Highland Capital Management LLC Has $4.64 Million Stake in First Solar, Inc. (NASDAQ:FSLR)

Highland Capital Management LLC cut its stake in First Solar, Inc. (NASDAQ:FSLR) by 7.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,560 shares of the solar cell manufacturer’s stock after selling 1,720 shares during the period. Highland Capital Management LLC’s holdings in First Solar were worth $4,635,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in FSLR. Vanguard Group Inc. raised 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 last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in First Solar by 11.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock valued at $472,963,000 after purchasing an additional 279,719 shares during the last quarter. Schroder Investment Management Group grew its stake in First Solar by 16.7% in the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock valued at $422,861,000 after purchasing an additional 351,540 shares in the last quarter. Norges Bank bought a new stake in shares of First Solar during the 4th quarter worth approximately $298,123,000. Finally, Northern Trust Corp boosted its holdings in shares of First Solar by 1.7% in the 4th quarter. Northern Trust Corp now owns 1,020,527 shares of the solar cell manufacturer’s stock valued at $175,816,000 after buying an additional 16,756 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

Insider Transactions at First Solar

In other news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other First Solar news, CFO Alexander R. Bradley sold 16,051 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the sale, the chief financial officer now owns 30,652 shares in the company, valued at approximately $8,419,797.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Patrick James Buehler sold 8,619 shares of the firm’s 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 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 37,203 shares of company stock worth $9,598,253. Company insiders own 0.58% of the company’s stock.

First Solar Stock Performance

NASDAQ:FSLR traded up $12.81 during trading hours on Friday, reaching $231.07. 1,274,326 shares of the company’s stock were exchanged, compared to its average volume of 2,450,218. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77. The firm has a market capitalization of $24.73 billion, a price-to-earnings ratio of 24.22, a P/E/G ratio of 0.37 and a beta of 1.44. The company has a 50-day moving average of $227.57 and a 200 day moving average of $202.57. The company has a quick ratio of 1.86, a current ratio of 2.23 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share 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 analysts’ expectations of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the firm earned $1.85 EPS. Research analysts anticipate that First Solar, Inc. will post 13.53 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on FSLR shares. BMO Capital Markets dropped their price target on shares of First Solar from $311.00 to $286.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Janney Montgomery Scott lowered First Solar from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 18th. Royal Bank of Canada restated an “outperform” rating and set a $315.00 price target on shares of First Solar in a report on Wednesday, July 31st. Clarkson Capital initiated coverage on shares of First Solar in a research report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price target for the company. Finally, Jefferies Financial Group raised their price target on shares of First Solar from $209.50 to $211.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Four 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 company has an average rating of “Moderate Buy” and a consensus price target 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.