacturer’s stock worth $39,350,000 after acquiring an additional 167,629 shares in the last quarter. Park West Asset Management LLC purchased a new stake in First Solar during the fourth quarter valued at approximately $26,359,000. Finally, Swedbank AB bought a new stake in shares of First Solar in the 1st quarter valued at approximately $21,815,000. Institutional investors own 92.08% of the company’s stock.

Insider Activity at First Solar

In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the completion of the transaction, the chief accounting officer now owns 500 shares of the company’s stock, valued at $108,250. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the sale, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the sale, the chief accounting officer now owns 500 shares in the company, valued at approximately $108,250. The disclosure for this sale can be found here. Insiders have sold 10,885 shares of company stock valued at $2,405,757 in the last ninety days. Corporate insiders own 0.58% of the company’s stock.

First Solar Stock Up 5.8 %

Shares of NASDAQ FSLR opened at $255.66 on Friday. The stock has a market capitalization of $27.37 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 0.42 and a beta of 1.44. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $306.77. The stock’s fifty day simple moving average is $224.73 and its two-hundred day simple moving average is $215.14.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm’s revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.85 earnings per share. As a group, analysts expect that First Solar, Inc. will post 13.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FSLR has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on First Solar from $215.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Morgan Stanley increased their target price on shares of First Solar from $248.00 to $331.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. Janney Montgomery Scott cut shares of First Solar from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 18th. BMO Capital Markets reduced their price objective on shares of First Solar from $311.00 to $286.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Finally, Truist Financial started coverage on First Solar in a research report on Thursday. They set a “buy” rating and a $300.00 target price for the company. Five investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $284.12.

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.