Chesley Taft & Associates LLC Buys 2,109 Shares of First Solar, Inc. (NASDAQ:FSLR)

Chesley Taft & Associates LLC lifted its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 19.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,839 shares of the solar cell manufacturer's stock after acquiring an additional 2,109 shares during the quarter. Chesley Taft & Associates LLC's holdings in First Solar were worth $1,623,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC boosted its stake in First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock worth $47,000 after buying an additional 63 shares in the last quarter. Independent Advisor Alliance boosted its holdings in shares of First Solar by 3.1% in the 4th quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer's stock worth $368,000 after acquiring an additional 63 shares in the last quarter. Huntington National Bank grew its holdings in shares of First Solar by 15.3% during the fourth quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer's stock worth $90,000 after purchasing an additional 68 shares during the last quarter. Evexia Wealth LLC grew its holdings in First Solar by 2.1% during the 4th quarter. Evexia Wealth LLC now owns 3,481 shares of the solar cell manufacturer's stock worth $586,000 after acquiring an additional 70 shares during the last quarter. Finally, Montag A & Associates Inc. increased its holdings in shares of First Solar by 18.8% in the fourth quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer's stock valued at $84,000 after purchasing an additional 75 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

First Solar Price Performance

FSLR stock traded up $2.51 during midday trading on Friday, reaching $166.35. 2,118,211 shares of the stock were exchanged, compared to its average volume of 3,065,453. The company has a fifty day moving average price of $143.96 and a 200 day moving average price of $159.64. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The stock has a market capitalization of $17.84 billion, a PE ratio of 14.33, a P/E/G ratio of 0.19 and a beta of 1.53.

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 for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). The company had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business's revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.20 earnings per share. As a group, analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wells Fargo & Company cut their target price on First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Guggenheim lowered their price target on shares of First Solar from $253.00 to $202.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Bank of America cut their price objective on First Solar from $236.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Redburn Atlantic started coverage on First Solar in a report on Monday, March 3rd. They set a "neutral" rating for the company. Finally, Wolfe Research upgraded shares of First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price objective on the stock in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $227.94.

Insider Activity at First Solar

In other First Solar news, insider Patrick James Buehler sold 1,868 shares of First Solar stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $149.08, for a total transaction of $278,481.44. Following the transaction, the insider now directly owns 5,998 shares of the company's stock, valued at $894,181.84. The trade was a 23.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Koralewski sold 2,951 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $158.21, for a total transaction of $466,877.71. Following the transaction, the insider now owns 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 disclosure for this sale can be found here. Insiders have sold 17,948 shares of company stock worth $2,704,927 in the last quarter. Company 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.