Highland Capital Management LLC Sells 1,720 Shares of First Solar, Inc. (NASDAQ:FSLR)

Highland Capital Management LLC lessened its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 7.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,560 shares of the solar cell manufacturer's stock after selling 1,720 shares during the quarter. Highland Capital Management LLC's holdings in First Solar were worth $4,635,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of FSLR. Cambridge Trust Co. grew its stake in shares of First Solar by 1.6% in the 1st quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer's stock valued at $546,000 after purchasing an additional 50 shares during the period. Great Diamond Partners LLC lifted its holdings in shares of First Solar by 3.8% in the first quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer's stock valued at $247,000 after purchasing an additional 53 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of First Solar by 24.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the solar cell manufacturer's stock worth $70,000 after purchasing an additional 62 shares in the last quarter. Family Legacy Inc. boosted its position in First Solar by 1.4% during the first quarter. Family Legacy Inc. now owns 4,950 shares of the solar cell manufacturer's stock valued at $836,000 after purchasing an additional 69 shares during the last quarter. Finally, Harbor Investment Advisory LLC lifted its stake in First Solar by 36.0% in the first quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer's stock valued at $46,000 after acquiring an additional 72 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Trading Up 5.9 %

First Solar stock traded up $12.81 during trading on Friday, reaching $231.07. The company had a trading volume of 1,274,326 shares, compared to its average volume of 2,450,218. The stock's 50 day moving average price is $227.57 and its two-hundred day moving average price is $202.57. The firm has a market capitalization of $24.73 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 0.37 and a beta of 1.44. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $306.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.23.

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 analysts' consensus estimates of $2.69 by $0.56. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm's revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.85 earnings per share. As a group, equities analysts expect that First Solar, Inc. will post 13.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on FSLR. Mizuho reaffirmed a "neutral" rating and set a $274.00 target price (up previously from $209.00) on shares of First Solar in a report on Thursday, May 30th. Jefferies Financial Group upped their price objective on First Solar from $209.50 to $211.00 and gave the stock a "buy" rating in a research report on Thursday, May 2nd. Morgan Stanley boosted their target price on shares of First Solar from $248.00 to $331.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 4th. Barclays upped their price objective on First Solar from $280.00 to $290.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Finally, Guggenheim cut their target price on First Solar from $359.00 to $356.00 and set a "buy" rating on the stock in a report on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, First Solar presently has an average rating of "Moderate Buy" and a consensus price target of $275.36.

Insider Activity

In other news, insider Michael Koralewski sold 4,646 shares of the firm's stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $272.92, for a total value of $1,267,986.32. Following the sale, the insider now owns 7,766 shares in the company, valued at $2,119,496.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other First Solar news, insider Michael Koralewski sold 4,646 shares of the company's stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $272.92, for a total transaction of $1,267,986.32. Following the transaction, the insider now owns 7,766 shares of the company's stock, valued at approximately $2,119,496.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Alexander R. Bradley sold 16,051 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the completion of the sale, the chief financial officer now owns 30,652 shares in the company, valued at $8,419,797.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,203 shares of company stock worth $9,598,253. 0.58% of the stock is 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.