Blair William & Co. IL Increases Stake in First Solar, Inc. (NASDAQ:FSLR)

Blair William & Co. IL grew its stake in First Solar, Inc. (NASDAQ:FSLR) by 26.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,626 shares of the solar cell manufacturer’s stock after buying an additional 1,172 shares during the quarter. Blair William & Co. IL’s holdings in First Solar were worth $1,268,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in FSLR. Vanguard Personalized Indexing Management LLC raised its position in shares of First Solar by 22.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,135 shares of the solar cell manufacturer’s stock worth $2,266,000 after acquiring an additional 1,857 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of First Solar by 1.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 9,152 shares of the solar cell manufacturer’s stock worth $2,063,000 after acquiring an additional 141 shares in the last quarter. Lingotto Investment Management LLP acquired a new stake in shares of First Solar during the 2nd quarter worth about $5,343,000. E Fund Management Co. Ltd. acquired a new stake in shares of First Solar during the 2nd quarter worth about $278,000. Finally, Axxcess Wealth Management LLC acquired a new stake in shares of First Solar during the 2nd quarter worth about $429,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insiders Place Their Bets

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 stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now directly owns 3,468 shares in the company, valued at $769,896. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Byron Michael Jeffers sold 500 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the business’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 transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at $769,896. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,885 shares of company stock worth $2,405,757. 0.58% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. BMO Capital Markets cut their price target on First Solar from $311.00 to $286.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. DZ Bank raised First Solar from a “hold” rating to a “buy” rating and set a $280.00 price target on the stock in a research report on Thursday, August 1st. UBS Group lifted their price target on First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Piper Sandler lifted their price target on First Solar from $219.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price target on First Solar from $262.00 to $282.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, First Solar has an average rating of “Moderate Buy” and a consensus price target of $283.46.

First Solar Stock Down 1.8 %

First Solar stock opened at $244.73 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77. The company has a market cap of $26.20 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 0.40 and a beta of 1.44. The stock’s 50 day moving average price is $223.22 and its 200 day moving average price is $214.67.

First Solar (NASDAQ:FSLR) last posted its earnings results 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 company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. First Solar’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.85 earnings per share. On average, sell-side analysts predict that First Solar, Inc. will post 13.6 EPS for the current fiscal year.

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.