Aviso Wealth Management Reduces Holdings in First Solar, Inc. (NASDAQ:FSLR)

Aviso Wealth Management trimmed its stake in First Solar, Inc. (NASDAQ:FSLR) by 21.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,636 shares of the solar cell manufacturer’s stock after selling 732 shares during the period. Aviso Wealth Management’s holdings in First Solar were worth $594,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FSLR. Corient Private Wealth LLC lifted its position in shares of First Solar by 5.5% in the 4th quarter. Corient Private Wealth LLC now owns 11,595 shares of the solar cell manufacturer’s stock worth $1,998,000 after purchasing an additional 602 shares during the period. TD Asset Management Inc lifted its position in First Solar by 8.1% during the 4th quarter. TD Asset Management Inc now owns 35,451 shares of the solar cell manufacturer’s stock valued at $6,107,000 after acquiring an additional 2,668 shares during the period. Focus Financial Network Inc. ADV purchased a new position in First Solar during the 4th quarter valued at about $472,000. Bank of Nova Scotia lifted its position in First Solar by 46.5% during the 4th quarter. Bank of Nova Scotia now owns 40,181 shares of the solar cell manufacturer’s stock valued at $6,923,000 after acquiring an additional 12,750 shares during the period. Finally, California State Teachers Retirement System lifted its position in First Solar by 1.9% during the 4th quarter. California State Teachers Retirement System now owns 165,055 shares of the solar cell manufacturer’s stock valued at $28,436,000 after acquiring an additional 3,006 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Stock Performance

Shares of FSLR stock opened at $255.75 on Friday. The company has a 50 day moving average price of $225.51 and a 200-day moving average price of $216.19. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $306.77. The firm has a market capitalization of $27.38 billion, a PE ratio of 26.81, a P/E/G ratio of 0.42 and a beta of 1.44. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last announced 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 company had revenue of $1.01 billion during 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 firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.85 earnings per share. As a group, equities research analysts expect that First Solar, Inc. will post 13.62 earnings per share for the current year.

Insider Activity at First Solar

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FSLR shares. Clarkson Capital started coverage on shares of First Solar in a research report on Wednesday, August 14th. They set a “buy” rating and a $270.00 price target for the company. Barclays lifted their price target 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. Bank of America raised their price objective on shares of First Solar from $320.00 to $343.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Oppenheimer raised their price objective on shares of First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of First Solar from $215.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Five analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $284.12.

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.