Argonautica Private Wealth Management Inc. Makes New $417,000 Investment in First Solar, Inc. (NASDAQ:FSLR)

Argonautica Private Wealth Management Inc. bought a new stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,302 shares of the solar cell manufacturer's stock, valued at approximately $417,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of FSLR. Raymond James Financial Inc. acquired a new position in shares of First Solar during the fourth quarter worth $4,933,000. Thrivent Financial for Lutherans increased its holdings in shares of First Solar by 27.0% in the 4th quarter. Thrivent Financial for Lutherans now owns 5,572 shares of the solar cell manufacturer's stock valued at $982,000 after acquiring an additional 1,185 shares during the last quarter. Sei Investments Co. raised its position in shares of First Solar by 67.6% during the 4th quarter. Sei Investments Co. now owns 27,035 shares of the solar cell manufacturer's stock worth $4,764,000 after acquiring an additional 10,906 shares in the last quarter. LPL Financial LLC lifted its stake in First Solar by 17.9% during the fourth quarter. LPL Financial LLC now owns 53,675 shares of the solar cell manufacturer's stock worth $9,460,000 after purchasing an additional 8,167 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in First Solar by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer's stock valued at $2,259,697,000 after purchasing an additional 120,289 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Michael Koralewski sold 2,951 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total transaction of $466,877.71. Following the sale, the insider owned 11,369 shares in the company, valued at $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 available through this link. Also, insider Patrick James Buehler sold 1,600 shares of the company's stock in a transaction 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 $791,640. The trade was a 26.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,976 shares of company stock valued at $2,515,172. Company insiders own 0.48% of the company's stock.

First Solar Price Performance

First Solar stock traded up $4.60 during mid-day trading on Friday, hitting $185.32. 2,047,103 shares of the company were exchanged, compared to its average volume of 3,608,725. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72. The company has a market capitalization of $19.87 billion, a P/E ratio of 15.76, a PEG ratio of 0.35 and a beta of 1.52. The business's 50 day simple moving average is $163.95 and its two-hundred day simple moving average is $153.65. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.93 and a quick ratio of 1.39.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on FSLR shares. Morgan Stanley set a $223.00 target price on shares of First Solar and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Glj Research upgraded First Solar from a "hold" rating to a "buy" rating and set a $172.37 price target on the stock in a research note on Thursday, May 1st. UBS Group reaffirmed a "positive" rating on shares of First Solar in a report on Tuesday, July 8th. Oppenheimer cut shares of First Solar from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 30th. Finally, Wells Fargo & Company lowered their price target on First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $225.73.

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.