First Solar, Inc. (NASDAQ:FSLR) Position Increased by Beech Hill Advisors Inc.

Beech Hill Advisors Inc. increased its position in First Solar, Inc. (NASDAQ:FSLR) by 20.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 27,201 shares of the solar cell manufacturer’s stock after purchasing an additional 4,654 shares during the period. First Solar comprises about 1.9% of Beech Hill Advisors Inc.’s investment portfolio, making the stock its 14th biggest holding. Beech Hill Advisors Inc.’s holdings in First Solar were worth $4,592,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gilman Hill Asset Management LLC lifted its position in First Solar by 5.4% during the 1st quarter. Gilman Hill Asset Management LLC now owns 1,950 shares of the solar cell manufacturer’s stock worth $329,000 after acquiring an additional 100 shares during the last quarter. Riverview Trust Co bought a new stake in shares of First Solar during the first quarter valued at approximately $32,000. Doliver Advisors LP grew its stake in shares of First Solar by 3.2% during the first quarter. Doliver Advisors LP now owns 5,246 shares of the solar cell manufacturer’s stock valued at $886,000 after purchasing an additional 163 shares during the last quarter. Harbor Investment Advisory LLC lifted its holdings in First Solar by 36.0% in the first quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer’s stock valued at $46,000 after buying an additional 72 shares during the period. Finally, Ballentine Partners LLC lifted its holdings in First Solar by 5.9% in the first quarter. Ballentine Partners LLC now owns 1,945 shares of the solar cell manufacturer’s stock valued at $328,000 after buying an additional 109 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Trading Down 1.7 %

NASDAQ:FSLR opened at $256.74 on Wednesday. The stock’s 50 day moving average price is $228.65 and its 200 day moving average price is $183.45. The company has a market capitalization of $27.48 billion, a PE ratio of 26.91, a P/E/G ratio of 0.34 and a beta of 1.48. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $306.77.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, beating the consensus estimate of $1.90 by $0.30. The business had revenue of $794.10 million during the quarter, compared to analysts’ expectations of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The company’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same period last year, the firm earned $0.40 EPS. On average, research analysts anticipate that First Solar, Inc. will post 13.58 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. BMO Capital Markets raised their target price on shares of First Solar from $224.00 to $311.00 and gave the company an “outperform” rating in a research report on Monday, June 10th. JPMorgan Chase & Co. lifted their price objective on shares of First Solar from $240.00 to $262.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Jefferies Financial Group boosted their target price on shares of First Solar from $209.50 to $211.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group lifted their price target on shares of First Solar from $268.00 to $302.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Finally, Oppenheimer boosted their target price on shares of First Solar from $271.00 to $325.00 and gave the stock an “outperform” rating in a report on Wednesday, June 12th. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $265.72.

Insiders Place Their Bets

In related news, CFO Alexander R. Bradley sold 16,051 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the transaction, the chief financial officer now owns 30,652 shares in the company, valued at $8,419,797.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Alexander R. Bradley sold 16,051 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the completion of the transaction, the chief financial officer now directly owns 30,652 shares of the company’s stock, valued at approximately $8,419,797.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kuntal Kumar Verma sold 1,621 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $260.00, for a total value of $421,460.00. Following the completion of the sale, the insider now owns 3,549 shares of the company’s stock, valued at $922,740. The disclosure for this sale can be found here. Insiders have sold a total of 57,890 shares of company stock worth $13,709,131 over the last quarter. 0.58% of the stock is 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.