Corient Private Wealth LLC Has $2.22 Million Stake in First Solar, Inc. (NASDAQ:FSLR)

Corient Private Wealth LLC reduced its stake in First Solar, Inc. (NASDAQ:FSLR) by 4.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 12,590 shares of the solar cell manufacturer’s stock after selling 648 shares during the quarter. Corient Private Wealth LLC’s holdings in First Solar were worth $2,219,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FSLR. Clear Harbor Asset Management LLC lifted its stake in shares of First Solar by 0.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock worth $1,623,000 after buying an additional 55 shares during the last quarter. Doliver Advisors LP lifted its position in First Solar by 1.2% during the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock worth $831,000 after acquiring an additional 56 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after acquiring an additional 63 shares during the period. Independent Advisor Alliance grew its position in shares of First Solar by 3.1% in the fourth quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock valued at $368,000 after purchasing an additional 63 shares during the last quarter. Finally, Mutual Advisors LLC increased its stake in shares of First Solar by 5.3% in the fourth quarter. Mutual Advisors LLC now owns 1,463 shares of the solar cell manufacturer’s stock worth $279,000 after purchasing an additional 73 shares during the period. Institutional investors own 92.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on FSLR shares. Robert W. Baird lowered their target price on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Piper Sandler lowered their price objective on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley cut 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. Roth Mkm restated a “buy” rating and issued a $280.00 price target on shares of First Solar in a research report on Wednesday, February 26th. Finally, Truist Financial reaffirmed a “buy” rating and set a $285.00 price objective (down previously from $300.00) on shares of First Solar in a research report on Wednesday, February 26th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $262.08.

Insider Activity

In other news, insider Kuntal Kumar Verma sold 7,475 shares of the company’s 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 transaction, the insider now directly owns 3,549 shares in the company, valued at approximately $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark R. Widmar sold 21,542 shares of the firm’s stock in a transaction that occurred 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 directly owns 103,403 shares of the company’s stock, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,311 shares of company stock worth $4,767,158. 0.58% of the stock is owned by corporate insiders.

First Solar Price Performance

NASDAQ:FSLR opened at $131.32 on Monday. The firm has a market cap of $14.06 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company’s 50-day moving average price is $156.26 and its two-hundred day moving average price is $187.86. The company has a quick ratio of 1.44, a current ratio of 2.14 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.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $1.48 billion. On average, equities analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

About First Solar

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.