Hanson & Doremus Investment Management Sells 654 Shares of First Solar, Inc. (NASDAQ:FSLR)

Hanson & Doremus Investment Management reduced its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 5.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 11,200 shares of the solar cell manufacturer’s stock after selling 654 shares during the quarter. Hanson & Doremus Investment Management’s holdings in First Solar were worth $2,525,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Atlas Capital Advisors LLC grew 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 worth $31,000 after buying an additional 111 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of First Solar during the 1st quarter worth about $25,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of First Solar during the 4th quarter worth about $27,000. Summit Securities Group LLC acquired a new position in shares of First Solar during the 2nd quarter worth about $36,000. Finally, Riverview Trust Co acquired a new position in shares of First Solar during the 1st quarter worth about $32,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Price Performance

NASDAQ:FSLR opened at $228.79 on Friday. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The firm has a fifty day simple moving average of $221.07 and a 200 day simple moving average of $210.14. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77. The stock has a market capitalization of $24.49 billion, a PE ratio of 23.98, a P/E/G ratio of 0.40 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.56. The company had revenue of $1.01 billion for 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%. First Solar’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.85 EPS. On average, research analysts expect that First Solar, Inc. will post 13.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Roth Mkm restated a “buy” rating and set a $320.00 target price (up from $230.00) on shares of First Solar in a research report on Friday, May 31st. BMO Capital Markets decreased their price objective on First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Clarkson Capital started coverage on First Solar in a research report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price objective for the company. Barclays boosted their price objective on First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Oppenheimer boosted their price objective on First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and an average price target of $277.25.

Insiders Place Their Bets

In other First Solar news, insider Kuntal Kumar Verma sold 1,621 shares of First Solar stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $260.00, for a total transaction of $421,460.00. Following the completion of the transaction, the insider now directly owns 3,549 shares of the company’s stock, valued at $922,740. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Kuntal Kumar Verma sold 1,621 shares of First Solar stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $260.00, for a total transaction of $421,460.00. Following the completion of the sale, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $922,740. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction 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 sale, 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. Insiders have sold a total of 12,506 shares of company stock valued at $2,827,217 over the last 90 days. 0.58% of the stock is currently owned by 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.