Harrington Investments INC Sells 1,677 Shares of First Solar, Inc. (NASDAQ:FSLR)


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Harrington Investments INC trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 10.6% during the fourth quarter, HoldingsChannel reports. The fund owned 14,160 shares of the solar cell manufacturer’s stock after selling 1,677 shares during the quarter. Harrington Investments INC’s holdings in First Solar were worth $1,401,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cubist Systematic Strategies LLC increased its position in First Solar by 1,203.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 76,038 shares of the solar cell manufacturer’s stock valued at $5,034,000 after purchasing an additional 70,205 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in shares of First Solar in the 3rd quarter valued at $432,000. ExodusPoint Capital Management LP acquired a new stake in shares of First Solar during the third quarter worth $1,038,000. Wetherby Asset Management Inc. raised its stake in First Solar by 11.2% during the third quarter. Wetherby Asset Management Inc. now owns 6,900 shares of the solar cell manufacturer’s stock worth $457,000 after buying an additional 696 shares during the last quarter. Finally, Paloma Partners Management Co bought a new position in First Solar during the third quarter worth $360,000. Hedge funds and other institutional investors own 50.69% of the company’s stock.

In related news, COO Philip Dejong sold 8,256 shares of the firm’s stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $91.15, for a total transaction of $752,534.40. Following the transaction, the chief operating officer now directly owns 8,877 shares of the company’s stock, valued at $809,138.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R Craig Kennedy sold 550 shares of the business’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $80.71, for a total transaction of $44,390.50. Following the transaction, the director now owns 28,084 shares in the company, valued at $2,266,659.64. The disclosure for this sale can be found here. Insiders have sold a total of 2,518,783 shares of company stock valued at $201,647,357 over the last three months. Corporate insiders own 0.54% of the company’s stock.

A number of analysts have weighed in on FSLR shares. Zacks Investment Research upgraded First Solar from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a report on Tuesday, December 29th. Smith Barney Citigroup began coverage on First Solar in a research note on Friday, January 8th. They set a “neutral” rating and a $106.00 target price for the company. JPMorgan Chase & Co. lifted their target price on First Solar from $94.00 to $101.00 and gave the stock a “neutral” rating in a report on Wednesday, December 9th. Piper Sandler initiated coverage on First Solar in a report on Thursday, December 10th. They set a “neutral” rating and a $92.00 price target on the stock. Finally, Barclays downgraded shares of First Solar from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $86.00 to $60.00 in a research report on Tuesday, December 1st. Six analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $87.32.

FSLR traded down $0.14 during trading on Wednesday, hitting $104.18. 1,770,572 shares of the company’s stock were exchanged, compared to its average volume of 3,814,245. First Solar, Inc. has a fifty-two week low of $28.47 and a fifty-two week high of $109.62. The stock has a market cap of $11.04 billion, a P/E ratio of 49.46, a PEG ratio of 1.49 and a beta of 1.22. The business’s 50 day moving average is $95.40 and its two-hundred day moving average is $77.39. The company has a quick ratio of 3.05, a current ratio of 3.83 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, October 27th. The solar cell manufacturer reported $1.45 EPS for the quarter, topping the consensus estimate of $0.60 by $0.85. First Solar had a net margin of 6.38% and a return on equity of 9.49%. The company had revenue of $927.57 million during the quarter, compared to the consensus estimate of $707.70 million. On average, sell-side analysts forecast that First Solar, Inc. will post 3.92 earnings per share for the current year.

First Solar Company Profile

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Modules segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity to integrators and operators of PV solar power systems.

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Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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