Western Financial Corp CA Acquires Shares of 4,847 First Solar, Inc. (NASDAQ:FSLR)

Western Financial Corp CA bought a new stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,847 shares of the solar cell manufacturer's stock, valued at approximately $1,209,000.

Several other large investors have also bought and sold shares of FSLR. Ballentine Partners LLC boosted its stake in First Solar by 5.9% during the first quarter. Ballentine Partners LLC now owns 1,945 shares of the solar cell manufacturer's stock valued at $328,000 after buying an additional 109 shares in the last quarter. Harbor Investment Advisory LLC lifted its holdings 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 valued at $46,000 after purchasing an additional 72 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of First Solar during the first quarter valued at $32,000. Gilman Hill Asset Management LLC lifted its holdings in shares of First Solar by 5.4% during the first quarter. Gilman Hill Asset Management LLC now owns 1,950 shares of the solar cell manufacturer's stock valued at $329,000 after purchasing an additional 100 shares during the last quarter. Finally, Beech Hill Advisors Inc. lifted its holdings in shares of First Solar by 20.6% during the first quarter. Beech Hill Advisors Inc. now owns 27,201 shares of the solar cell manufacturer's stock valued at $4,592,000 after purchasing an additional 4,654 shares during the last quarter. Institutional investors own 92.08% of the company's stock.

First Solar Stock Down 2.1 %

Shares of NASDAQ FSLR traded down $4.30 during mid-day trading on Monday, reaching $196.25. 2,561,111 shares of the company traded hands, compared to its average volume of 2,377,692. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. The stock has a market cap of $21.01 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 0.38 and a beta of 1.44. The company's fifty day moving average is $226.97 and its two-hundred day moving average is $223.22. First Solar, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last released 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. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company's revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.85 EPS. On average, analysts expect that First Solar, Inc. will post 13.53 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now owns 3,468 shares of the company's stock, valued at $769,896. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Patrick James Buehler sold 8,619 shares of the firm's stock in a transaction that occurred on 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 owns 3,468 shares of the company's stock, valued at $769,896. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,885 shares of company stock valued at $2,405,757 in the last 90 days. 0.58% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on FSLR shares. Bank of America reduced their target price on First Solar from $343.00 to $321.00 and set a "buy" rating for the company in a report on Tuesday, October 8th. Susquehanna reduced their price objective on First Solar from $285.00 to $280.00 and set a "positive" rating for the company in a research note on Wednesday, October 16th. BMO Capital Markets reduced their price objective on First Solar from $311.00 to $286.00 and set an "outperform" rating for the company in a research note on Wednesday, July 31st. DZ Bank raised First Solar from a "hold" rating to a "buy" rating and set a $280.00 price objective for the company in a research note on Thursday, August 1st. Finally, Jefferies Financial Group reduced their price objective on First Solar from $271.00 to $266.00 and set a "buy" rating for the company in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $289.96.

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.