Allspring Global Investments Holdings LLC Sells 430 Shares of First Solar, Inc. (NASDAQ:FSLR)

Allspring Global Investments Holdings LLC lessened its holdings in First Solar, Inc. (NASDAQ:FSLR) by 7.8% during the third quarter, HoldingsChannel.com reports. The firm owned 5,118 shares of the solar cell manufacturer’s stock after selling 430 shares during the period. Allspring Global Investments Holdings LLC’s holdings in First Solar were worth $1,277,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its position in shares of First Solar by 14.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock valued at $89,000 after buying an additional 45 shares during the last quarter. Davis Investment Partners LLC grew its stake in shares of First Solar by 0.6% in the third quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock valued at $1,805,000 after acquiring an additional 46 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in First Solar by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock valued at $2,068,000 after purchasing an additional 49 shares during the period. Cambridge Trust Co. raised its position in shares of First Solar by 1.6% in the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock valued at $546,000 after buying an additional 50 shares in the last quarter. Finally, Gilman Hill Asset Management LLC increased its stake in First Solar by 2.8% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock worth $455,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FSLR. Bank of America dropped their target price on shares of First Solar from $321.00 to $269.00 and set a “buy” rating for the company in a research report on Wednesday. William Blair began coverage on shares of First Solar in a research note on Thursday, August 29th. They issued a “market perform” rating on the stock. Guggenheim dropped their price objective on shares of First Solar from $368.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday. Jefferies Financial Group lowered their price target on shares of First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Finally, Susquehanna lowered their target price on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $281.13.

First Solar Price Performance

NASDAQ:FSLR opened at $194.48 on Friday. The firm has a market capitalization of $20.82 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 0.34 and a beta of 1.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. The stock has a fifty day moving average of $222.68 and a 200 day moving average of $223.93. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $306.77.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the firm earned $2.50 EPS. First Solar’s quarterly revenue was up 10.7% on a year-over-year basis. On average, research analysts expect that First Solar, Inc. will post 13.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the transaction, the insider now owns 3,468 shares in the company, valued at approximately $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the business’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 transaction, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at approximately $108,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is currently owned by corporate insiders.

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.