1,020 Shares in First Solar, Inc. (NASDAQ:FSLR) Acquired by Lmcg Investments LLC

Lmcg Investments LLC purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,020 shares of the solar cell manufacturer’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund grew its position 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 last quarter. Cambridge Trust Co. grew its holdings 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 purchasing an additional 50 shares during the last quarter. Great Diamond Partners LLC increased its position in shares of First Solar by 3.8% during the first quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer’s stock worth $247,000 after purchasing an additional 53 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of First Solar by 24.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the solar cell manufacturer’s stock valued at $70,000 after purchasing an additional 62 shares during the last quarter. Finally, Harbor Investment Advisory LLC grew its stake in First Solar by 36.0% during the 1st quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer’s stock worth $46,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Activity

In related news, insider Kuntal Kumar Verma sold 1,621 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 3,549 shares in the company, valued at $922,740. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 $769,896. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kuntal Kumar Verma sold 1,621 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $260.00, for a total value of $421,460.00. Following the sale, the insider now owns 3,549 shares of the company’s stock, valued at $922,740. The disclosure for this sale can be found here. Insiders sold a total of 12,506 shares of company stock valued at $2,827,217 over the last 90 days. Insiders own 0.58% of the company’s stock.

First Solar Trading Up 2.9 %

Shares of First Solar stock opened at $239.98 on Wednesday. First Solar, Inc. has a 1 year low of $129.21 and a 1 year high of $306.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65. The business has a 50 day moving average price of $221.19 and a 200 day moving average price of $211.13. The company has a market capitalization of $25.69 billion, a P/E ratio of 25.16, a P/E/G ratio of 0.40 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.56. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The business’s revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.85 earnings per share. Sell-side analysts anticipate that First Solar, Inc. will post 13.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FSLR has been the subject of several research analyst reports. DZ Bank raised First Solar from a “hold” rating to a “buy” rating and set a $280.00 price objective for the company in a report on Thursday, August 1st. Clarkson Capital initiated coverage on shares of First Solar in a research report on Wednesday, August 14th. They set a “buy” rating and a $270.00 price objective on the stock. BMO Capital Markets dropped their price target on First Solar from $311.00 to $286.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Piper Sandler boosted their target price on First Solar from $219.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Finally, Mizuho reiterated a “neutral” rating and issued a $274.00 price objective (up from $209.00) on shares of First Solar in a research report on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $283.46.

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.