IQ EQ FUND MANAGEMENT IRELAND Ltd Cuts Position in First Solar, Inc. (NASDAQ:FSLR)

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 65.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,554 shares of the solar cell manufacturer's stock after selling 8,810 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in First Solar were worth $1,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in First Solar in the first quarter valued at approximately $25,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of First Solar during the fourth quarter worth $27,000. Riverview Trust Co acquired a new stake in First Solar in the first quarter valued at $32,000. Summit Securities Group LLC acquired a new stake in First Solar in the second quarter valued at $36,000. Finally, Voisard Asset Management Group Inc. acquired a new stake in First Solar in the fourth quarter valued at $46,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity at First Solar

In related news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction dated Tuesday, August 13th. The stock was 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 directly owns 3,468 shares in the company, valued at $769,896. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Patrick James Buehler sold 8,619 shares of the business's stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kuntal Kumar Verma sold 1,621 shares of the business's stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $260.00, for a total value of $421,460.00. Following the transaction, the insider now owns 3,549 shares of the company's stock, valued at $922,740. The disclosure for this sale can be found here. Insiders sold 12,506 shares of company stock valued at $2,827,217 over the last ninety days. 0.58% of the stock is owned by insiders.

First Solar Stock Performance

FSLR stock traded down $5.47 during midday trading on Thursday, hitting $223.10. The stock had a trading volume of 1,185,610 shares, compared to its average volume of 2,427,680. The firm has a market capitalization of $23.88 billion, a price-to-earnings ratio of 23.39, a P/E/G ratio of 0.37 and a beta of 1.44. The stock has a 50-day simple moving average of $225.06 and a 200 day simple moving average of $204.50. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $306.77. 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 (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $939.71 million. During the same period last year, the business earned $1.85 earnings per share. The business's revenue was up 24.6% on a year-over-year basis. As a group, equities research analysts anticipate that First Solar, Inc. will post 13.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of First Solar from $215.00 to $280.00 and gave the stock a "buy" rating in a report on Friday, June 28th. Mizuho restated a "neutral" rating and set a $274.00 price objective (up previously from $209.00) on shares of First Solar in a research report on Thursday, May 30th. Jefferies Financial Group upped their price objective on shares of First Solar from $209.50 to $211.00 and gave the company a "buy" rating in a research note on Thursday, May 2nd. Guggenheim reduced their price target on shares of First Solar from $359.00 to $356.00 and set a "buy" rating for the company in a research report on Thursday, May 2nd. Finally, Susquehanna increased their price objective on First Solar from $258.00 to $285.00 and gave the stock a "positive" rating in a report on Wednesday, July 3rd. Five investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company's stock. According to MarketBeat, First Solar presently has a consensus rating of "Moderate Buy" and an average price target of $275.36.

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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