ProShare Advisors LLC Sells 19,963 Shares of First Solar, Inc. $FSLR

ProShare Advisors LLC trimmed its stake in First Solar, Inc. (NASDAQ:FSLR) by 42.8% during the 4th quarter, Holdings Channel reports. The firm owned 26,705 shares of the solar cell manufacturer’s stock after selling 19,963 shares during the quarter. ProShare Advisors LLC’s holdings in First Solar were worth $6,976,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of FSLR. Aventura Private Wealth LLC bought a new position in shares of First Solar in the fourth quarter worth approximately $25,000. Strategic Wealth Investment Group LLC bought a new position in shares of First Solar in the second quarter worth approximately $26,000. Elyxium Wealth LLC bought a new position in shares of First Solar in the fourth quarter worth approximately $30,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of First Solar in the third quarter worth approximately $44,000. Finally, Torren Management LLC bought a new position in shares of First Solar in the fourth quarter worth approximately $47,000. 92.08% of the stock is currently owned by institutional investors.

First Solar Price Performance

Shares of First Solar stock opened at $248.88 on Friday. First Solar, Inc. has a 52-week low of $135.50 and a 52-week high of $285.99. The stock has a market capitalization of $26.74 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 0.52 and a beta of 1.57. The company has a fifty day moving average of $203.89 and a 200-day moving average of $231.01. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the company earned $1.95 EPS. The firm’s revenue was up 23.6% on a year-over-year basis. Equities research analysts expect that First Solar, Inc. will post 17.64 EPS for the current year.

Insider Buying and Selling

In related news, CEO Mark R. Widmar sold 1,300 shares of First Solar stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $240.02, for a total value of $312,026.00. Following the transaction, the chief executive officer directly owned 93,848 shares of the company’s stock, valued at $22,525,396.96. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alexander R. Bradley sold 498 shares of First Solar stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $107,383.74. Following the completion of the transaction, the chief financial officer directly owned 30,712 shares in the company, valued at approximately $6,622,428.56. The trade was a 1.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 92,430 shares of company stock worth $18,670,055 in the last ninety days. 0.39% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FSLR. DZ Bank upgraded shares of First Solar to a “strong sell” rating in a research report on Thursday, February 26th. Argus upped their price objective on shares of First Solar from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. UBS Group reduced their price target on shares of First Solar from $300.00 to $290.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Zacks Research raised shares of First Solar from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of First Solar in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, First Solar has an average rating of “Moderate Buy” and a consensus target price of $247.40.

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.