Guild Investment Management Inc. Makes New Investment in First Solar, Inc. (NASDAQ:FSLR)

Guild Investment Management Inc. purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,880 shares of the solar cell manufacturer’s stock, valued at approximately $1,467,000. First Solar accounts for approximately 1.6% of Guild Investment Management Inc.’s holdings, making the stock its 22nd largest holding.

Several other institutional investors also recently added to or reduced their stakes in FSLR. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of First Solar by 6.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 259,177 shares of the solar cell manufacturer’s stock valued at $43,749,000 after purchasing an additional 15,430 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of First Solar by 20.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 121,055 shares of the solar cell manufacturer’s stock valued at $20,434,000 after purchasing an additional 20,465 shares during the period. Legend Financial Advisors Inc. acquired a new position in shares of First Solar in the first quarter valued at approximately $759,000. Burford Brothers Inc. acquired a new position in shares of First Solar in the fourth quarter valued at approximately $3,539,000. Finally, Vanguard Group Inc. increased its holdings in shares of First Solar by 0.9% in the first quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock valued at $2,068,991,000 after purchasing an additional 105,236 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

FSLR has been the topic of a number of analyst reports. Robert W. Baird decreased their price target on First Solar from $344.00 to $307.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Janney Montgomery Scott lowered First Solar from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft upped their price target on First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Susquehanna increased their price target on First Solar from $258.00 to $285.00 and gave the company a “positive” rating in a report on Wednesday, July 3rd. Finally, Hsbc Global Res raised First Solar to a “strong-buy” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and an average price target of $285.44.

First Solar Stock Performance

FSLR traded up $7.67 during trading hours on Friday, hitting $212.71. The company’s stock had a trading volume of 1,306,142 shares, compared to its average volume of 2,372,777. First Solar, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $306.77. 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 market capitalization of $22.77 billion, a PE ratio of 18.31, a PEG ratio of 0.38 and a beta of 1.44. The company has a 50-day simple moving average of $227.59 and a 200 day simple moving average of $220.72.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating the consensus estimate of $2.69 by $0.56. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $939.71 million. During the same period last year, the firm earned $1.85 EPS. The firm’s revenue was up 24.6% compared to the same quarter last year. As a group, sell-side analysts expect that First Solar, Inc. will post 13.53 EPS for the current year.

Insider Activity at First Solar

In other news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares in the company, valued at approximately $769,896. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the completion of the sale, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at $108,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the sale, the insider now directly owns 3,468 shares of the company’s stock, valued at $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,885 shares of company stock worth $2,405,757 in the last three months. 0.58% of the stock is owned by company insiders.

About First Solar

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.