Private Advisor Group LLC Makes New Investment in First Solar, Inc. (NASDAQ:FSLR)

Private Advisor Group LLC acquired a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,697 shares of the solar cell manufacturer’s stock, valued at approximately $834,000.

A number of other large investors also recently modified their holdings of FSLR. Atlas Capital Advisors LLC grew its position in First Solar by 411.1% during 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 last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in First Solar in the 1st quarter worth $25,000. University of Texas Texas AM Investment Managment Co. bought a new stake in First Solar in the fourth quarter worth $27,000. Summit Securities Group LLC purchased a new stake in First Solar during the second quarter valued at about $36,000. Finally, Riverview Trust Co bought a new position in shares of First Solar during the first quarter valued at about $32,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at First Solar

In other news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction dated 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 owns 3,468 shares of the company’s stock, valued at approximately $769,896. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction that occurred 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 owns 3,468 shares of the company’s stock, valued at $769,896. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were 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. Over the last three months, insiders have sold 12,506 shares of company stock valued at $2,827,217. Insiders own 0.58% of the company’s stock.

First Solar Trading Up 2.0 %

Shares of NASDAQ FSLR opened at $233.31 on Tuesday. The stock has a market cap of $24.97 billion, a P/E ratio of 24.46, a price-to-earnings-growth ratio of 0.40 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, Inc. has a 1 year low of $129.21 and a 1 year high of $306.77. The firm has a 50-day moving average of $221.19 and a 200 day moving average of $211.13.

First Solar (NASDAQ:FSLR) last released 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. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $939.71 million. During the same period last year, the business earned $1.85 earnings per share. The business’s revenue was up 24.6% on a year-over-year basis. As a group, sell-side analysts expect that First Solar, Inc. will post 13.6 EPS for the current fiscal year.

Analyst Ratings Changes

FSLR has been the subject of several analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $315.00 target price on shares of First Solar in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their price objective on First Solar from $215.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, June 28th. The Goldman Sachs Group lifted their target price on shares of First Solar from $268.00 to $302.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Mizuho reissued a “neutral” rating and issued a $274.00 price target (up previously from $209.00) on shares of First Solar in a report on Thursday, May 30th. Finally, BMO Capital Markets lowered their price objective on shares of First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $283.46.

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.