First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,018 shares of the solar cell manufacturer’s stock after selling 695 shares during the quarter. Amalgamated Bank’s holdings in First Solar were worth $5,243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FSLR. Janney Montgomery Scott LLC lifted its holdings in First Solar by 51.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 25,548 shares of the solar cell manufacturer’s stock worth $4,313,000 after buying an additional 8,673 shares during the last quarter. Nordea Investment Management AB lifted its holdings in First Solar by 6.1% during the 1st quarter. Nordea Investment Management AB now owns 6,725 shares of the solar cell manufacturer’s stock worth $1,130,000 after buying an additional 389 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in First Solar by 4.2% during the 1st quarter. GSA Capital Partners LLP now owns 4,556 shares of the solar cell manufacturer’s stock worth $769,000 after buying an additional 182 shares during the last quarter. Empirical Finance LLC lifted its holdings in First Solar by 8.4% during the 1st quarter. Empirical Finance LLC now owns 1,722 shares of the solar cell manufacturer’s stock worth $291,000 after buying an additional 133 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in First Solar by 15.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,558 shares of the solar cell manufacturer’s stock worth $601,000 after buying an additional 481 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 3,468 shares in the company, valued at $769,896. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 3,468 shares in the company, valued at $769,896. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Barclays lifted their price target on First Solar from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Seaport Res Ptn raised First Solar to a “hold” rating in a report on Tuesday. Guggenheim reduced their target price on First Solar from $368.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Clarkson Capital initiated coverage on First Solar in a report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 target price for the company. Finally, Wells Fargo & Company reduced their target price on First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, First Solar has an average rating of “Moderate Buy” and a consensus price target of $281.13.

First Solar Stock Performance

NASDAQ FSLR opened at $196.70 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $219.65 and its two-hundred day moving average is $224.75. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $306.77. The stock has a market capitalization of $21.06 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 0.37 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the firm posted $2.50 EPS. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. Research analysts expect that First Solar, Inc. will post 13.12 EPS for the current 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.