Prime Capital Investment Advisors LLC Sells 9,827 Shares of First Solar, Inc. $FSLR

Prime Capital Investment Advisors LLC decreased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 66.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,915 shares of the solar cell manufacturer’s stock after selling 9,827 shares during the period. Prime Capital Investment Advisors LLC’s holdings in First Solar were worth $861,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Secure Asset Management LLC lifted its holdings in shares of First Solar by 14.8% in the third quarter. Secure Asset Management LLC now owns 24,653 shares of the solar cell manufacturer’s stock valued at $4,318,000 after buying an additional 3,183 shares during the period. Novem Group grew its holdings in First Solar by 1.9% during the third quarter. Novem Group now owns 5,574 shares of the solar cell manufacturer’s stock worth $976,000 after acquiring an additional 104 shares during the period. IFP Advisors Inc grew its holdings in First Solar by 58.7% during the third quarter. IFP Advisors Inc now owns 3,266 shares of the solar cell manufacturer’s stock worth $572,000 after acquiring an additional 1,208 shares during the period. New England Research & Management Inc. bought a new stake in First Solar in the third quarter worth about $447,000. Finally, Vontobel Holding Ltd. raised its position in First Solar by 42.4% in the third quarter. Vontobel Holding Ltd. now owns 64,624 shares of the solar cell manufacturer’s stock worth $11,320,000 after acquiring an additional 19,240 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FSLR has been the subject of a number of research analyst reports. BMO Capital Markets downgraded shares of First Solar from a “hold” rating to a “market perform” rating in a report on Thursday, August 27th. Truist Financial set a $270.00 target price on shares of First Solar and gave the stock a “buy” rating in a report on Monday, October 12th. Barclays dropped their target price on shares of First Solar from $279.00 to $259.00 and set an “overweight” rating on the stock in a report on Thursday, October 15th. Weiss Ratings lowered shares of First Solar from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday. Finally, Guggenheim restated a “buy” rating on shares of First Solar in a report on Monday, September 28th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $265.73.

First Solar News Roundup

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: BMO Capital issued a Buy rating on First Solar, providing a constructive analyst signal that may support investor confidence in the company’s long-term growth prospects. First Solar Gets a Buy from BMO Capital
• Positive Sentiment: Analysts and investors are focused on whether U.S. demand for domestically manufactured solar panels is strengthening. Firm domestic demand could benefit First Solar’s production utilization and revenue outlook. Is Domestic Panel Demand Firming for First Solar?
• Neutral Sentiment: First Solar is scheduled to report quarterly earnings, making the upcoming results, management guidance and commentary on demand key near-term catalysts. First Solar Projected to Announce Quarterly Earnings
• Neutral Sentiment: Investor attention has increased, with First Solar appearing among trending stocks. The heightened visibility could increase trading activity but does not itself change the company’s fundamentals. First Solar Is a Trending Stock
• Neutral Sentiment: Coverage is also highlighting First Solar’s substantial cash position, which may provide financial flexibility for expansion and help cushion periods of industry volatility. Should You Buy First Solar Stock For Its Cash?
• Negative Sentiment: Zacks reported that First Solar underperformed the broader market in the latest session, reflecting near-term selling pressure. First Solar Declines More Than the Market
• Negative Sentiment: Pre-earnings analysis says First Solar lacks the combination of earnings-estimate revisions and surprise indicators typically associated with a likely earnings beat. That raises the risk of a cautious reaction if results or guidance disappoint. First Solar Earnings Expected to Grow

First Solar Stock Up 0.4%

NASDAQ:FSLR opened at $171.99 on Friday. First Solar, Inc. has a 1-year low of $168.60 and a 1-year high of $320.95. The firm has a market capitalization of $18.48 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 0.47 and a beta of 1.80. The stock has a fifty day simple moving average of $192.86 and a 200 day simple moving average of $218.21.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $1.02. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. First Solar had a return on equity of 18.02% and a net margin of 32.47%. First Solar’s revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the business posted $3.18 EPS. Equities analysts predict that First Solar, Inc. will post 17.63 earnings per share for the current year.

Insider Activity

In related news, EVP Samantha L. Sloan sold 127 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $222.95, for a total value of $28,314.65. Following the completion of the sale, the executive vice president owned 2,018 shares in the company, valued at approximately $449,913.10. This represents a 5.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Markus Gloeckler sold 3,425 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $218.95, for a total transaction of $749,903.75. Following the completion of the transaction, the chief technology officer directly owned 7,471 shares of the company’s stock, valued at $1,635,775.45. This represents a 31.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 16,681 shares of company stock valued at $3,756,286. 0.39% of the stock is currently owned by insiders.

First Solar Profile

First Solar, Inc is a vertically integrated solar technology and manufacturing company that designs, manufactures and sells photovoltaic (PV) solar modules. Its modules use advanced thin-film semiconductor technology based on cadmium telluride (CdTe), rather than the crystalline-silicon technology used by most solar manufacturers. The company serves utility-scale solar developers, commercial and industrial customers, and other large-scale energy users.

Founded in 1999 and headquartered in Tempe, Arizona, First Solar operates research and development, manufacturing and recycling facilities in the United States and internationally.