PFG Investments LLC Has $1.28 Million Stock Position in First Solar, Inc. (NASDAQ:FSLR)

PFG Investments LLC grew its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 159.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,602 shares of the solar cell manufacturer's stock after acquiring an additional 4,668 shares during the quarter. PFG Investments LLC's holdings in First Solar were worth $1,283,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of First Solar during the 1st quarter worth approximately $25,000. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of First Solar during the 4th quarter worth approximately $27,000. Baystate Wealth Management LLC bought a new stake in shares of First Solar during the 4th quarter worth approximately $29,000. First Pacific Financial bought a new stake in shares of First Solar during the 3rd quarter worth approximately $27,000. Finally, Estabrook Capital Management bought a new stake in shares of First Solar during the 3rd quarter worth approximately $29,000. Institutional investors and hedge funds own 92.08% of the company's stock.

Insider Activity at First Solar

In related news, insider Georges Antoun sold 16,667 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the sale, the insider now directly owns 42,041 shares of the company's stock, valued at $6,539,477.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO Markus Gloeckler sold 679 shares of the firm's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $160.00, for a total value of $108,640.00. Following the sale, the chief technology officer now directly owns 14,473 shares of the company's stock, valued at $2,315,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Georges Antoun sold 16,667 shares of First Solar stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the sale, the insider now directly owns 42,041 shares in the company, valued at $6,539,477.55. The disclosure for this sale can be found here. Insiders have sold 26,620 shares of company stock valued at $4,269,540 over the last ninety days. 0.58% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

FSLR has been the topic of a number of analyst reports. Janney Montgomery Scott initiated coverage on First Solar in a research note on Friday, April 12th. They set a "buy" rating and a $236.00 price objective on the stock. Roth Mkm restated a "buy" rating and issued a $230.00 price target on shares of First Solar in a research note on Thursday, April 18th. Oppenheimer restated an "outperform" rating and issued a $269.00 price target on shares of First Solar in a research note on Wednesday, April 17th. Wells Fargo & Company upgraded First Solar from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $187.00 to $250.00 in a research note on Friday, April 19th. Finally, Susquehanna restated a "positive" rating and issued a $258.00 price target on shares of First Solar in a research note on Friday, April 5th. Three analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $231.36.

First Solar Price Performance

Shares of FSLR traded up $3.71 during trading hours on Friday, hitting $178.73. 1,339,017 shares of the company were exchanged, compared to its average volume of 1,987,694. The company has a market cap of $19.13 billion, a price-to-earnings ratio of 23.09, a P/E/G ratio of 0.30 and a beta of 1.41. First Solar, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $232.00. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. The firm's fifty day moving average is $163.40 and its 200 day moving average is $157.24.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.06. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.31 billion. First Solar had a return on equity of 13.80% and a net margin of 25.03%. First Solar's quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.07) EPS. On average, equities analysts anticipate that First Solar, Inc. will post 13.55 earnings per share for the current fiscal year.

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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