Benjamin F. Edwards & Company Inc. Boosts Stake in First Solar, Inc. (NASDAQ:FSLR)

Benjamin F. Edwards & Company Inc. raised its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 22.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 939 shares of the solar cell manufacturer’s stock after purchasing an additional 174 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in First Solar were worth $211,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of First Solar during the 1st quarter valued at $25,000. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of First Solar in the fourth quarter valued at about $27,000. Atlas Capital Advisors LLC boosted 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 acquiring an additional 111 shares during the period. Riverview Trust Co purchased a new stake in shares of First Solar during the first quarter worth about $32,000. Finally, Summit Securities Group LLC bought a new stake in First Solar during the 2nd quarter valued at approximately $36,000. Institutional investors own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Susquehanna boosted their price target on shares of First Solar from $258.00 to $285.00 and gave the stock a “positive” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada restated an “outperform” rating and set a $315.00 price objective on shares of First Solar in a research report on Wednesday, July 31st. BMO Capital Markets cut their price target on First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Finally, Roth Mkm reaffirmed a “buy” rating and set a $320.00 price objective (up from $230.00) on shares of First Solar in a report on Friday, May 31st. Five analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, First Solar currently has an average rating of “Moderate Buy” and an average price target of $284.12.

First Solar Trading Up 5.8 %

NASDAQ FSLR opened at $255.66 on Friday. The stock has a market cap of $27.37 billion, a PE ratio of 26.80, a PEG ratio of 0.42 and a beta of 1.44. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $306.77. The company’s 50-day moving average price is $224.73 and its 200-day moving average price is $215.14. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last issued 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 business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period last year, the company posted $1.85 earnings per share. Equities research analysts forecast that First Solar, Inc. will post 13.62 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the transaction, the chief accounting officer now owns 500 shares in the company, valued at $108,250. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Patrick James Buehler sold 8,619 shares of First Solar 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 transaction, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Byron Michael Jeffers sold 1,766 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now owns 500 shares of the company’s stock, valued at $108,250. The disclosure for this sale can be found here. Insiders sold a total of 10,885 shares of company stock valued at $2,405,757 in the last ninety days. Corporate insiders own 0.58% of the company’s stock.

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.