Legato Capital Management LLC Trims Position in First Solar, Inc. (NASDAQ:FSLR)

Legato Capital Management LLC reduced its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 45.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,527 shares of the solar cell manufacturer's stock after selling 6,200 shares during the quarter. Legato Capital Management LLC's holdings in First Solar were worth $1,697,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Cambridge Trust Co. boosted 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 valued at $546,000 after purchasing an additional 50 shares in the last quarter. Great Diamond Partners LLC increased 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 buying an additional 53 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of First Solar by 24.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the solar cell manufacturer's stock valued at $70,000 after acquiring an additional 62 shares during the last quarter. Family Legacy Inc. boosted its stake in shares of First Solar by 1.4% during the 1st quarter. Family Legacy Inc. now owns 4,950 shares of the solar cell manufacturer's stock worth $836,000 after acquiring an additional 69 shares in the last quarter. Finally, Harbor Investment Advisory LLC raised its position in shares of First Solar by 36.0% during the first quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer's stock worth $46,000 after purchasing an additional 72 shares during the period. 92.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FSLR shares. Robert W. Baird dropped their price target on First Solar from $344.00 to $307.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 2nd. Mizuho restated a "neutral" rating and issued a $274.00 price target (up previously from $209.00) on shares of First Solar in a research report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of First Solar from $215.00 to $280.00 and gave the stock a "buy" rating in a research report on Friday, June 28th. Jefferies Financial Group upped their price target on First Solar from $209.50 to $211.00 and gave the company a "buy" rating in a research report on Thursday, May 2nd. Finally, The Goldman Sachs Group upped their price objective on shares of First Solar from $268.00 to $302.00 and gave the company a "buy" rating in a research note on Tuesday, June 4th. Four analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $275.36.

Insider Activity at First Solar

In related news, CFO Alexander R. Bradley sold 16,051 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 30,652 shares in the company, valued at $8,419,797.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other First Solar news, CFO Alexander R. Bradley sold 16,051 shares of the business's stock in a transaction 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 sale, the chief financial officer now owns 30,652 shares of the company's stock, valued at approximately $8,419,797.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the transaction, the chief accounting officer now owns 500 shares of the company's stock, valued at approximately $108,250. The disclosure for this sale can be found here. Insiders sold a total of 37,203 shares of company stock worth $9,598,253 in the last ninety days. 0.58% of the stock is currently owned by insiders.

First Solar Stock Performance

First Solar stock traded up $2.23 on Tuesday, reaching $235.42. 1,299,339 shares of the stock were exchanged, compared to its average volume of 2,443,326. The company has a current ratio of 2.23, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $306.77. The firm has a fifty day moving average price of $227.01 and a two-hundred day moving average price of $203.61. The stock has a market cap of $25.20 billion, a PE ratio of 24.44, a PEG ratio of 0.37 and a beta of 1.44.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings data 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 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 firm's revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.85 EPS. Sell-side analysts anticipate that First Solar, Inc. will post 13.53 EPS for the current year.

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.