L. Roy Papp & Associates LLP Increases Stake in First Solar, Inc. (NASDAQ:FSLR)

L. Roy Papp & Associates LLP raised its holdings in First Solar, Inc. (NASDAQ:FSLR) by 14.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,605 shares of the solar cell manufacturer’s stock after buying an additional 200 shares during the period. L. Roy Papp & Associates LLP’s holdings in First Solar were worth $400,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV boosted its holdings in First Solar by 14.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock valued at $89,000 after purchasing an additional 45 shares during the period. Davis Investment Partners LLC raised its position in First Solar by 0.6% in the 3rd quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock valued at $1,805,000 after purchasing an additional 46 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of First Solar by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock valued at $2,068,000 after buying an additional 49 shares during the period. Cambridge Trust Co. grew its position in shares of First Solar by 1.6% during the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock worth $546,000 after buying an additional 50 shares in the last quarter. Finally, Gilman Hill Asset Management LLC increased its stake in shares of First Solar by 2.8% during the third quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock worth $455,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on FSLR shares. Piper Sandler boosted their price target on shares of First Solar from $219.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. increased their target price on First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Oppenheimer lifted their price target on First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. UBS Group increased their price objective on First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $315.00 target price on shares of First Solar in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $288.46.

First Solar Stock Performance

Shares of First Solar stock traded up $2.43 during trading hours on Friday, hitting $198.47. 1,876,040 shares of the company were exchanged, compared to its average volume of 2,390,078. 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 business has a 50-day moving average of $224.06 and a 200-day moving average of $223.58. 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 $21.25 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 0.34 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 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. First Solar’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.85 EPS. As a group, analysts expect that First Solar, Inc. will post 13.39 EPS for the current fiscal year.

Insider Activity at First Solar

In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the 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 of the company’s stock, valued at $769,896. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,885 shares of company stock worth $2,405,757 over the last 90 days. Company insiders own 0.58% of the company’s stock.

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.