Lumbard & Kellner LLC Raises Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Lumbard & Kellner LLC boosted its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 71.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 46,393 shares of the solar cell manufacturer's stock after buying an additional 19,266 shares during the period. First Solar accounts for approximately 2.6% of Lumbard & Kellner LLC's holdings, making the stock its 15th biggest position. Lumbard & Kellner LLC's holdings in First Solar were worth $5,865,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of FSLR. Smartleaf Asset Management LLC increased its stake in First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock worth $47,000 after buying an additional 63 shares in the last quarter. Princeton Global Asset Management LLC purchased a new stake in First Solar in the 1st quarter worth $51,000. Hudson Edge Investment Partners Inc. purchased a new stake in First Solar in the 4th quarter worth $53,000. Banque Transatlantique SA purchased a new stake in First Solar in the 4th quarter worth $53,000. Finally, CoreFirst Bank & Trust purchased a new stake in First Solar in the 4th quarter worth $54,000. Hedge funds and other institutional investors own 92.08% of the company's stock.

Analyst Ratings Changes

FSLR has been the subject of a number of analyst reports. Wolfe Research upgraded First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price target for the company in a research note on Tuesday, May 13th. Glj Research raised shares of First Solar from a "hold" rating to a "buy" rating and set a $172.37 price objective for the company in a report on Thursday, May 1st. Roth Mkm reissued a "buy" rating and set a $280.00 price objective on shares of First Solar in a report on Wednesday, February 26th. UBS Group reissued a "buy" rating and set a $255.00 price objective on shares of First Solar in a report on Wednesday, May 14th. Finally, Deutsche Bank Aktiengesellschaft set a $265.00 price objective on shares of First Solar in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $229.19.

First Solar Stock Performance

Shares of NASDAQ:FSLR opened at $143.67 on Thursday. The firm has a market cap of $15.41 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 0.29 and a beta of 1.53. The firm's 50 day simple moving average is $149.44 and its 200-day simple moving average is $158.09. First Solar, Inc. has a one year low of $116.56 and a one year high of $268.12. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.39 and a current ratio of 1.93.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results 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). The company had revenue of $844.57 million for the quarter, compared to analysts' expectations of $863.11 million. First Solar had a return on equity of 16.32% and a net margin of 29.72%. The business's revenue was up 6.4% compared to the same quarter last year. During the same period last year, the business posted $2.20 earnings per share. As a group, equities analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Transactions at First Solar

In related news, insider Patrick James Buehler sold 1,868 shares of First Solar stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $149.08, for a total transaction of $278,481.44. Following the transaction, the insider now directly owns 5,998 shares of the company's stock, valued at $894,181.84. This trade represents a 23.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael Koralewski sold 2,951 shares of First Solar stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $158.21, for a total transaction of $466,877.71. Following the transaction, the insider now directly owns 11,369 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 14,376 shares of company stock valued at $2,227,172. 0.48% of the stock is currently owned by company 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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