First Solar, Inc. (NASDAQ:FSLR) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 8,992.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 204,943 shares of the solar cell manufacturer's stock after acquiring an additional 202,689 shares during the period. GAMMA Investing LLC owned 0.19% of First Solar worth $25,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FSLR. Janney Montgomery Scott LLC raised its stake in shares of First Solar by 125.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 6,513 shares of the solar cell manufacturer's stock worth $1,148,000 after purchasing an additional 3,618 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in First Solar by 5.1% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,283 shares of the solar cell manufacturer's stock valued at $579,000 after purchasing an additional 158 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its position in First Solar by 11.8% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 8,355 shares of the solar cell manufacturer's stock worth $1,472,000 after purchasing an additional 883 shares during the period. Tempus Wealth Planning LLC purchased a new position in shares of First Solar during the 4th quarter valued at about $280,000. Finally, Paragon Capital Management Inc. acquired a new position in shares of First Solar in the 4th quarter valued at about $1,240,000. Hedge funds and other institutional investors own 92.08% of the company's stock.

First Solar Price Performance

Shares of NASDAQ:FSLR traded up $2.51 during midday trading on Friday, hitting $166.35. The company's stock had a trading volume of 2,118,211 shares, compared to its average volume of 3,067,497. The company has a market cap of $17.84 billion, a P/E ratio of 14.33, a price-to-earnings-growth ratio of 0.19 and a beta of 1.53. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $306.77. The business's 50 day simple moving average is $143.96 and its 200 day simple moving average is $159.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. During the same quarter in the previous year, the company posted $2.20 EPS. The firm's revenue was up 6.4% on a year-over-year basis. On average, analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Jefferies Financial Group reiterated a "hold" rating and set a $157.00 price target (up from $127.00) on shares of First Solar in a research report on Thursday, May 22nd. Guggenheim cut their target price on shares of First Solar from $253.00 to $202.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Roth Mkm reissued a "buy" rating and set a $280.00 price target on shares of First Solar in a report on Wednesday, February 26th. Barclays cut their price objective on shares of First Solar from $236.00 to $204.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Finally, BMO Capital Markets lowered their target price on shares of First Solar from $200.00 to $187.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, First Solar has an average rating of "Moderate Buy" and a consensus price target of $227.94.

Insiders Place Their Bets

In other news, insider Patrick James Buehler sold 1,868 shares of the stock in a transaction that occurred on 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 now owns 5,998 shares of the company's stock, valued at $894,181.84. This represents a 23.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Georges Antoun sold 229 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $30,628.75. Following the sale, the insider now owns 52,836 shares of the company's stock, valued at $7,066,815. This represents a 0.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,948 shares of company stock valued at $2,704,927 in the last three months. 0.48% of the stock is currently owned by insiders.

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.