Quantinno Capital Management LP Buys 6,317 Shares of First Solar, Inc. (NASDAQ:FSLR)

Quantinno Capital Management LP grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 290.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,494 shares of the solar cell manufacturer's stock after purchasing an additional 6,317 shares during the quarter. Quantinno Capital Management LP's holdings in First Solar were worth $1,497,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in shares of First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after buying an additional 63 shares during the period. Crews Bank & Trust purchased a new stake in First Solar in the fourth quarter valued at approximately $53,000. Hudson Edge Investment Partners Inc. purchased a new position in First Solar in the 4th quarter worth approximately $53,000. Banque Transatlantique SA purchased a new stake in shares of First Solar during the 4th quarter valued at $53,000. Finally, CoreFirst Bank & Trust purchased a new position in First Solar in the fourth quarter worth $54,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Stock Performance

Shares of NASDAQ FSLR traded down $0.24 during trading on Wednesday, hitting $155.49. The company had a trading volume of 561,266 shares, compared to its average volume of 3,059,567. The stock has a 50 day simple moving average of $139.07 and a 200 day simple moving average of $161.14. The firm has a market capitalization of $16.67 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 0.19 and a beta of 1.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). The firm had revenue of $844.57 million during the quarter, compared to the consensus estimate of $863.11 million. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.20 earnings per share. As a group, analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Wall Street Analyst Weigh In

FSLR has been the subject of a number of research reports. BMO Capital Markets cut their price objective on shares of First Solar from $200.00 to $187.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Bank of America decreased their target price on First Solar from $236.00 to $215.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Jefferies Financial Group reissued a "hold" rating and set a $157.00 price objective (up previously from $127.00) on shares of First Solar in a research report on Thursday, May 22nd. Susquehanna lowered their price target on shares of First Solar from $223.00 to $217.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft set a $265.00 price target on First Solar in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $227.37.

Insider Buying and Selling

In other First Solar news, CFO Alexander R. Bradley sold 599 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $80,116.25. Following the completion of the transaction, the chief financial officer now directly owns 45,717 shares in the company, valued at $6,114,648.75. This represents a 1.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark R. Widmar sold 1,272 shares of First Solar 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 $169,125.12. Following the sale, the chief executive officer now owns 109,000 shares in the company, valued at approximately $14,492,640. The trade was a 1.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,311 shares of company stock valued at $4,767,158. Company insiders own 0.48% of the company's stock.

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.