Joule Financial LLC Invests $813,000 in First Solar, Inc. (NASDAQ:FSLR)

Joule Financial LLC bought a new stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,604 shares of the solar cell manufacturer's stock, valued at approximately $813,000. First Solar comprises 2.1% of Joule Financial LLC's investment portfolio, making the stock its 14th largest position.

A number of other large investors have also recently made changes to their positions in FSLR. Fifth Third Wealth Advisors LLC acquired a new position in First Solar in the 2nd quarter valued at about $195,000. Fifth Third Bancorp grew its holdings in First Solar by 30.8% during the second quarter. Fifth Third Bancorp now owns 2,724 shares of the solar cell manufacturer's stock worth $614,000 after acquiring an additional 641 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in First Solar in the second quarter valued at $225,000. Nisa Investment Advisors LLC lifted its stake in shares of First Solar by 57.4% in the second quarter. Nisa Investment Advisors LLC now owns 6,294 shares of the solar cell manufacturer's stock valued at $1,419,000 after purchasing an additional 2,295 shares during the period. Finally, Chesley Taft & Associates LLC boosted its holdings in First Solar by 1.7% during the second quarter. Chesley Taft & Associates LLC now owns 9,922 shares of the solar cell manufacturer's stock worth $2,237,000 after buying an additional 168 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Stock Performance

Shares of First Solar stock traded down $4.37 during trading hours on Thursday, reaching $218.26. The company's stock had a trading volume of 940,563 shares, compared to its average volume of 2,457,492. First Solar, Inc. has a one year low of $129.21 and a one year high of $306.77. The company's 50 day simple moving average is $229.89 and its 200 day simple moving average is $201.39. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.23. The stock has a market cap of $23.36 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 0.37 and a beta of 1.44.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The company's revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.85 earnings per share. As a group, analysts expect that First Solar, Inc. will post 13.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FSLR shares. Oppenheimer upped their price target on First Solar from $325.00 to $326.00 and gave the stock an "outperform" rating in a report on Wednesday, July 31st. Barclays raised their price target on First Solar from $280.00 to $290.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. Jefferies Financial Group upped their target price on shares of First Solar from $209.50 to $211.00 and gave the company a "buy" rating in a report on Thursday, May 2nd. BMO Capital Markets lowered their price objective on First Solar from $311.00 to $286.00 and set an "outperform" rating for the company in a research report on Wednesday, July 31st. Finally, Mizuho reaffirmed a "neutral" rating and set a $274.00 price target (up previously from $209.00) on shares of First Solar in a research report on Thursday, May 30th. Four investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $275.36.

Insider Activity at First Solar

In other news, CAO Byron Michael Jeffers sold 500 shares of the business's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Alexander R. Bradley sold 16,051 shares of First Solar stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total value of $4,409,049.19. Following the transaction, the chief financial officer now directly owns 30,652 shares of the company's stock, valued at $8,419,797.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 37,203 shares of company stock worth $9,598,253 over the last ninety days. 0.58% of the stock is currently owned by corporate insiders.

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.

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