First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC reduced its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 23.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,263 shares of the solar cell manufacturer's stock after selling 13,558 shares during the period. Foster Victor Wealth Advisors LLC's holdings in First Solar were worth $9,793,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in FSLR. Dixon Mitchell Investment Counsel Inc. purchased a new stake in First Solar during the first quarter valued at approximately $25,000. University of Texas Texas AM Investment Managment Co. bought a new position in First Solar in the fourth quarter worth approximately $27,000. Riverview Trust Co bought a new position in First Solar in the first quarter worth approximately $32,000. Rakuten Securities Inc. bought a new position in First Solar in the fourth quarter worth approximately $34,000. Finally, USCF Advisers LLC grew its stake in First Solar by 100.0% in the fourth quarter. USCF Advisers LLC now owns 200 shares of the solar cell manufacturer's stock worth $34,000 after purchasing an additional 100 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FSLR shares. Deutsche Bank Aktiengesellschaft increased their price objective on First Solar from $215.00 to $280.00 and gave the stock a "buy" rating in a research note on Friday, June 28th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $315.00 target price on shares of First Solar in a research report on Wednesday, July 31st. Piper Sandler increased their target price on First Solar from $219.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, July 22nd. BMO Capital Markets dropped their target price 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. Finally, DZ Bank raised First Solar from a "hold" rating to a "buy" rating and set a $280.00 target price on the stock in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $275.36.

First Solar Price Performance

FSLR stock traded down $4.18 during trading on Friday, hitting $225.40. The stock had a trading volume of 1,479,645 shares, compared to its average volume of 2,488,665. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.86. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $306.77. The stock has a market capitalization of $24.13 billion, a P/E ratio of 23.63, a PEG ratio of 0.37 and a beta of 1.44. The company's 50-day moving average price is $233.97 and its two-hundred day moving average price is $199.75.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.56. The business had revenue of $1.01 billion for 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 revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.85 EPS. As a group, research analysts predict that First Solar, Inc. will post 13.53 EPS for the current fiscal year.

Insider Transactions at First Solar

In other news, insider Caroline Stockdale sold 12,406 shares of the business's stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $205.00, for a total transaction of $2,543,230.00. Following the transaction, the insider now directly owns 22,025 shares in the company, valued at approximately $4,515,125. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Caroline Stockdale sold 12,406 shares of First Solar stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $205.00, for a total transaction of $2,543,230.00. Following the sale, the insider now owns 22,025 shares of the company's stock, valued at approximately $4,515,125. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 56,873 shares of company stock worth $13,949,855 in the last ninety days. 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.