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SFE Investment Counsel Acquires 12,102 Shares of First Solar, Inc. (NASDAQ:FSLR)

First Solar logo with Energy background

SFE Investment Counsel boosted its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 23.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,958 shares of the solar cell manufacturer's stock after acquiring an additional 12,102 shares during the period. First Solar accounts for 1.6% of SFE Investment Counsel's portfolio, making the stock its 17th largest position. SFE Investment Counsel owned 0.06% of First Solar worth $8,086,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Argonautica Private Wealth Management Inc. bought a new position in First Solar in the first quarter valued at about $417,000. Carnegie Investment Counsel bought a new position in First Solar in the first quarter valued at about $402,000. Pinnacle Associates Ltd. boosted its holdings in First Solar by 95.0% in the first quarter. Pinnacle Associates Ltd. now owns 3,114 shares of the solar cell manufacturer's stock valued at $394,000 after acquiring an additional 1,517 shares during the last quarter. Wedbush Securities Inc. boosted its holdings in First Solar by 5.8% in the first quarter. Wedbush Securities Inc. now owns 3,186 shares of the solar cell manufacturer's stock valued at $403,000 after acquiring an additional 176 shares during the last quarter. Finally, Advisors Preferred LLC boosted its holdings in First Solar by 190.8% in the first quarter. Advisors Preferred LLC now owns 19,376 shares of the solar cell manufacturer's stock valued at $2,472,000 after acquiring an additional 12,714 shares during the last quarter. Institutional investors own 92.08% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Susquehanna raised their target price on First Solar from $186.00 to $203.00 and gave the stock a "positive" rating in a report on Monday. BMO Capital Markets reduced their target price on First Solar from $200.00 to $187.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. The Goldman Sachs Group raised their target price on First Solar from $204.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, May 19th. TD Cowen reduced their target price on First Solar from $275.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, Barclays dropped their price target on First Solar from $236.00 to $204.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned 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 stock presently has an average rating of "Moderate Buy" and an average target price of $225.73.

Get Our Latest Analysis on FSLR

Insider Activity

In other news, insider Michael Koralewski sold 2,951 shares of First Solar stock in a transaction 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 directly owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Markus Gloeckler sold 9,557 shares of First Solar stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total value of $1,481,812.85. Following the sale, the chief technology officer directly 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. Over the last three months, insiders sold 15,976 shares of company stock worth $2,515,172. 0.48% of the stock is owned by corporate insiders.

First Solar Stock Up 0.5%

Shares of FSLR stock traded up $0.95 during trading hours on Thursday, reaching $180.72. The company had a trading volume of 2,046,568 shares, compared to its average volume of 3,712,773. First Solar, Inc. has a 12 month low of $116.56 and a 12 month 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. The business has a fifty day simple moving average of $163.81 and a 200-day simple moving average of $153.74. The company has a market cap of $19.38 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 0.35 and a beta of 1.52.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly 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 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 period in the previous year, the business posted $2.20 earnings per share. The business's revenue was up 6.4% compared to the same quarter last year. On average, research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

First Solar Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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