Virtu Financial LLC Takes Position in First Solar, Inc. (NASDAQ:FSLR)

Virtu Financial LLC acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,806 shares of the solar cell manufacturer’s stock, valued at approximately $1,309,000.

Other large investors have also added to or reduced their stakes in the company. Atlas Capital Advisors LLC boosted its position in shares of First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after acquiring an additional 111 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new stake in First Solar in the 1st quarter worth approximately $25,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in First Solar in the 4th quarter worth approximately $27,000. Summit Securities Group LLC bought a new position in First Solar in the 2nd quarter valued at $36,000. Finally, Riverview Trust Co purchased a new position in shares of First Solar during the 1st quarter valued at $32,000. Institutional investors own 92.08% of the company’s stock.

Insider Buying and Selling

In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the sale, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. Insiders sold a total of 10,885 shares of company stock worth $2,405,757 in the last three months. Insiders own 0.58% of the company’s stock.

First Solar Trading Up 0.8 %

NASDAQ FSLR opened at $241.81 on Thursday. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $306.77. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The stock’s fifty day moving average price is $221.49 and its 200-day moving average price is $211.71. The stock has a market cap of $25.88 billion, a P/E ratio of 25.35, a P/E/G ratio of 0.40 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating the consensus estimate of $2.69 by $0.56. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. First Solar’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.85 EPS. As a group, equities analysts forecast that First Solar, Inc. will post 13.6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FSLR shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $315.00 price objective on shares of First Solar in a research report on Wednesday, July 31st. Morgan Stanley lifted their price target on First Solar from $248.00 to $331.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. Janney Montgomery Scott cut shares of First Solar from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 18th. Barclays lifted their target price on shares of First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $283.46.

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.