Congress Park Capital LLC Purchases New Holdings in First Solar, Inc. (NASDAQ:FSLR)

Congress Park Capital LLC purchased a new position in First Solar, Inc. (NASDAQ:FSLR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,550 shares of the solar cell manufacturer's stock, valued at approximately $322,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FSLR. Norges Bank purchased a new stake in shares of First Solar during the 4th quarter valued at about $317,399,000. Demars Financial Group LLC lifted its position in First Solar by 17,404.5% during the fourth quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer's stock valued at $127,379,000 after purchasing an additional 718,631 shares in the last quarter. Mirova US LLC grew its stake in shares of 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 acquiring an additional 585,394 shares during the period. Amundi increased its stake in shares of First Solar by 31.0% in the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock worth $336,871,000 after purchasing an additional 426,797 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in First Solar by 218.6% during the fourth quarter. Royal Bank of Canada now owns 446,799 shares of the solar cell manufacturer's stock valued at $78,744,000 after acquiring an additional 306,581 shares during the period. Institutional investors own 92.08% of the company's stock.

First Solar Stock Down 0.2%

FSLR stock opened at $143.67 on Friday. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $268.12. The company has a market capitalization of $15.41 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 0.29 and a beta of 1.53. The firm's 50-day moving average is $149.87 and its two-hundred day moving average is $157.65. The company has a current ratio of 1.93, a quick ratio of 1.39 and a debt-to-equity ratio of 0.04.

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 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 29.72% and a return on equity of 16.32%. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.20 EPS. On average, analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity at First Solar

In other news, CTO Markus Gloeckler sold 9,557 shares of First Solar stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the completion of the sale, the chief technology officer now owns 8,037 shares in the company, valued at $1,246,136.85. The trade was a 54.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Koralewski sold 2,951 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $158.21, for a total transaction of $466,877.71. Following the completion of the transaction, the insider now directly owns 11,369 shares of the company's stock, valued at approximately $1,798,689.49. This trade represents a 20.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,376 shares of company stock worth $2,227,172 over the last three months. Company insiders own 0.48% of the company's stock.

Wall Street Analyst Weigh In

FSLR has been the topic of a number of research analyst reports. Wells Fargo & Company decreased their target price on First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. 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. Robert W. Baird cut their price target on First Solar from $267.00 to $240.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. UBS Group reiterated a "buy" rating and issued a $255.00 target price on shares of First Solar in a research note on Wednesday, May 14th. Finally, Deutsche Bank Aktiengesellschaft set a $265.00 price target on shares of First Solar in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $229.19.

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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