Carnegie Investment Counsel Invests $402,000 in First Solar, Inc. (NASDAQ:FSLR)

Key Points

• Carnegie Investment Counsel invested approximately $402,000 in First Solar, acquiring 3,171 shares of the company in the first quarter.
• Insider sales included Michael Koralewski and Patrick James Buehler, who sold significant shares, resulting in a 20.61% and 26.68% decrease in their positions, respectively.
• First Solar's stock recently increased by 2.5%, with current market conditions showing a debt-to-equity ratio of 0.04 and a market cap of $19.87 billion.

Carnegie Investment Counsel acquired a new position in First Solar, Inc. (NASDAQ:FSLR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,171 shares of the solar cell manufacturer's stock, valued at approximately $402,000.

Several other large investors also recently made changes to their positions in the business. Garde Capital Inc. acquired a new position in shares of First Solar during the first quarter worth $25,000. Larson Financial Group LLC lifted its position in shares of First Solar by 591.9% during the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock worth $32,000 after purchasing an additional 219 shares in the last quarter. Banque Transatlantique SA purchased a new stake in First Solar during the 4th quarter worth approximately $53,000. Abound Financial LLC purchased a new stake in First Solar during the 1st quarter worth approximately $45,000. Finally, Princeton Global Asset Management LLC purchased a new stake in First Solar during the 1st quarter worth approximately $51,000. Institutional investors and hedge funds own 92.08% of the company's stock.

Insider Transactions at First Solar

In other news, insider Michael Koralewski sold 2,951 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total value of $466,877.71. Following the sale, the insider owned 11,369 shares of the company's stock, valued at approximately $1,798,689.49. The trade was a 20.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Patrick James Buehler sold 1,600 shares of the business's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total value of $288,000.00. Following the completion of the sale, the insider directly owned 4,398 shares in the company, valued at $791,640. This represents a 26.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,976 shares of company stock valued at $2,515,172. Corporate insiders own 0.48% of the company's stock.

First Solar Stock Up 2.5%

FSLR opened at $185.32 on Friday. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $262.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.93 and a quick ratio of 1.39. The stock has a market cap of $19.87 billion, a P/E ratio of 15.76, a P/E/G ratio of 0.36 and a beta of 1.52. The stock's 50 day moving average price is $163.95 and its 200 day moving average price is $153.39.

First Solar (NASDAQ:FSLR - Get Free Report) last posted 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 during the quarter, compared to analyst estimates of $863.11 million. First Solar had a net margin of 29.72% and a return on equity of 16.32%. The firm's revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.20 earnings per share. As a group, research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Wall Street Analyst Weigh In

FSLR has been the subject of a number of recent analyst reports. TD Cowen decreased their price target 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. Bank of America raised their price target on shares of First Solar from $185.00 to $201.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada raised their price target on shares of First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Glj Research raised shares of First Solar from a "hold" rating to a "buy" rating and set a $172.37 price target for the company in a research report on Thursday, May 1st. Finally, Jefferies Financial Group set a $194.00 price target on First Solar and gave the company a "buy" rating in a research report on Tuesday, July 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, First Solar presently has an average 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.

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