Primoris Wealth Advisors LLC Acquires New Shares in First Solar, Inc. (NASDAQ:FSLR)

Primoris Wealth Advisors LLC purchased a new stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,400 shares of the solar cell manufacturer's stock, valued at approximately $992,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cambridge Trust Co. lifted its position in First Solar by 1.6% in the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer's stock worth $546,000 after purchasing an additional 50 shares during the period. Great Diamond Partners LLC boosted its stake in First Solar by 3.8% during 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 grew its holdings in First Solar by 24.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the solar cell manufacturer's stock worth $70,000 after acquiring an additional 62 shares during the period. Family Legacy Inc. raised its position in First Solar by 1.4% in the first 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 lifted its holdings in First Solar by 36.0% in the 1st 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 institutional investors.

First Solar Stock Up 1.9 %

Shares of First Solar stock traded up $4.27 during trading on Monday, hitting $227.37. 1,235,300 shares of the stock traded hands, compared to its average volume of 2,420,587. The stock has a market cap of $24.34 billion, a P/E ratio of 23.83, a PEG ratio of 0.38 and a beta of 1.44. The company has a fifty day moving average price of $224.43 and a two-hundred day moving average price of $205.69. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $306.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23.

First Solar (NASDAQ:FSLR - Get Free Report) last posted 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 net margin of 31.98% and a return on equity of 17.73%. The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $939.71 million. During the same period in the previous year, the company earned $1.85 earnings per share. The company's revenue was up 24.6% compared to the same quarter last year. Equities research analysts predict that First Solar, Inc. will post 13.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Oppenheimer lifted their price objective on shares of First Solar from $325.00 to $326.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 31st. The Goldman Sachs Group upped their price target on First Solar from $268.00 to $302.00 and gave the company a "buy" rating in a report on Tuesday, June 4th. William Blair assumed coverage on First Solar in a research note on Thursday. They set a "market perform" rating for the company. Piper Sandler boosted their target price on First Solar from $219.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, July 22nd. Finally, Janney Montgomery Scott lowered First Solar from a "buy" rating to a "neutral" rating in a research report on Tuesday, June 18th. Five analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $275.36.

Insider Activity

In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the business's 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the firm's stock in a transaction dated 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 directly owns 3,468 shares in the company, valued at $769,896. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,506 shares of company stock valued at $2,827,217. Insiders own 0.58% of the company's stock.

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.