Natixis Advisors LLC Makes New $14.11 Million Investment in First Solar, Inc. (NASDAQ:FSLR)

Natixis Advisors LLC bought a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 62,580 shares of the solar cell manufacturer’s stock, valued at approximately $14,109,000. Natixis Advisors LLC owned about 0.06% of First Solar at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Dixon Mitchell Investment Counsel Inc. bought a new stake in First Solar in the first quarter worth about $25,000. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of First Solar in the 4th quarter worth approximately $27,000. Atlas Capital Advisors LLC lifted its stake in First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares during the last quarter. Riverview Trust Co bought a new position in First Solar during the first quarter valued at $32,000. Finally, Summit Securities Group LLC purchased a new stake in First Solar in the second quarter worth $36,000. 92.08% of the stock is currently owned by institutional investors.

First Solar Stock Performance

NASDAQ:FSLR opened at $215.40 on Thursday. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65. The business has a 50 day moving average of $222.22 and a 200 day moving average of $206.62. The company has a market capitalization of $23.06 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 0.38 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm’s revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.85 EPS. On average, sell-side analysts predict that First Solar, Inc. will post 13.58 earnings per share for the current fiscal year.

Insider Activity

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction that occurred 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 of the company’s stock, valued at approximately $769,896. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction dated 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 directly owns 500 shares of the company’s stock, valued at $108,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the company’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 transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,506 shares of company stock valued at $2,827,217. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FSLR shares. Barclays upped their price target on First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Susquehanna increased their target price on shares of First Solar from $258.00 to $285.00 and gave the stock a “positive” rating in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. boosted their price target on shares of First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. The Goldman Sachs Group raised their price objective 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. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $315.00 target price on shares of First Solar in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $275.36.

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.