Foster Victor Wealth Advisors LLC Has $4.21 Million Holdings in First Solar, Inc. $FSLR

Foster Victor Wealth Advisors LLC lessened its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 63.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 17,262 shares of the solar cell manufacturer’s stock after selling 30,392 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in First Solar were worth $4,207,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FSLR. Woodline Partners LP raised its holdings in First Solar by 40.7% during the 1st quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock worth $1,143,000 after buying an additional 2,615 shares during the period. EverSource Wealth Advisors LLC raised its holdings in First Solar by 50.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 516 shares of the solar cell manufacturer’s stock worth $85,000 after buying an additional 174 shares during the period. Brown Advisory Inc. raised its holdings in First Solar by 84.3% during the 2nd quarter. Brown Advisory Inc. now owns 4,529 shares of the solar cell manufacturer’s stock worth $750,000 after buying an additional 2,072 shares during the period. Cerity Partners LLC acquired a new stake in First Solar during the 2nd quarter worth about $494,000. Finally, AXA S.A. raised its holdings in First Solar by 6.3% during the 2nd quarter. AXA S.A. now owns 18,862 shares of the solar cell manufacturer’s stock worth $3,122,000 after buying an additional 1,115 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FSLR. JPMorgan Chase & Co. dropped their target price on First Solar from $303.00 to $256.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Wolfe Research downgraded First Solar from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Robert W. Baird reiterated a “neutral” rating and issued a $205.00 target price (down from $264.00) on shares of First Solar in a report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft downgraded First Solar from a “buy” rating to a “hold” rating and dropped their target price for the company from $300.00 to $245.00 in a report on Wednesday, February 25th. Finally, Mizuho dropped their target price on First Solar from $326.00 to $271.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Twenty equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $246.13.

Insiders Place Their Bets

In related news, CFO Alexander R. Bradley sold 14,106 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $199.97, for a total value of $2,820,776.82. Following the completion of the sale, the chief financial officer owned 30,000 shares of the company’s stock, valued at approximately $5,999,100. The trade was a 31.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mark R. Widmar sold 1,937 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $200.80, for a total value of $388,949.60. Following the completion of the sale, the chief executive officer directly owned 102,798 shares of the company’s stock, valued at approximately $20,641,838.40. The trade was a 1.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 75,989 shares of company stock worth $14,921,902 in the last quarter. Corporate insiders own 0.39% of the company’s stock.

First Solar Trading Up 0.1%

Shares of NASDAQ FSLR opened at $200.61 on Wednesday. The stock has a market cap of $21.56 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 0.43 and a beta of 1.61. The business has a 50 day simple moving average of $206.79 and a 200 day simple moving average of $234.73. First Solar, Inc. has a 52 week low of $119.09 and a 52 week high of $285.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.35 and a current ratio of 2.67.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 EPS for the quarter, missing the consensus estimate of $5.22 by ($0.38). The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.59 billion. First Solar had a net margin of 29.28% and a return on equity of 17.32%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.65 EPS. On average, research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

First Solar Company Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.