Brown Advisory Inc. Sells 498 Shares of First Solar, Inc. (NASDAQ:FSLR)

Brown Advisory Inc. lowered its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 16.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,457 shares of the solar cell manufacturer’s stock after selling 498 shares during the period. Brown Advisory Inc.’s holdings in First Solar were worth $311,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Garde Capital Inc. bought a new position in First Solar in the 1st quarter worth about $25,000. Abound Financial LLC bought a new position in shares of First Solar during the first quarter valued at $45,000. Princeton Global Asset Management LLC bought a new position in shares of First Solar during the first quarter valued at $51,000. Banque Transatlantique SA bought a new position in First Solar in the fourth quarter valued at about $53,000. Finally, CoreFirst Bank & Trust purchased a new stake in First Solar in the fourth quarter worth about $54,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank Of Canada increased their target price on First Solar from $188.00 to $200.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 1st. Susquehanna cut their price target on First Solar from $223.00 to $217.00 and set a “positive” rating on the stock in a report on Monday, April 14th. Mizuho raised their price target on First Solar from $275.00 to $278.00 and gave the stock an “outperform” rating in a report on Monday. BMO Capital Markets decreased their target price on First Solar from $200.00 to $187.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Finally, Guggenheim cut their price objective on First Solar from $253.00 to $202.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $228.87.

First Solar Price Performance

FSLR opened at $171.93 on Wednesday. The stock’s 50-day moving average price is $161.74 and its 200 day moving average price is $153.83. The company has a current ratio of 1.93, a quick ratio of 1.39 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72. The firm has a market cap of $18.44 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 0.32 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). The business had revenue of $844.57 million during the quarter, compared to analysts’ expectations of $863.11 million. First Solar had a net margin of 29.72% and a return on equity of 16.32%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.20 EPS. As a group, sell-side analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Markus Gloeckler sold 9,557 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total value of $1,481,812.85. Following the completion of the transaction, the chief technology officer directly owned 8,037 shares of the company’s stock, valued at $1,246,136.85. This trade represents a 54.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Patrick James Buehler sold 1,600 shares of the firm’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total value of $288,000.00. Following the transaction, the insider directly owned 4,398 shares of the company’s stock, valued at $791,640. The trade was a 26.68% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,976 shares of company stock valued at $2,515,172. 0.48% of the stock is owned by company insiders.

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.