SFE Investment Counsel Sells 5,831 Shares of First Solar, Inc. (NASDAQ:FSLR)

SFE Investment Counsel lessened its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 10.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,397 shares of the solar cell manufacturer's stock after selling 5,831 shares during the quarter. First Solar accounts for 2.5% of SFE Investment Counsel's investment portfolio, making the stock its 11th largest position. SFE Investment Counsel's holdings in First Solar were worth $11,137,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in First Solar by 0.9% in the first quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer's stock valued at $2,068,991,000 after acquiring an additional 105,236 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in First Solar by 11.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer's stock valued at $472,963,000 after acquiring an additional 279,719 shares during the last quarter. Schroder Investment Management Group boosted its stake in First Solar by 16.7% in the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer's stock valued at $422,861,000 after acquiring an additional 351,540 shares during the last quarter. Norges Bank purchased a new position in First Solar in the fourth quarter valued at about $298,123,000. Finally, Northern Trust Corp boosted its stake in First Solar by 1.7% in the fourth quarter. Northern Trust Corp now owns 1,020,527 shares of the solar cell manufacturer's stock valued at $175,816,000 after acquiring an additional 16,756 shares during the last quarter. Institutional investors own 92.08% of the company's stock.

Insider Activity at First Solar

In related news, insider Kuntal Kumar Verma sold 1,621 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $260.00, for a total transaction of $421,460.00. Following the transaction, the insider now owns 3,549 shares of the company's stock, valued at approximately $922,740. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other First Solar news, insider Kuntal Kumar Verma sold 1,621 shares of the stock in a transaction on Thursday, June 20th. The shares were 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 owns 3,549 shares of the company's stock, valued at approximately $922,740. The sale was disclosed in a 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 sale, the chief accounting officer now directly owns 500 shares of the company's stock, valued at approximately $108,250. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,506 shares of company stock valued at $2,827,217. Insiders own 0.58% of the company's stock.

First Solar Price Performance

Shares of NASDAQ:FSLR traded down $6.11 during trading on Friday, reaching $208.65. The company had a trading volume of 1,318,807 shares, compared to its average volume of 2,399,494. The company has a fifty day moving average of $221.18 and a two-hundred day moving average of $207.41. The stock has a market capitalization of $22.33 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 0.38 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 current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping analysts' consensus estimates of $2.69 by $0.56. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The business's revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.85 EPS. Equities research analysts forecast that First Solar, Inc. will post 13.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of research analyst reports. Clarkson Capital initiated coverage on shares of First Solar in a research note on Wednesday, August 14th. They issued a "buy" rating and a $270.00 target price on the stock. William Blair initiated coverage on shares of First Solar in a research note on Thursday, August 29th. They set a "market perform" rating on the stock. Deutsche Bank Aktiengesellschaft upped 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. Royal Bank of Canada restated an "outperform" rating and set a $315.00 price target on shares of First Solar in a research note on Wednesday, July 31st. Finally, Mizuho restated a "neutral" rating and set a $274.00 price target (up from $209.00) on shares of First Solar in a research note on Thursday, May 30th. Five research 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, First Solar currently has an average rating of "Moderate Buy" and an average target price of $275.36.

First Solar 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.