Quadrant Private Wealth Management LLC Purchases 2,244 Shares of First Solar, Inc. (NASDAQ:FSLR)

Quadrant Private Wealth Management LLC grew its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 15.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,216 shares of the solar cell manufacturer's stock after purchasing an additional 2,244 shares during the quarter. Quadrant Private Wealth Management LLC's holdings in First Solar were worth $2,177,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Huntington National Bank lifted its stake in shares of First Solar by 15.3% in the 4th quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer's stock valued at $90,000 after purchasing an additional 68 shares during the period. Evexia Wealth LLC lifted its stake in shares of First Solar by 2.1% in the 4th quarter. Evexia Wealth LLC now owns 3,481 shares of the solar cell manufacturer's stock valued at $586,000 after purchasing an additional 70 shares during the period. Westpac Banking Corp lifted its stake in shares of First Solar by 8.9% in the 4th quarter. Westpac Banking Corp now owns 917 shares of the solar cell manufacturer's stock valued at $162,000 after purchasing an additional 75 shares during the period. Covestor Ltd increased its position in First Solar by 8.4% during the 4th quarter. Covestor Ltd now owns 993 shares of the solar cell manufacturer's stock valued at $175,000 after buying an additional 77 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in First Solar by 0.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 30,948 shares of the solar cell manufacturer's stock valued at $5,454,000 after buying an additional 81 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

Insider Transactions at First Solar

In other news, insider Michael Koralewski sold 2,951 shares of the firm's 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 completion of the sale, the insider owned 11,369 shares in the company, valued at $1,798,689.49. This trade represents a 20.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Markus Gloeckler sold 9,557 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the sale, the chief technology officer owned 8,037 shares of the company's stock, valued at $1,246,136.85. This represents a 54.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,976 shares of company stock valued at $2,515,172 in the last ninety days. 0.48% of the stock is currently owned by corporate insiders.

First Solar Stock Down 0.0%

First Solar stock traded down $0.03 during mid-day trading on Tuesday, reaching $178.30. 770,127 shares of the company were exchanged, compared to its average volume of 3,244,843. The business has a fifty day moving average of $163.98 and a 200 day moving average of $153.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.39 and a current ratio of 1.93. The firm has a market cap of $19.12 billion, a P/E ratio of 15.16, a PEG ratio of 0.34 and a beta of 1.52. 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 issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $863.11 million. During the same quarter in the prior year, the company posted $2.20 EPS. The business's revenue for the quarter was up 6.4% on a year-over-year basis. Research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Susquehanna lifted their target price on First Solar from $186.00 to $203.00 and gave the stock a "positive" rating in a report on Monday. Bank of America cut their price objective on First Solar from $236.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company lowered their target price on First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Glj Research upgraded First Solar from a "hold" rating to a "buy" rating and set a $172.37 target price on the stock in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. lifted their target price on First Solar from $200.00 to $208.00 and gave the company an "overweight" rating in a research report on Tuesday. 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $226.23.

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.

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