1,393 Shares in First Solar, Inc. (NASDAQ:FSLR) Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC purchased a new position in First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, HoldingsChannel reports. The fund purchased 1,393 shares of the solar cell manufacturer’s stock, valued at approximately $240,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Advisory Services Network LLC increased its stake in shares of First Solar by 5.2% in the first quarter. Advisory Services Network LLC now owns 996 shares of the solar cell manufacturer’s stock worth $217,000 after buying an additional 49 shares during the last quarter. Balentine LLC boosted its holdings in First Solar by 2.7% in the second quarter. Balentine LLC now owns 1,970 shares of the solar cell manufacturer’s stock worth $374,000 after purchasing an additional 51 shares during the period. Apollon Wealth Management LLC boosted its holdings in First Solar by 2.0% in the first quarter. Apollon Wealth Management LLC now owns 3,104 shares of the solar cell manufacturer’s stock worth $675,000 after purchasing an additional 60 shares during the period. SVB Wealth LLC boosted its holdings in First Solar by 2.1% in the first quarter. SVB Wealth LLC now owns 3,439 shares of the solar cell manufacturer’s stock worth $748,000 after purchasing an additional 71 shares during the period. Finally, Horizon Investments LLC boosted its holdings in First Solar by 5.0% in the second quarter. Horizon Investments LLC now owns 1,524 shares of the solar cell manufacturer’s stock worth $290,000 after purchasing an additional 72 shares during the period. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

FSLR stock opened at $175.04 on Friday. The company has a market capitalization of $18.74 billion, a P/E ratio of 22.61, a PEG ratio of 0.31 and a beta of 1.41. The company has a 50-day simple moving average of $161.34 and a 200 day simple moving average of $156.18. First Solar, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $232.00. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.06. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. Sell-side analysts predict that First Solar, Inc. will post 13.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FSLR. Roth Mkm reaffirmed a “buy” rating and issued a $230.00 price objective on shares of First Solar in a report on Thursday. Oppenheimer reaffirmed an “outperform” rating and issued a $269.00 price objective on shares of First Solar in a report on Wednesday. Wells Fargo & Company raised shares of First Solar from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $187.00 to $250.00 in a report on Friday. Mizuho lifted their price objective on shares of First Solar from $188.00 to $196.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Finally, Janney Montgomery Scott initiated coverage on shares of First Solar in a report on Friday, April 12th. They set a “buy” rating and a $236.00 price target for the company. Three investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.68.

Insiders Place Their Bets

In other First Solar news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the sale, the insider now directly owns 42,041 shares in the company, valued at $6,539,477.55. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the sale, the insider now directly owns 5,170 shares in the company, valued at $766,917.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the sale, the insider now owns 42,041 shares in the company, valued at approximately $6,539,477.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,620 shares of company stock worth $4,269,540. 0.58% of the stock is owned by corporate insiders.

First Solar Company 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.