Coldstream Capital Management Inc. Has $934,000 Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Coldstream Capital Management Inc. grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 18.0% in the second quarter, Holdings Channel reports. The institutional investor owned 4,142 shares of the solar cell manufacturer’s stock after acquiring an additional 632 shares during the period. Coldstream Capital Management Inc.’s holdings in First Solar were worth $934,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Principal Securities Inc. bought a new position in shares of First Solar during the fourth quarter valued at about $69,000. Versor Investments LP bought a new stake in First Solar in the fourth quarter worth about $279,000. Dimensional Fund Advisors LP raised its position in First Solar by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 785,371 shares of the solar cell manufacturer’s stock worth $135,310,000 after acquiring an additional 6,418 shares during the period. Janney Montgomery Scott LLC raised its position in First Solar by 1,176.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,875 shares of the solar cell manufacturer’s stock worth $2,907,000 after acquiring an additional 15,553 shares during the period. Finally, Nicola Wealth Management LTD. bought a new stake in First Solar in the fourth quarter worth about $2,498,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $239.84 on Thursday. The company has a market cap of $25.67 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 0.35 and a beta of 1.44. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $306.77. The company’s 50 day moving average is $220.84 and its 200 day moving average is $208.92. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The business’s revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the company earned $1.85 EPS. On average, sell-side analysts forecast that First Solar, Inc. will post 13.6 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on FSLR. The Goldman Sachs Group lifted their price objective on shares of First Solar from $268.00 to $302.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Oppenheimer lifted their price objective on shares of First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. William Blair began coverage on shares of First Solar in a research note on Thursday, August 29th. They issued a “market perform” rating for the company. Finally, Robert W. Baird reduced their target price on shares of First Solar from $344.00 to $307.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and an average target price of $277.25.

Insider Activity

In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total value of $382,339.00. Following the transaction, the chief accounting officer now owns 500 shares in the company, valued at approximately $108,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total value of $382,339.00. Following the sale, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at $108,250. The disclosure for this sale can be found here. Insiders have sold 12,506 shares of company stock worth $2,827,217 in the last quarter. Corporate insiders own 0.58% of the company’s stock.

About First Solar

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.