Lighthouse Financial LLC Buys Shares of 2,060 First Solar, Inc. (NASDAQ:FSLR)

Lighthouse Financial LLC purchased a new position in First Solar, Inc. (NASDAQ:FSLR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,060 shares of the solar cell manufacturer's stock, valued at approximately $363,000.

A number of other hedge funds have also modified their holdings of the stock. Smartleaf Asset Management LLC increased its stake in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock worth $47,000 after purchasing an additional 63 shares during the last quarter. Crews Bank & Trust acquired a new position in First Solar during the fourth quarter worth $53,000. Hudson Edge Investment Partners Inc. acquired a new position in First Solar during the fourth quarter worth $53,000. Banque Transatlantique SA acquired a new position in First Solar during the fourth quarter worth $53,000. Finally, CoreFirst Bank & Trust acquired a new position in First Solar during the fourth quarter worth $54,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at First Solar

In other First Solar news, CTO Markus Gloeckler sold 380 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $50,825.00. Following the transaction, the chief technology officer now directly owns 17,594 shares in the company, valued at approximately $2,353,197.50. This represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kuntal Kumar Verma sold 419 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $55,710.24. Following the completion of the transaction, the insider now owns 4,695 shares in the company, valued at $624,247.20. This represents a 8.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,851 shares of company stock worth $2,188,525. Corporate insiders own 0.48% of the company's stock.

Wall Street Analysts Forecast Growth

FSLR has been the topic of a number of analyst reports. Bank of America lowered their price objective on First Solar from $236.00 to $215.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Robert W. Baird lowered their price objective on First Solar from $267.00 to $240.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Guggenheim lowered their price target on First Solar from $253.00 to $202.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Roth Mkm reiterated a "buy" rating and set a $280.00 price target on shares of First Solar in a report on Wednesday, February 26th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $157.00 target price (up from $127.00) on shares of First Solar in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $227.37.

First Solar Price Performance

First Solar stock traded up $3.33 on Friday, reaching $159.28. The company's stock had a trading volume of 5,254,911 shares, compared to its average volume of 3,050,574. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company has a market cap of $17.08 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 0.19 and a beta of 1.46. The business's fifty day moving average price is $140.67 and its 200 day moving average price is $160.30. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $306.77.

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 the consensus estimate of $2.50 by ($0.55). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $844.57 million for the quarter, compared to analyst estimates of $863.11 million. During the same quarter last year, the company earned $2.20 EPS. The firm's quarterly revenue was up 6.4% on a year-over-year basis. Equities analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

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.