Northwestern Mutual Wealth Management Co. Boosts Stake in First Solar, Inc. (NASDAQ:FSLR)

Northwestern Mutual Wealth Management Co. boosted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,537 shares of the solar cell manufacturer’s stock after purchasing an additional 1,267 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in First Solar were worth $11,845,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Atlas Capital Advisors LLC lifted its position in shares of First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 111 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in First Solar during the 1st quarter worth approximately $25,000. University of Texas Texas AM Investment Managment Co. purchased a new position in First Solar during the fourth quarter valued at approximately $27,000. Summit Securities Group LLC bought a new position in shares of First Solar in the second quarter worth approximately $36,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of First Solar in the second quarter worth $38,000. Institutional investors own 92.08% of the company’s stock.

Insider Buying and Selling at First Solar

In related news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at approximately $108,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the transaction, the chief accounting officer now directly owns 500 shares in the company, valued at approximately $108,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the business’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 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 disclosure for this sale can be found here. Insiders sold 10,885 shares of company stock worth $2,405,757 over the last 90 days. Company insiders own 0.58% of the company’s stock.

First Solar Stock Down 3.5 %

Shares of FSLR opened at $240.66 on Wednesday. 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 business has a fifty day moving average of $226.45 and a 200 day moving average of $217.96. The company has a market cap of $25.76 billion, a PE ratio of 25.23, a P/E/G ratio of 0.42 and a beta of 1.44. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $306.77.

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, topping the consensus estimate of $2.69 by $0.56. The firm 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 business’s revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the business earned $1.85 EPS. On average, sell-side analysts expect that First Solar, Inc. will post 13.62 EPS for the current year.

Wall Street Analysts Forecast Growth

FSLR has been the topic of a number of analyst reports. DZ Bank upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price on the stock in a research note on Thursday, August 1st. Robert W. Baird dropped their price objective on First Solar from $344.00 to $307.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. UBS Group lifted their target price on First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley upped their price target on First Solar from $248.00 to $331.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. Finally, The Goldman Sachs Group boosted their target price on shares of First Solar from $268.00 to $302.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Five research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $284.12.

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.