Advisors Preferred LLC Raises Holdings in First Solar, Inc. (NASDAQ:FSLR)

Advisors Preferred LLC raised its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 190.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 19,376 shares of the solar cell manufacturer's stock after purchasing an additional 12,714 shares during the period. Advisors Preferred LLC's holdings in First Solar were worth $2,472,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Garde Capital Inc. purchased a new stake in First Solar in the first quarter valued at $25,000. Larson Financial Group LLC raised its position in First Solar by 591.9% in the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock valued at $32,000 after purchasing an additional 219 shares during the period. Abound Financial LLC purchased a new stake in First Solar in the first quarter valued at $45,000. Princeton Global Asset Management LLC purchased a new stake in First Solar in the first quarter valued at $51,000. Finally, Banque Transatlantique SA purchased a new stake in First Solar in the fourth quarter valued at $53,000. Hedge funds and other institutional investors own 92.08% of the company's stock.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $179.99 on Wednesday. The business's fifty day moving average price is $163.98 and its two-hundred day moving average price is $153.50. The stock has a market cap of $19.30 billion, a PE ratio of 15.31, a price-to-earnings-growth ratio of 0.35 and a beta of 1.52. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.39 and a current ratio of 1.93. First Solar, Inc. has a one year low of $116.56 and a one year high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.55). First Solar had a return on equity of 16.32% and a net margin of 29.72%. The business had revenue of $844.57 million for the quarter, compared to analyst estimates of $863.11 million. During the same quarter last year, the business earned $2.20 EPS. First Solar's revenue for the quarter was up 6.4% compared to the same quarter last year. On average, analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Transactions at First Solar

In related news, insider Michael Koralewski sold 2,951 shares of First Solar stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $158.21, for a total value of $466,877.71. Following the completion of the transaction, the insider directly owned 11,369 shares in the company, valued at approximately $1,798,689.49. This trade represents a 20.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Patrick James Buehler sold 1,600 shares of First Solar stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $180.00, for a total value of $288,000.00. Following the completion of the transaction, the insider owned 4,398 shares of the company's stock, valued at approximately $791,640. The trade was a 26.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,976 shares of company stock valued at $2,515,172. 0.48% of the stock is currently owned by insiders.

Analysts Set New Price Targets

FSLR has been the topic of several research analyst reports. TD Cowen cut their price objective on First Solar from $275.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Glj Research upgraded First Solar from a "hold" rating to a "buy" rating and set a $172.37 price objective on the stock in a report on Thursday, May 1st. UBS Group reiterated a "positive" rating on shares of First Solar in a report on Tuesday, July 8th. Wall Street Zen downgraded First Solar from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. upped their price target on First Solar from $200.00 to $208.00 and gave the stock an "overweight" rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, First Solar currently has an average rating of "Moderate Buy" and an average price target of $225.73.

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.

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