Welch Group LLC Acquires New Shares in First Solar, Inc. (NASDAQ:FSLR)

Welch Group LLC bought a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 889 shares of the solar cell manufacturer’s stock, valued at approximately $222,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of First Solar during the 1st quarter worth $25,000. AlphaMark Advisors LLC purchased a new position in First Solar during the third quarter worth about $25,000. Atlas Capital Advisors LLC increased its position in shares of First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after acquiring an additional 111 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of First Solar in the 2nd quarter valued at approximately $36,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of First Solar in the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insider Activity

In related 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 value of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares in the company, valued at $769,896. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the business’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 completion of the transaction, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is currently owned by company insiders.

First Solar Stock Performance

FSLR traded up $4.68 on Monday, reaching $203.15. The company had a trading volume of 648,489 shares, compared to its average volume of 2,378,802. The stock has a 50-day moving average price of $224.06 and a 200-day moving average price of $223.85. The stock has a market capitalization of $21.75 billion, a PE ratio of 20.80, a P/E/G ratio of 0.34 and a beta of 1.44. First Solar, Inc. has a 1 year low of $129.21 and a 1 year high of $306.77. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.56. The business had revenue of $1.01 billion during 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 quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.85 EPS. As a group, research analysts forecast that First Solar, Inc. will post 13.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FSLR shares. UBS Group lifted their target price on shares of First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price objective on First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Bank of America decreased their target price on First Solar from $343.00 to $321.00 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. Clarkson Capital initiated coverage on shares of First Solar in a research note on Wednesday, August 14th. They set a “buy” rating and a $270.00 target price on the stock. Finally, BMO Capital Markets reduced their target price on shares of First Solar from $311.00 to $286.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and an average target price of $288.46.

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.