Integrated Wealth Concepts LLC Raises Holdings in First Solar, Inc. (NASDAQ:FSLR)

Integrated Wealth Concepts LLC lifted its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 14.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,059 shares of the solar cell manufacturer's stock after acquiring an additional 2,589 shares during the period. Integrated Wealth Concepts LLC's holdings in First Solar were worth $3,711,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in shares of First Solar by 31.7% during the 4th 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 in the last quarter. Crews Bank & Trust purchased a new position in shares of First Solar during the fourth quarter worth approximately $53,000. Hudson Edge Investment Partners Inc. purchased a new stake in shares of First Solar in the 4th quarter valued at $53,000. CoreFirst Bank & Trust purchased a new position in First Solar in the 4th quarter worth $54,000. Finally, Montag A & Associates Inc. boosted its position in First Solar by 18.8% during the fourth quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer's stock valued at $84,000 after buying an additional 75 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on FSLR. TD Cowen reduced their price target on First Solar from $275.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft set a $265.00 price target on shares of First Solar in a report on Thursday, February 27th. Barclays lowered their price objective on shares of First Solar from $236.00 to $204.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. StockNews.com raised First Solar from a "sell" rating to a "hold" rating in a research report on Thursday, January 2nd. Finally, Roth Mkm reissued a "buy" rating and set a $280.00 target price on shares of First Solar in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $223.87.

First Solar Stock Performance

NASDAQ:FSLR traded up $0.75 during mid-day trading on Thursday, reaching $126.57. The company's stock had a trading volume of 4,489,458 shares, compared to its average volume of 2,856,378. The firm's fifty day moving average price is $131.89 and its two-hundred day moving average price is $167.45. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The stock has a market cap of $13.57 billion, a P/E ratio of 10.90, a PEG ratio of 0.19 and a beta of 1.48. 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 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 return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $844.57 million during the quarter, compared to analysts' expectations of $863.11 million. During the same quarter last year, the company earned $2.20 earnings per share. The company's revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Activity

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $136.60, for a total value of $1,021,085.00. Following the completion of the transaction, the insider now owns 3,549 shares of the company's stock, valued at approximately $484,793.40. This represents a 67.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark R. Widmar sold 21,542 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the sale, the chief executive officer now directly owns 103,403 shares in the company, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock valued at $4,767,158 in the last ninety days. Corporate 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.