Kayne Anderson Capital Advisors LP Has $4.94 Million Stake in First Solar, Inc. (NASDAQ:FSLR)

Kayne Anderson Capital Advisors LP lessened its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 21.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,080 shares of the solar cell manufacturer's stock after selling 10,522 shares during the period. Kayne Anderson Capital Advisors LP's holdings in First Solar were worth $4,941,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of FSLR. Norges Bank acquired a new position in First Solar during the fourth quarter valued at approximately $317,399,000. Demars Financial Group LLC boosted 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 acquiring an additional 718,631 shares during the last quarter. Royal Bank of Canada boosted its position 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 last quarter. Northern Trust Corp boosted its position in First Solar by 30.7% during the fourth quarter. Northern Trust Corp now owns 1,248,552 shares of the solar cell manufacturer's stock valued at $220,045,000 after acquiring an additional 293,134 shares during the last quarter. Finally, Encompass Capital Advisors LLC boosted its position in First Solar by 445.5% during the fourth quarter. Encompass Capital Advisors LLC now owns 329,718 shares of the solar cell manufacturer's stock valued at $58,110,000 after acquiring an additional 269,273 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Trading Up 1.4%

NASDAQ:FSLR traded up $2.48 during trading hours on Monday, reaching $178.33. 2,296,783 shares of the company were exchanged, compared to its average volume of 3,254,553. The firm has a market cap of $19.12 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 0.34 and a beta of 1.52. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.93 and a quick ratio of 1.39. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $262.72. The stock has a 50 day simple moving average of $163.98 and a 200 day simple moving average of $153.50.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) 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 the consensus estimate of $863.11 million. First Solar had a return on equity of 16.32% and a net margin of 29.72%. The firm's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 EPS. As a group, analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FSLR. The Goldman Sachs Group increased their price objective on shares of First Solar from $204.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. BMO Capital Markets cut their price objective 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. Mizuho increased their price objective on shares of First Solar from $275.00 to $278.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Oppenheimer cut shares of First Solar from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 30th. Finally, Barclays dropped their price target on shares of First Solar from $236.00 to $204.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $228.37.

Insider Buying and Selling at First Solar

In other First Solar news, insider Patrick James Buehler sold 1,600 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $180.00, for a total value of $288,000.00. Following the completion of the sale, the insider directly owned 4,398 shares of the company's stock, valued at approximately $791,640. This represents a 26.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Koralewski sold 2,951 shares of the company's stock in a transaction dated 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 sale, the insider directly owned 11,369 shares of the company's stock, valued at $1,798,689.49. The trade was a 20.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,976 shares of company stock valued at $2,515,172. 0.48% of the stock is 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.