FCG Investment Co Buys New Stake in First Solar, Inc. (NASDAQ:FSLR)

FCG Investment Co acquired a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,344 shares of the solar cell manufacturer’s stock, valued at approximately $1,084,000.

Several other large investors also recently modified their holdings of FSLR. Massmutual Trust Co. FSB ADV grew its stake in First Solar by 14.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock worth $89,000 after buying an additional 45 shares during the last quarter. Davis Investment Partners LLC increased its position in First Solar by 0.6% in the third quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock worth $1,805,000 after purchasing an additional 46 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in First Solar by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock worth $2,068,000 after purchasing an additional 49 shares during the last quarter. Cambridge Trust Co. grew its position in shares of First Solar by 1.6% during the 1st 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 during the period. Finally, Gilman Hill Asset Management LLC raised 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 last quarter. 92.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FSLR has been the subject of a number of analyst reports. Oppenheimer lifted their target price on shares of First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Bank of America dropped their price objective on First Solar from $343.00 to $321.00 and set a “buy” rating for the company in a report on Tuesday, October 8th. BMO Capital Markets lowered their price target on First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $200.00 to $254.00 in a report on Tuesday, October 22nd. Finally, 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 objective for the company. Three research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $288.46.

Insiders Place Their Bets

In other news, insider Patrick James Buehler sold 8,619 shares of First Solar 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 500 shares in the company, valued at $108,250. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the transaction, the insider now owns 3,468 shares in the company, valued at approximately $769,896. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is currently owned by corporate insiders.

First Solar Trading Up 1.3 %

Shares of NASDAQ:FSLR opened at $201.01 on Monday. The stock has a market capitalization of $21.52 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 0.34 and a beta of 1.44. The company’s 50-day moving average price is $224.06 and its two-hundred day moving average price is $223.85. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65. First Solar, Inc. has a one year low of $129.21 and a one year high of $306.77.

First Solar (NASDAQ:FSLR) last issued its quarterly 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. The firm 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 business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.85 earnings per share. On average, equities analysts forecast that First Solar, Inc. will post 13.39 EPS for the current fiscal year.

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.