Kingfisher Capital LLC Has $3.84 Million Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Kingfisher Capital LLC raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,032 shares of the solar cell manufacturer’s stock after buying an additional 187 shares during the quarter. Kingfisher Capital LLC’s holdings in First Solar were worth $3,840,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FSLR. Vanguard Group Inc. raised its stake in First Solar by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock valued at $2,068,991,000 after purchasing an additional 105,236 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of First Solar by 11.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after purchasing an additional 279,719 shares in the last quarter. Schroder Investment Management Group lifted its holdings in First Solar by 16.7% during the 4th quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock valued at $422,861,000 after purchasing an additional 351,540 shares during the last quarter. Northern Trust Corp boosted its position in First Solar by 1.7% in the fourth quarter. Northern Trust Corp now owns 1,020,527 shares of the solar cell manufacturer’s stock valued at $175,816,000 after buying an additional 16,756 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in First Solar by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 795,393 shares of the solar cell manufacturer’s stock worth $179,478,000 after buying an additional 64,265 shares during the last quarter. 92.08% of the stock is owned by institutional investors.

First Solar Trading Down 1.8 %

NASDAQ:FSLR opened at $244.73 on Wednesday. The business has a 50 day moving average price of $223.22 and a two-hundred day moving average price of $214.67. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. The company has a market cap of $26.20 billion, a P/E ratio of 25.65, a price-to-earnings-growth ratio of 0.42 and a beta of 1.44. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $306.77.

First Solar (NASDAQ:FSLR) last issued its quarterly 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 for the quarter, compared to analyst estimates of $939.71 million. During the same period in the previous year, the business earned $1.85 EPS. The company’s revenue was up 24.6% compared to the same quarter last year. As a group, analysts expect that First Solar, Inc. will post 13.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FSLR. Robert W. Baird cut their target price on shares of First Solar from $344.00 to $307.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. William Blair began coverage on First Solar in a research note on Thursday, August 29th. They issued a “market perform” rating on the stock. Oppenheimer increased their target price on First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Piper Sandler lifted their price target on First Solar from $219.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Finally, Roth Mkm reissued a “buy” rating and set a $320.00 price objective (up previously from $230.00) on shares of First Solar in a report on Friday, May 31st. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $283.46.

Insider Activity at First Solar

In related news, 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 transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 completion of the sale, 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 at this link. Also, 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 transaction of $110,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is owned by insiders.

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.