Avidian Wealth Enterprises LLC Has $419,000 Holdings in First Solar, Inc. (NASDAQ:FSLR)

Avidian Wealth Enterprises LLC increased its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 90.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,314 shares of the solar cell manufacturer's stock after buying an additional 1,571 shares during the quarter. Avidian Wealth Enterprises LLC's holdings in First Solar were worth $419,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of FSLR. Oppenheimer & Co. Inc. raised its stake in First Solar by 396.5% during the first quarter. Oppenheimer & Co. Inc. now owns 11,777 shares of the solar cell manufacturer's stock worth $1,489,000 after acquiring an additional 9,405 shares in the last quarter. Oakworth Capital Inc. grew its holdings in shares of First Solar by 24.7% in the 1st quarter. Oakworth Capital Inc. now owns 9,682 shares of the solar cell manufacturer's stock worth $1,224,000 after purchasing an additional 1,916 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of First Solar by 7.1% during the 1st quarter. Asset Management One Co. Ltd. now owns 48,722 shares of the solar cell manufacturer's stock worth $6,160,000 after purchasing an additional 3,226 shares in the last quarter. Ethic Inc. lifted its holdings in First Solar by 34.2% during the 4th quarter. Ethic Inc. now owns 17,807 shares of the solar cell manufacturer's stock valued at $3,138,000 after purchasing an additional 4,542 shares during the last quarter. Finally, Mirova US LLC lifted its holdings in First Solar by 961.0% during the 4th quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer's stock valued at $113,906,000 after purchasing an additional 585,394 shares during the last quarter. Institutional investors own 92.08% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on FSLR. KeyCorp lowered First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price target on the stock. in a research report on Wednesday, April 30th. Jefferies Financial Group upgraded shares of First Solar from a "hold" rating to a "buy" rating and increased their price objective for the company from $157.00 to $192.00 in a report on Wednesday, June 11th. Wells Fargo & Company reduced their target price on First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Piper Sandler lowered their price target on First Solar from $230.00 to $205.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, The Goldman Sachs Group raised their price objective on First Solar from $204.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Two research 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.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $228.69.

First Solar Trading Down 1.6%

NASDAQ FSLR traded down $2.58 on Tuesday, hitting $162.96. The company's stock had a trading volume of 6,571,223 shares, compared to its average volume of 3,213,098. The company's 50-day moving average is $153.47 and its 200 day moving average is $154.72. The company has a quick ratio of 1.39, a current ratio of 1.93 and a debt-to-equity ratio of 0.04. The firm has a market cap of $17.48 billion, a PE ratio of 13.86, a PEG ratio of 0.30 and a beta of 1.53. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $844.57 million for the quarter, compared to the consensus estimate of $863.11 million. First Solar had a return on equity of 16.32% and a net margin of 29.72%. The firm's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 EPS. As a group, analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In related news, insider Patrick James Buehler sold 1,868 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $149.08, for a total transaction of $278,481.44. Following the sale, the insider owned 5,998 shares in the company, valued at $894,181.84. This represents a 23.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Markus Gloeckler sold 9,557 shares of First Solar stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total value of $1,481,812.85. Following the completion of the sale, the chief technology officer owned 8,037 shares of the company's stock, valued at approximately $1,246,136.85. The trade was a 54.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,376 shares of company stock valued at $2,227,172. Corporate insiders own 0.48% of the company's stock.

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.