Nisa Investment Advisors LLC Sells 338 Shares of First Solar, Inc. (NASDAQ:FSLR)

Nisa Investment Advisors LLC decreased its position in First Solar, Inc. (NASDAQ:FSLR) by 5.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,956 shares of the solar cell manufacturer’s stock after selling 338 shares during the quarter. Nisa Investment Advisors LLC’s holdings in First Solar were worth $1,486,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. AlphaMark Advisors LLC bought a new position in First Solar in the 3rd quarter worth $25,000. Atlas Capital Advisors LLC increased its stake 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 worth $31,000 after purchasing an additional 111 shares during the period. Summit Securities Group LLC acquired a new position in shares of First Solar during the 2nd quarter worth about $36,000. Itau Unibanco Holding S.A. bought a new stake in First Solar during the 2nd quarter valued at approximately $38,000. Finally, Alta Advisers Ltd acquired a new stake in First Solar in the 2nd quarter valued at approximately $45,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FSLR shares. The Goldman Sachs Group reduced their price objective on First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Royal Bank of Canada decreased their price target on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Roth Mkm dropped their price objective on shares of First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Wells Fargo & Company reduced their target price on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, BMO Capital Markets restated an “outperform” rating and set a $260.00 price target (down from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $281.13.

Insider Activity at First Solar

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were 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 owns 3,468 shares in the company, valued at approximately $769,896. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the company’s 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 transaction was disclosed in a filing with the SEC, which is available at this link. 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 sale, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,885 shares of company stock valued at $2,405,757 over the last ninety days. 0.58% of the stock is owned by insiders.

First Solar Stock Performance

NASDAQ FSLR opened at $204.94 on Monday. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77. The company has a 50 day moving average of $221.68 and a 200-day moving average of $224.28. The company has a current ratio of 2.14, a quick ratio of 1.65 and a debt-to-equity ratio of 0.05. The firm has a market cap of $21.94 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 0.34 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The business had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.50 earnings per share. On average, equities analysts forecast that First Solar, Inc. will post 13.12 earnings per share for the current fiscal year.

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.