D L Carlson Investment Group Inc. reduced its stake in shares of First Solar, Inc. (NASDAQ:FSLR – Free Report) by 8.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,220 shares of the solar cell manufacturer’s stock after selling 2,905 shares during the quarter. First Solar comprises approximately 1.5% of D L Carlson Investment Group Inc.’s holdings, making the stock its 22nd largest position. D L Carlson Investment Group Inc.’s holdings in First Solar were worth $6,573,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. bought a new position in First Solar in the 1st quarter worth approximately $25,000. Massmutual Trust Co. FSB ADV grew its stake in shares of First Solar by 172.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 150 shares of the solar cell manufacturer’s stock worth $33,000 after purchasing an additional 95 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of First Solar during the first quarter valued at about $33,000. Spire Wealth Management lifted its holdings in First Solar by 67.9% in the first quarter. Spire Wealth Management now owns 178 shares of the solar cell manufacturer’s stock worth $39,000 after purchasing an additional 72 shares during the period. Finally, Valley National Advisers Inc. bought a new position in First Solar in the 1st quarter valued at about $39,000. 82.08% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
FSLR has been the topic of a number of recent analyst reports. 51job restated a “maintains” rating on shares of First Solar in a research report on Monday, June 26th. Deutsche Bank Aktiengesellschaft raised First Solar from a “hold” rating to a “buy” rating and increased their price target for the company from $220.00 to $235.00 in a research note on Friday, September 8th. Robert W. Baird boosted their price objective on First Solar from $229.00 to $246.00 in a research note on Friday, September 8th. Morgan Stanley raised First Solar from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $180.00 to $206.00 in a research note on Wednesday, September 6th. Finally, StockNews.com began coverage on shares of First Solar in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Nine analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $232.62.
First Solar Stock Up 0.9 %
First Solar stock opened at $180.94 on Wednesday. The firm’s 50 day moving average price is $191.71 and its two-hundred day moving average price is $196.98. The firm has a market cap of $19.33 billion, a PE ratio of 123.93 and a beta of 1.40. First Solar, Inc. has a twelve month low of $115.66 and a twelve month high of $232.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.66 and a current ratio of 3.36.
First Solar (NASDAQ:FSLR – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The solar cell manufacturer reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.90. First Solar had a return on equity of 3.13% and a net margin of 5.23%. The business had revenue of $810.67 million during the quarter, compared to analyst estimates of $720.43 million. On average, research analysts predict that First Solar, Inc. will post 7.92 EPS for the current fiscal year.
Insider Activity at First Solar
In other news, CEO Mark R. Widmar sold 3,982 shares of the stock in a transaction on Monday, July 17th. The shares were sold at an average price of $205.00, for a total transaction of $816,310.00. Following the transaction, the chief executive officer now owns 86,181 shares in the company, valued at approximately $17,667,105. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Mark R. Widmar sold 2,160 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $223.41, for a total value of $482,565.60. Following the completion of the sale, the chief executive officer now directly owns 81,861 shares in the company, valued at approximately $18,288,566.01. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark R. Widmar sold 3,982 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $205.00, for a total value of $816,310.00. Following the transaction, the chief executive officer now owns 86,181 shares in the company, valued at approximately $17,667,105. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,452 shares of company stock valued at $6,833,334. 0.58% of the stock is currently owned by corporate insiders.
About First Solar
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.
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