First Solar, Inc. (NASDAQ:FSLR) Shares Acquired by Westover Capital Advisors LLC

Key Points

• Westover Capital Advisors LLC increased its stake in First Solar, Inc. by 84.8%, owning 9,957 shares valued at approximately $1.26 million as of their latest SEC filing.
• Analysts have mixed opinions on FSLR, with price targets ranging from $202.00 to $278.00, and consensus rating of "Moderate Buy".
• First Solar reported Q1 earnings of $1.95 per share, falling short of estimates, while revenue increased by 6.4% year-over-year totaling $844.57 million.

Westover Capital Advisors LLC raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 84.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,957 shares of the solar cell manufacturer's stock after acquiring an additional 4,570 shares during the period. Westover Capital Advisors LLC's holdings in First Solar were worth $1,259,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Huntington National Bank grew its holdings in 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 acquiring an additional 68 shares during the period. Evexia Wealth LLC increased its stake in First Solar by 2.1% in the 4th quarter. Evexia Wealth LLC now owns 3,481 shares of the solar cell manufacturer's stock valued at $586,000 after buying an additional 70 shares during the period. Westpac Banking Corp raised its holdings in shares of First Solar by 8.9% during the fourth quarter. Westpac Banking Corp now owns 917 shares of the solar cell manufacturer's stock worth $162,000 after acquiring an additional 75 shares in the last quarter. Covestor Ltd lifted its holdings in shares of First Solar by 8.4% during the 4th quarter. Covestor Ltd now owns 993 shares of the solar cell manufacturer's stock valued at $175,000 after buying an additional 77 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in First Solar by 0.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 30,948 shares of the solar cell manufacturer's stock worth $5,454,000 after acquiring an additional 81 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FSLR. BMO Capital Markets cut their price objective on First Solar from $200.00 to $187.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Mizuho raised their price objective on First Solar from $275.00 to $278.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Robert W. Baird lowered their target price on shares of First Solar from $267.00 to $240.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Guggenheim dropped their price objective on First Solar from $253.00 to $202.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Wolfe Research upgraded First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 target price for the company in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $225.73.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $180.72 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.39 and a current ratio of 1.93. The stock has a 50 day moving average price of $163.81 and a 200 day moving average price of $153.74. The stock has a market capitalization of $19.38 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 0.35 and a beta of 1.52. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $262.72.

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

Insider Transactions at First Solar

In other news, CTO Markus Gloeckler sold 9,557 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was 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 owned 8,037 shares in the company, valued at $1,246,136.85. The trade was a 54.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael Koralewski sold 2,951 shares of the 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 transaction, the insider owned 11,369 shares in the company, valued at $1,798,689.49. The trade was a 20.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,976 shares of company stock worth $2,515,172. 0.48% of the stock is owned by 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.

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