First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its holdings in First Solar, Inc. (NASDAQ:FSLR) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,292 shares of the solar cell manufacturer’s stock after selling 283 shares during the quarter. Corebridge Financial Inc.’s holdings in First Solar were worth $4,634,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in First Solar by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer’s stock worth $2,259,697,000 after acquiring an additional 120,289 shares in the last quarter. LPL Financial LLC increased its holdings in shares of First Solar by 17.9% in the 4th quarter. LPL Financial LLC now owns 53,675 shares of the solar cell manufacturer’s stock valued at $9,460,000 after purchasing an additional 8,167 shares in the last quarter. Optimum Investment Advisors lifted its stake in shares of First Solar by 4.8% in the fourth quarter. Optimum Investment Advisors now owns 3,306 shares of the solar cell manufacturer’s stock valued at $583,000 after purchasing an additional 150 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in First Solar during the fourth quarter worth about $14,469,000. Finally, Sei Investments Co. grew its position in First Solar by 67.6% during the fourth quarter. Sei Investments Co. now owns 27,035 shares of the solar cell manufacturer’s stock worth $4,764,000 after buying an additional 10,906 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at First Solar

In other news, CTO Markus Gloeckler sold 380 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $50,825.00. Following the completion of the sale, the chief technology officer now owns 17,594 shares in the company, valued at approximately $2,353,197.50. The trade was a 2.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction, the chief executive officer now owns 103,403 shares in the company, valued at $14,589,129.27. The trade was a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,311 shares of company stock worth $4,767,158 in the last ninety days. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FSLR shares. Truist Financial reiterated a “buy” rating and set a $285.00 price target (down from $300.00) on shares of First Solar in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft set a $265.00 target price on First Solar in a research report on Thursday, February 27th. Mizuho raised First Solar from a “neutral” rating to an “outperform” rating and upped their target price for the company from $218.00 to $259.00 in a report on Tuesday, February 11th. Wells Fargo & Company cut their price target on First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, Morgan Stanley lowered their price objective on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Stock Up 0.6 %

FSLR opened at $127.32 on Monday. First Solar, Inc. has a 12 month low of $124.32 and a 12 month high of $306.77. The business has a 50-day moving average of $150.28 and a two-hundred day moving average of $184.79. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The stock has a market capitalization of $13.63 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current 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.