M. Kulyk & Associates LLC Raises Position in First Solar, Inc. (NASDAQ:FSLR)

M. Kulyk & Associates LLC boosted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 167.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,055 shares of the solar cell manufacturer's stock after acquiring an additional 15,067 shares during the period. M. Kulyk & Associates LLC's holdings in First Solar were worth $3,041,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of FSLR. Garde Capital Inc. purchased a new position in shares of First Solar in the first quarter worth $25,000. Larson Financial Group LLC raised its position in First Solar by 591.9% in the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock worth $32,000 after buying an additional 219 shares during the last quarter. Banque Transatlantique SA purchased a new stake in shares of First Solar during the 4th quarter valued at about $53,000. CoreFirst Bank & Trust bought a new stake in shares of First Solar in the fourth quarter worth approximately $54,000. Finally, Abound Financial LLC bought a new stake in shares of First Solar in the first quarter worth approximately $45,000. Institutional investors own 92.08% of the company's stock.

Analyst Upgrades and Downgrades

FSLR has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Mizuho increased their price target on First Solar from $275.00 to $278.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. BMO Capital Markets lowered their price target on shares of First Solar from $200.00 to $187.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. The Goldman Sachs Group boosted their price objective on First Solar from $204.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Finally, Royal Bank Of Canada raised their price objective on First Solar from $188.00 to $200.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.73.

Insider Transactions at First Solar

In other First Solar news, insider Michael Koralewski sold 2,951 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was 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. This represents a 20.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick James Buehler sold 1,868 shares of the business's stock in a transaction 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 completion of the transaction, the insider directly owned 5,998 shares in the company, valued at $894,181.84. This represents a 23.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,976 shares of company stock worth $2,515,172. Insiders own 0.48% of the company's stock.

First Solar Stock Up 0.9%

Shares of NASDAQ FSLR traded up $1.66 during mid-day trading on Tuesday, hitting $179.99. The company had a trading volume of 1,943,397 shares, compared to its average volume of 3,252,232. The company has a market capitalization of $19.30 billion, a PE ratio of 15.31, a price-to-earnings-growth ratio of 0.35 and a beta of 1.52. The business's 50-day simple moving average is $163.98 and its 200 day simple moving average is $153.50. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $262.72. 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 (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). First Solar had a return on equity of 16.32% and a net margin of 29.72%. The firm had revenue of $844.57 million for the quarter, compared to analyst estimates of $863.11 million. During the same quarter in the previous year, the firm posted $2.20 EPS. The business's revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current 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.