Strategy Asset Managers LLC Acquires Shares of 4,794 First Solar, Inc. (NASDAQ:FSLR)

Strategy Asset Managers LLC purchased a new position 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 institutional investor purchased 4,794 shares of the solar cell manufacturer's stock, valued at approximately $1,081,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund raised its stake in First Solar by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer's stock valued at $2,068,000 after purchasing an additional 49 shares during the last quarter. Primoris Wealth Advisors LLC acquired a new position in shares of First Solar during the 2nd quarter valued at about $992,000. Private Wealth Strategies L.L.C. purchased a new stake in shares of First Solar in the second quarter valued at about $451,000. Natixis Advisors LLC acquired a new stake in First Solar during the second quarter worth about $14,109,000. Finally, Fielder Capital Group LLC purchased a new position in First Solar during the second quarter worth about $220,000. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Stock Up 1.3 %

Shares of First Solar stock traded up $2.66 on Wednesday, reaching $215.40. 1,155,887 shares of the company were exchanged, compared to its average volume of 2,413,605. The stock's 50 day moving average price is $222.22 and its 200-day moving average price is $206.62. The company has a market cap of $23.06 billion, a P/E ratio of 22.58, a price-to-earnings-growth ratio of 0.38 and a beta of 1.44. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping the consensus estimate of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $939.71 million. During the same quarter in the previous year, the business posted $1.85 EPS. The firm's revenue was up 24.6% on a year-over-year basis. As a group, equities analysts forecast that First Solar, Inc. will post 13.58 EPS for the current year.

Insider Activity at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 1,621 shares of First Solar stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $260.00, for a total transaction of $421,460.00. Following the completion of the sale, the insider now directly owns 3,549 shares of the company's stock, valued at approximately $922,740. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other First Solar news, insider Kuntal Kumar Verma sold 1,621 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $260.00, for a total value of $421,460.00. Following the transaction, the insider now directly owns 3,549 shares in the company, valued at $922,740. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Byron Michael Jeffers sold 1,766 shares of the business'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 sale, 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 have sold 12,506 shares of company stock valued at $2,827,217 over the last quarter. 0.58% of the stock is owned by insiders.

Analysts Set New Price Targets

FSLR has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of First Solar from $215.00 to $280.00 and gave the company a "buy" rating in a research note on Friday, June 28th. The Goldman Sachs Group raised their target price on First Solar from $268.00 to $302.00 and gave the stock a "buy" rating in a research note on Tuesday, June 4th. Robert W. Baird decreased 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. Royal Bank of Canada reissued an "outperform" rating and set a $315.00 price objective on shares of First Solar in a research report on Wednesday, July 31st. Finally, Roth Mkm reaffirmed a "buy" rating and issued a $320.00 target price (up previously from $230.00) on shares of First Solar in a research report on Friday, May 31st. Five equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.