Harel Insurance Investments & Financial Services Ltd. Sells 3,179 Shares of First Solar, Inc. (NASDAQ:FSLR)

Harel Insurance Investments & Financial Services Ltd. decreased its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 38.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,067 shares of the solar cell manufacturer's stock after selling 3,179 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.'s holdings in First Solar were worth $1,234,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC purchased a new stake in shares of First Solar during the fourth quarter worth approximately $26,000,000. Sequoia Financial Advisors LLC acquired a new stake in shares of First Solar in the fourth quarter valued at about $240,000. Simplicity Solutions LLC purchased a new position in shares of First Solar in the fourth quarter worth about $212,000. Louisiana State Employees Retirement System acquired a new position in First Solar during the fourth quarter worth about $1,120,000. Finally, Daiwa Securities Group Inc. grew its stake in First Solar by 134.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 36,144 shares of the solar cell manufacturer's stock valued at $6,227,000 after acquiring an additional 20,710 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on FSLR shares. JPMorgan Chase & Co. boosted their target price on First Solar from $262.00 to $282.00 and gave the stock an "overweight" rating in a report on Tuesday, July 16th. Janney Montgomery Scott cut First Solar from a "buy" rating to a "neutral" rating in a report on Tuesday, June 18th. Barclays lifted their price target on First Solar from $280.00 to $290.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Mizuho reissued a "neutral" rating and issued a $274.00 price objective (up previously from $209.00) on shares of First Solar in a report on Thursday, May 30th. Finally, Roth Mkm reiterated a "buy" rating and issued a $320.00 target price (up from $230.00) on shares of First Solar in a report on Friday, May 31st. Four equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $275.36.

Insider Transactions at First Solar

In related news, CAO Byron Michael Jeffers sold 1,766 shares of the firm's stock in a transaction that occurred 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 sale, the chief accounting officer now owns 500 shares of the company's stock, valued at $108,250. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total value of $382,339.00. Following the transaction, the chief accounting officer now owns 500 shares of the company's stock, valued at $108,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 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. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,467 shares of company stock valued at $11,406,625. 0.58% of the stock is currently owned by corporate insiders.

First Solar Stock Down 3.6 %

FSLR stock traded down $8.18 during midday trading on Tuesday, hitting $220.20. The company's stock had a trading volume of 1,805,483 shares, compared to its average volume of 2,476,808. The firm has a 50-day simple moving average of $231.45 and a 200-day simple moving average of $201.24. The firm has a market capitalization of $23.57 billion, a P/E ratio of 23.08, a PEG ratio of 0.37 and a beta of 1.44. 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, Inc. has a 52-week low of $129.21 and a 52-week high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.69 by $0.56. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $939.71 million. During the same period last year, the business posted $1.85 earnings per share. First Solar's revenue was up 24.6% compared to the same quarter last year. As a group, equities analysts forecast that First Solar, Inc. will post 13.53 EPS for the current year.

About First Solar

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.