iA Global Asset Management Inc. Lowers Position in First Solar, Inc. (NASDAQ:FSLR)

iA Global Asset Management Inc. trimmed its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 60.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,268 shares of the solar cell manufacturer’s stock after selling 3,417 shares during the period. iA Global Asset Management Inc.’s holdings in First Solar were worth $511,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of FSLR. Cambridge Trust Co. grew its position in shares of First Solar by 1.6% during the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock valued at $546,000 after purchasing an additional 50 shares in the last quarter. Great Diamond Partners LLC boosted its stake in First Solar by 3.8% during the first quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer’s stock valued at $247,000 after buying an additional 53 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in First Solar by 24.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the solar cell manufacturer’s stock valued at $70,000 after buying an additional 62 shares in the last quarter. Family Legacy Inc. increased its stake in First Solar by 1.4% in the 1st quarter. Family Legacy Inc. now owns 4,950 shares of the solar cell manufacturer’s stock worth $836,000 after acquiring an additional 69 shares during the last quarter. Finally, Harbor Investment Advisory LLC raised its holdings in shares of First Solar by 36.0% during the 1st quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer’s stock worth $46,000 after acquiring an additional 72 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

First Solar Price Performance

Shares of FSLR stock opened at $227.37 on Friday. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $306.77. The company has a current ratio of 2.23, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $224.43 and a two-hundred day simple moving average of $205.36. The stock has a market capitalization of $24.34 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 0.37 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.85 earnings per share. On average, analysts predict that First Solar, Inc. will post 13.53 EPS for the current fiscal year.

Analysts Set New Price Targets

FSLR has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of First Solar from $215.00 to $280.00 and gave the company a “buy” rating in a report on Friday, June 28th. William Blair assumed coverage on shares of First Solar in a report on Thursday. They issued a “market perform” rating on the stock. UBS Group increased their price target on shares of First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $315.00 price target on shares of First Solar in a research report on Wednesday, July 31st. Finally, Mizuho reaffirmed a “neutral” rating and issued a $274.00 price objective (up from $209.00) on shares of First Solar in a research note on Thursday, May 30th. Five equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, First Solar has an average rating of “Moderate Buy” and an average target price of $275.36.

Insider Activity

In related news, insider Kuntal Kumar Verma sold 1,621 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $260.00, for a total value of $421,460.00. Following the completion of the transaction, the insider now owns 3,549 shares of the company’s stock, valued at $922,740. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the transaction, the insider now owns 3,468 shares in the company, valued at $769,896. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kuntal Kumar Verma sold 1,621 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $260.00, for a total transaction of $421,460.00. Following the sale, the insider now directly owns 3,549 shares of the company’s stock, valued at $922,740. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,506 shares of company stock worth $2,827,217. Corporate insiders own 0.58% of the company’s stock.

First Solar 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.