PFG Investments LLC Decreases Stake in First Solar, Inc. (NASDAQ:FSLR)

PFG Investments LLC lessened its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 39.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,728 shares of the solar cell manufacturer's stock after selling 2,411 shares during the period. PFG Investments LLC's holdings in First Solar were worth $471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in First Solar by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer's stock worth $2,259,697,000 after buying an additional 120,289 shares during the last quarter. Geode Capital Management LLC grew its position in shares of First Solar by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer's stock worth $469,154,000 after acquiring an additional 63,739 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of First Solar by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer's stock valued at $415,899,000 after acquiring an additional 262,482 shares during the period. Invesco Ltd. raised its position in First Solar by 13.9% in the 4th quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer's stock valued at $323,410,000 after purchasing an additional 223,933 shares during the last quarter. Finally, Amundi boosted its stake in First Solar by 31.0% during the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock worth $336,871,000 after purchasing an additional 426,797 shares during the period. Hedge funds and other institutional investors own 92.08% of the company's stock.

Insider Activity at First Solar

In related news, insider Patrick James Buehler sold 1,868 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $149.08, for a total transaction of $278,481.44. Following the sale, the insider now directly owns 5,998 shares in the company, valued at approximately $894,181.84. This trade represents a 23.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $466,877.71. Following the completion of the transaction, the insider now owns 11,369 shares of the company's stock, valued at approximately $1,798,689.49. This represents a 20.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,376 shares of company stock worth $2,227,172. 0.48% of the stock is currently owned by corporate insiders.

First Solar Trading Up 1.0%

Shares of FSLR traded up $1.52 during trading hours on Wednesday, hitting $152.70. The stock had a trading volume of 3,369,691 shares, compared to its average volume of 3,170,145. The company's fifty day simple moving average is $151.00 and its 200 day simple moving average is $156.24. The firm has a market cap of $16.38 billion, a P/E ratio of 12.98, a P/E/G ratio of 0.29 and a beta of 1.53. 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, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results 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). First Solar had a net margin of 29.72% and a return on equity of 16.32%. The business had revenue of $844.57 million during the quarter, compared to analysts' expectations of $863.11 million. During the same quarter in the previous year, the business posted $2.20 EPS. The company's quarterly revenue was up 6.4% on a year-over-year basis. Equities research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wells Fargo & Company dropped 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 note on Wednesday, April 30th. Redburn Atlantic began coverage on shares of First Solar in a research report on Monday, March 3rd. They issued a "neutral" rating on the stock. Bank of America cut their price objective on shares of First Solar from $236.00 to $215.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. dropped their price target on shares of First Solar from $282.00 to $268.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Finally, Susquehanna cut their price target on shares of First Solar from $223.00 to $217.00 and set a "positive" rating for the company in a report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and two have assigned 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 $229.19.

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.