First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 30.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,928 shares of the solar cell manufacturer’s stock after selling 6,033 shares during the quarter. Sei Investments Co.’s holdings in First Solar were worth $3,140,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Dixon Mitchell Investment Counsel Inc. bought a new stake in First Solar in the first quarter valued at $25,000. University of Texas Texas AM Investment Managment Co. bought a new stake in First Solar in the 4th quarter valued at about $27,000. Atlas Capital Advisors LLC boosted its stake in First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares during the period. Riverview Trust Co bought a new position in First Solar in the 1st quarter worth about $32,000. Finally, Summit Securities Group LLC acquired a new stake in shares of First Solar in the second quarter valued at approximately $36,000. Institutional investors own 92.08% of the company’s stock.

Insider Activity

In related 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 completion of the sale, the insider now directly owns 3,468 shares in the company, valued at $769,896. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Patrick James Buehler sold 8,619 shares of the business’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 completion of the sale, the insider now directly owns 3,468 shares in the company, valued at $769,896. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $382,339.00. Following the completion of the transaction, the chief accounting officer now owns 500 shares in the company, valued at $108,250. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,885 shares of company stock worth $2,405,757. 0.58% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FSLR has been the subject of several recent analyst reports. Janney Montgomery Scott cut First Solar from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 18th. Truist Financial began coverage on shares of First Solar in a research note on Thursday, September 26th. They set a “buy” rating and a $300.00 target price on the stock. UBS Group upped their price target on shares of First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Susquehanna boosted their target price on First Solar from $258.00 to $285.00 and gave the stock a “positive” rating in a report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. increased their price target on First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $284.12.

First Solar Price Performance

FSLR opened at $235.12 on Friday. 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 1 year low of $129.21 and a 1 year high of $306.77. The stock has a fifty day moving average price of $226.71 and a 200 day moving average price of $218.07. The stock has a market cap of $25.17 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 0.42 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating the consensus estimate of $2.69 by $0.56. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.85 EPS. Analysts forecast that First Solar, Inc. will post 13.62 EPS 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.