Victory Capital Management Inc. Boosts Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Victory Capital Management Inc. increased its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 7.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,762 shares of the solar cell manufacturer's stock after purchasing an additional 2,519 shares during the period. Victory Capital Management Inc.'s holdings in First Solar were worth $4,901,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in FSLR. Garde Capital Inc. acquired a new position in First Solar during the first quarter worth about $25,000. Larson Financial Group LLC grew its position in First Solar by 591.9% during the first 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 period. Abound Financial LLC acquired a new position in First Solar during the first quarter worth about $45,000. Princeton Global Asset Management LLC acquired a new position in First Solar during the first quarter worth about $51,000. Finally, Banque Transatlantique SA acquired a new position in First Solar during the fourth quarter worth about $53,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FSLR shares. Glj Research upgraded shares of 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. The Goldman Sachs Group upped their target price on shares of First Solar from $204.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. BMO Capital Markets lowered their price target on shares of First Solar from $200.00 to $187.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Bank of America increased their price target on shares of First Solar from $185.00 to $201.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Finally, Guggenheim lowered their price target on shares of First Solar from $253.00 to $202.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, First Solar currently has a consensus rating of "Moderate Buy" and an average target price of $225.73.

Insider Activity at First Solar

In related news, insider Patrick James Buehler sold 1,600 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $180.00, for a total transaction of $288,000.00. Following the completion of the sale, the insider directly owned 4,398 shares of the company's stock, valued at approximately $791,640. This trade represents a 26.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Markus Gloeckler sold 9,557 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the sale, the chief technology officer directly owned 8,037 shares of the company's stock, valued at approximately $1,246,136.85. The trade was a 54.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,976 shares of company stock valued at $2,515,172. Corporate insiders own 0.48% of the company's stock.

First Solar Stock Performance

Shares of FSLR stock opened at $185.32 on Friday. The company's fifty day simple moving average is $163.95 and its 200-day simple moving average is $153.39. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $262.72. The company has a current ratio of 1.93, a quick ratio of 1.39 and a debt-to-equity ratio of 0.04. The company has a market cap of $19.87 billion, a PE ratio of 15.76, a P/E/G ratio of 0.36 and a beta of 1.52.

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 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 period in the prior year, the business posted $2.20 EPS. The business's revenue was up 6.4% on a year-over-year basis. As a group, equities research analysts anticipate that First Solar, Inc. will post 13.05 EPS 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.

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