Hartford Investment Management Co. Sells 118 Shares of First Solar, Inc. (NASDAQ:FSLR)

Hartford Investment Management Co. lessened its holdings in First Solar, Inc. (NASDAQ:FSLR) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,739 shares of the solar cell manufacturer’s stock after selling 118 shares during the quarter. Hartford Investment Management Co.’s holdings in First Solar were worth $1,681,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AlphaMark Advisors LLC bought a new position in First Solar during the 3rd quarter worth approximately $25,000. Atlas Capital Advisors LLC boosted its position in shares of First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after purchasing an additional 111 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of First Solar in the 1st quarter valued at $25,000. Summit Securities Group LLC bought a new stake in shares of First Solar in the 2nd quarter valued at $36,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in First Solar during the 2nd quarter worth $38,000. 92.08% of the stock is owned by institutional investors.

Insider Buying and Selling

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 transaction of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Byron Michael Jeffers sold 1,766 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $108,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 3,468 shares in the company, valued at approximately $769,896. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is owned by insiders.

First Solar Stock Performance

Shares of FSLR stock opened at $196.04 on Friday. The company has a fifty day moving average price of $224.60 and a two-hundred day moving average price of $223.18. First Solar, Inc. has a one year low of $129.21 and a one year high of $306.77. The stock has a market cap of $20.98 billion, a P/E ratio of 20.55, a P/E/G ratio of 0.38 and a beta of 1.44. 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 (NASDAQ:FSLR) last issued its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.56. The business had revenue of $1.01 billion during 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 was up 24.6% on a year-over-year basis. During the same period last year, the business posted $1.85 EPS. As a group, equities analysts predict that First Solar, Inc. will post 13.53 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FSLR. Hsbc Global Res raised First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets dropped their target price on shares of First Solar from $311.00 to $286.00 and set an “outperform” rating on the stock 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 report on Wednesday, July 31st. Barclays raised their price objective on shares of First Solar from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Clarkson Capital started coverage on shares of First Solar in a research note on Wednesday, August 14th. They issued a “buy” rating and a $270.00 target price for the company. Three analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and an average target price of $288.46.

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.