Hunter Associates Investment Management LLC Invests $272,000 in First Solar, Inc. (NASDAQ:FSLR)

Hunter Associates Investment Management LLC purchased a new position in First Solar, Inc. (NASDAQ:FSLR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,150 shares of the solar cell manufacturer's stock, valued at approximately $272,000.

Other large investors have also bought and sold shares of the company. Garde Capital Inc. acquired a new position in shares of First Solar during the first quarter valued at about $25,000. Banque Transatlantique SA acquired a new position in shares of First Solar during the fourth quarter valued at about $53,000. CoreFirst Bank & Trust acquired a new position in shares of First Solar during the fourth quarter valued at about $54,000. Abound Financial LLC bought a new position in shares of First Solar during the first quarter valued at about $45,000. Finally, Princeton Global Asset Management LLC bought a new position in shares of First Solar during the first quarter valued at about $51,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Price Performance

NASDAQ:FSLR traded down $2.65 during mid-day trading on Friday, hitting $162.44. 2,136,077 shares of the stock traded hands, compared to its average volume of 3,259,446. The business's 50-day moving average price is $160.16 and its 200 day moving average price is $154.29. The company has a market cap of $17.42 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 0.33 and a beta of 1.52. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72. The company has a quick ratio of 1.39, a current ratio of 1.93 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $844.57 million for the quarter, compared to analysts' expectations of $863.11 million. First Solar had a net margin of 29.72% and a return on equity of 16.32%. First Solar's revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.20 EPS. On average, analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other First Solar news, insider Michael Koralewski sold 2,951 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $158.21, for a total value of $466,877.71. Following the completion of the transaction, the insider owned 11,369 shares of the company's stock, valued at $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 available at this hyperlink. Also, 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 transaction, the chief technology officer directly owned 8,037 shares of the company's stock, valued at approximately $1,246,136.85. This represents a 54.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,976 shares of company stock valued at $2,515,172 in the last quarter. Corporate insiders own 0.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FSLR shares. Jefferies Financial Group raised shares of First Solar from a "hold" rating to a "buy" rating and raised their price target for the company from $157.00 to $192.00 in a research report on Wednesday, June 11th. Royal Bank Of Canada raised their price target on shares of First Solar from $188.00 to $200.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. UBS Group reissued a "positive" rating on shares of First Solar in a research report on Tuesday. Susquehanna dropped their price target on shares of First Solar from $223.00 to $217.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Finally, BMO Capital Markets dropped their price target on shares of First Solar from $200.00 to $187.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $228.69.

First Solar Company 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.