Bartlett & CO. Wealth Management LLC Purchases 2,552 Shares of First Solar, Inc. (NASDAQ:FSLR)

Bartlett & CO. Wealth Management LLC increased its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 78.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,815 shares of the solar cell manufacturer's stock after buying an additional 2,552 shares during the period. Bartlett & CO. Wealth Management LLC's holdings in First Solar were worth $735,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in FSLR. SPX Gestao de Recursos Ltda bought a new position in First Solar in the 4th quarter valued at about $2,644,000. IFP Advisors Inc boosted its position in shares of First Solar by 16.2% during the 4th quarter. IFP Advisors Inc now owns 1,376 shares of the solar cell manufacturer's stock worth $244,000 after acquiring an additional 192 shares in the last quarter. Bank of New York Mellon Corp increased its stake in First Solar by 9.9% in the fourth quarter. Bank of New York Mellon Corp now owns 711,688 shares of the solar cell manufacturer's stock valued at $125,428,000 after acquiring an additional 63,820 shares during the last quarter. National Pension Service raised its position in First Solar by 5.1% during the fourth quarter. National Pension Service now owns 195,383 shares of the solar cell manufacturer's stock valued at $34,434,000 after purchasing an additional 9,500 shares in the last quarter. Finally, New York Life Investment Management LLC lifted its stake in First Solar by 1.3% during the fourth quarter. New York Life Investment Management LLC now owns 15,165 shares of the solar cell manufacturer's stock worth $2,673,000 after purchasing an additional 198 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FSLR shares. Bank of America decreased their price target on First Solar from $236.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Royal Bank Of Canada boosted their target price on First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a research note on Tuesday. Jefferies Financial Group raised shares of First Solar from a "hold" rating to a "buy" rating and increased their target price for the stock from $157.00 to $192.00 in a report on Wednesday, June 11th. Oppenheimer lowered shares of First Solar from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 30th. Finally, TD Cowen lowered their price objective on shares of First Solar from $275.00 to $200.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $228.69.

First Solar Trading Down 1.6%

First Solar stock traded down $2.58 during trading hours on Tuesday, reaching $162.96. 6,571,223 shares of the company's stock were exchanged, compared to its average volume of 3,211,591. The firm's 50 day simple moving average is $154.02 and its 200 day simple moving average is $154.78. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $262.72. 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 capitalization of $17.48 billion, a PE ratio of 13.86, a PEG ratio of 0.33 and a beta of 1.52.

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

Insider Transactions at First Solar

In other news, insider Michael Koralewski sold 2,951 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $158.21, for a total transaction of $466,877.71. Following the transaction, the insider owned 11,369 shares of the company's stock, valued at $1,798,689.49. This represents a 20.61% decrease in their position. 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 1,868 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $149.08, for a total value of $278,481.44. Following the completion of the sale, the insider owned 5,998 shares of the company's stock, valued at approximately $894,181.84. This represents a 23.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,376 shares of company stock valued at $2,227,172 in the last quarter. 0.48% of the stock is currently owned by company insiders.

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.