Nisa Investment Advisors LLC Sells 6,261 Shares of First Solar, Inc. $FSLR

Nisa Investment Advisors LLC lowered its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 27.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,481 shares of the solar cell manufacturer’s stock after selling 6,261 shares during the quarter. Nisa Investment Advisors LLC’s holdings in First Solar were worth $2,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fiduciary Financial Group LLC raised its stake in shares of First Solar by 2.3% during the 2nd quarter. Fiduciary Financial Group LLC now owns 2,026 shares of the solar cell manufacturer’s stock valued at $478,000 after buying an additional 45 shares during the last quarter. Burford Brothers Inc. increased its holdings in shares of First Solar by 0.3% in the first quarter. Burford Brothers Inc. now owns 19,131 shares of the solar cell manufacturer’s stock valued at $3,774,000 after purchasing an additional 51 shares during the last quarter. Hilltop Holdings Inc. increased its holdings in shares of First Solar by 3.5% in the first quarter. Hilltop Holdings Inc. now owns 1,608 shares of the solar cell manufacturer’s stock valued at $317,000 after purchasing an additional 54 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in First Solar by 0.3% during the second quarter. TD Waterhouse Canada Inc. now owns 17,102 shares of the solar cell manufacturer’s stock worth $3,973,000 after buying an additional 55 shares in the last quarter. Finally, Cox Capital Mgt LLC lifted its position in First Solar by 0.4% during the third quarter. Cox Capital Mgt LLC now owns 13,989 shares of the solar cell manufacturer’s stock worth $2,450,000 after buying an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

NASDAQ:FSLR opened at $171.99 on Friday. The firm has a 50-day moving average of $192.86 and a two-hundred day moving average of $218.21. The stock has a market cap of $18.48 billion, a P/E ratio of 10.60, a PEG ratio of 0.47 and a beta of 1.80. First Solar, Inc. has a 1-year low of $168.60 and a 1-year high of $320.95.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 EPS for the quarter, beating the consensus estimate 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%. The firm’s revenue was down 3.4% compared to the same quarter last year. During the same period last year, the firm earned $3.18 EPS. As a group, equities analysts expect that First Solar, Inc. will post 17.63 earnings per share for the current year.

Insider Transactions at First Solar

In other news, EVP Samantha L. Sloan sold 127 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $222.95, for a total transaction of $28,314.65. Following the sale, the executive vice president directly owned 2,018 shares in the company, valued at approximately $449,913.10. The trade was a 5.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 800 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $174.00, for a total value of $139,200.00. Following the completion of the transaction, the chief technology officer directly owned 5,042 shares of the company’s stock, valued at approximately $877,308. This trade represents a 13.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,681 shares of company stock worth $3,756,286 in the last ninety days. Company insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

FSLR has been the subject of several analyst reports. Piper Sandler dropped their target price on First Solar from $260.00 to $251.00 and set an “overweight” rating for the company in a report on Wednesday, September 30th. HC Wainwright initiated coverage on First Solar in a report on Thursday, August 27th. They issued a “buy” rating for the company. Guggenheim reaffirmed a “buy” rating on shares of First Solar in a report on Monday, September 28th. Wells Fargo & Company increased their price target on shares of First Solar from $300.00 to $313.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Robert W. Baird dropped their price target on First Solar from $318.00 to $290.00 and set an “outperform” rating for the company in a research report on Tuesday, September 22nd. Two research 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’s stock. Based on data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and an average target price of $265.73.

More First Solar News

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 Company 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.