Atria Wealth Solutions Inc. Decreases Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Atria Wealth Solutions Inc. cut its stake in First Solar, Inc. (NASDAQ:FSLR) by 21.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,433 shares of the solar cell manufacturer’s stock after selling 2,035 shares during the period. Atria Wealth Solutions Inc.’s holdings in First Solar were worth $1,280,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FSLR. Estabrook Capital Management purchased a new position in First Solar in the third quarter valued at $29,000. Baystate Wealth Management LLC purchased a new stake in First Solar during the 4th quarter worth about $29,000. Headinvest LLC purchased a new stake in First Solar during the 3rd quarter worth about $30,000. Rakuten Securities Inc. purchased a new stake in First Solar during the 4th quarter worth about $34,000. Finally, Manchester Capital Management LLC purchased a new stake in First Solar during the 3rd quarter worth about $37,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $195.00 price target on shares of First Solar in a report on Wednesday, February 28th. DZ Bank assumed coverage on First Solar in a report on Wednesday, April 17th. They set a “buy” rating and a $205.00 price target for the company. Mizuho lifted their price target on First Solar from $188.00 to $196.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Oppenheimer reissued an “outperform” rating and issued a $269.00 target price on shares of First Solar in a report on Wednesday, April 17th. Finally, Roth Mkm reissued a “buy” rating and issued a $230.00 target price on shares of First Solar in a report on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $233.92.

First Solar Stock Performance

NASDAQ FSLR opened at $177.58 on Thursday. The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $164.33 and its two-hundred day moving average is $157.70. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $232.00. The stock has a market capitalization of $19.01 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 0.31 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.06. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the firm posted ($0.07) EPS. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. Research analysts expect that First Solar, Inc. will post 13.55 EPS for the current year.

Insider Transactions at First Solar

In other news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the sale, the insider now owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director R Craig Kennedy sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00. Following the sale, the director now owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the sale, the insider now directly owns 42,041 shares in the company, valued at approximately $6,539,477.55. The disclosure for this sale can be found here. Insiders have sold 26,620 shares of company stock valued at $4,269,540 in the last quarter. 0.58% of the stock is currently owned by corporate insiders.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.