Bryn Mawr Capital Management LLC Sells 979 Shares of First Solar, Inc. (NASDAQ:FSLR)

Bryn Mawr Capital Management LLC cut its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 16.7% in the 4th quarter, Holdings Channel reports. The firm owned 4,871 shares of the solar cell manufacturer’s stock after selling 979 shares during the period. Bryn Mawr Capital Management LLC’s holdings in First Solar were worth $839,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in First Solar by 2.4% during the third quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock worth $1,945,549,000 after purchasing an additional 279,424 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of First Solar by 10.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,283,705 shares of the solar cell manufacturer’s stock valued at $369,024,000 after acquiring an additional 211,755 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of First Solar by 9.4% in the 3rd quarter. Schroder Investment Management Group now owns 2,102,959 shares of the solar cell manufacturer’s stock valued at $339,817,000 after acquiring an additional 181,034 shares during the last quarter. Clean Energy Transition LLP lifted its stake in shares of First Solar by 948.8% in the 3rd quarter. Clean Energy Transition LLP now owns 1,186,646 shares of the solar cell manufacturer’s stock valued at $191,750,000 after acquiring an additional 1,073,500 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of First Solar by 8.0% in the 3rd quarter. Northern Trust Corp now owns 1,003,771 shares of the solar cell manufacturer’s stock valued at $162,199,000 after acquiring an additional 74,431 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the sale, the director now owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO Markus Gloeckler sold 1,937 shares of First Solar stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $175.00, for a total value of $338,975.00. Following the completion of the transaction, the chief technology officer now directly owns 12,536 shares in the company, valued at approximately $2,193,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total transaction of $236,640.00. Following the completion of the transaction, the director now owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,620 shares of company stock valued at $4,269,540. 0.58% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on FSLR shares. Susquehanna reiterated a “positive” rating and issued a $258.00 price target on shares of First Solar in a research note on Friday, April 5th. Oppenheimer reaffirmed an “outperform” rating and set a $269.00 target price on shares of First Solar in a research report on Wednesday, April 17th. Bank of America raised their target price on First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Roth Mkm reaffirmed a “buy” rating and set a $230.00 target price on shares of First Solar in a research report on Thursday, April 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $195.00 price target on shares of First Solar in a report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $231.36.

First Solar Price Performance

First Solar stock opened at $178.73 on Friday. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $232.00. The company’s 50 day moving average price is $163.40 and its two-hundred day moving average price is $157.20. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. The stock has a market cap of $19.13 billion, a P/E ratio of 23.09, a P/E/G ratio of 0.30 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping the consensus estimate of $3.19 by $0.06. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the firm earned ($0.07) EPS. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities analysts predict that First Solar, Inc. will post 13.55 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.