Banco Bilbao Vizcaya Argentaria S.A. Lowers Position in First Solar, Inc. (NASDAQ:FSLR)

Banco Bilbao Vizcaya Argentaria S.A. lowered its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 36.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,343 shares of the solar cell manufacturer’s stock after selling 2,441 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in First Solar were worth $769,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of First Solar during the fourth quarter valued at $317,399,000. Demars Financial Group LLC lifted its position in First Solar by 17,404.5% during the fourth quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer’s stock valued at $127,379,000 after purchasing an additional 718,631 shares during the period. Mirova US LLC lifted its position in First Solar by 961.0% during the fourth quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock valued at $113,906,000 after purchasing an additional 585,394 shares during the period. Amundi grew its position in First Solar by 31.0% in the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock worth $336,871,000 after purchasing an additional 426,797 shares during the period. Finally, Wellington Management Group LLP raised its holdings in First Solar by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer’s stock worth $415,899,000 after purchasing an additional 262,482 shares during the period. Institutional investors own 92.08% of the company’s stock.

Insiders Place Their Bets

In other First Solar news, insider Georges Antoun sold 229 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $30,628.75. Following the completion of the transaction, the insider now directly owns 52,836 shares of the company’s stock, valued at approximately $7,066,815. This trade represents a 0.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Alexander R. Bradley sold 599 shares of First Solar stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $80,116.25. Following the transaction, the chief financial officer now directly owns 45,717 shares of the company’s stock, valued at approximately $6,114,648.75. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,311 shares of company stock valued at $4,767,158. 0.48% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on FSLR shares. Morgan Stanley set a $223.00 target price on shares of First Solar and gave the company an “overweight” rating in a research note on Wednesday. Bank of America lowered their target price on First Solar from $236.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Susquehanna dropped their price objective on shares of First Solar from $223.00 to $217.00 and set a “positive” rating for the company in a research note on Monday, April 14th. Finally, Piper Sandler cut their price objective on shares of First Solar from $230.00 to $205.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $249.96.

First Solar Stock Up 4.0 %

NASDAQ:FSLR opened at $141.86 on Monday. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $306.77. The stock has a market capitalization of $15.21 billion, a P/E ratio of 12.22, a P/E/G ratio of 0.19 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company’s 50-day simple moving average is $133.46 and its 200-day simple moving average is $168.44.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data 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). The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. On average, equities analysts anticipate that First Solar, Inc. will post 13.05 earnings per share 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.