Hamilton Wealth LLC Trims Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Hamilton Wealth LLC decreased its position in First Solar, Inc. (NASDAQ:FSLR) by 50.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,878 shares of the solar cell manufacturer’s stock after selling 9,893 shares during the period. Hamilton Wealth LLC’s holdings in First Solar were worth $1,667,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of FSLR. Norges Bank purchased a new stake in shares of First Solar in the 4th quarter worth $298,123,000. Schroder Investment Management Group raised its holdings in shares of First Solar by 16.7% in the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock valued at $422,861,000 after acquiring an additional 351,540 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in First Solar by 11.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after acquiring an additional 279,719 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its position in First Solar by 2,009.8% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 180,681 shares of the solar cell manufacturer’s stock valued at $31,128,000 after purchasing an additional 172,117 shares during the period. Finally, Bull Oak Capital LLC raised its holdings in shares of First Solar by 304,592.2% in the 4th quarter. Bull Oak Capital LLC now owns 155,393 shares of the solar cell manufacturer’s stock valued at $26,771,000 after purchasing an additional 155,342 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

NASDAQ:FSLR traded down $5.46 during midday trading on Friday, hitting $213.05. The company’s stock had a trading volume of 2,782,387 shares, compared to its average volume of 2,710,071. First Solar, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $306.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.86. The firm has a market cap of $22.81 billion, a P/E ratio of 22.33, a P/E/G ratio of 0.37 and a beta of 1.44. The firm’s 50 day moving average is $245.07 and its 200-day moving average is $194.57.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.85 earnings per share. Equities analysts anticipate that First Solar, Inc. will post 13.53 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, insider Caroline Stockdale sold 12,406 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $205.00, for a total value of $2,543,230.00. Following the sale, the insider now owns 22,025 shares in the company, valued at $4,515,125. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Caroline Stockdale sold 12,406 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $205.00, for a total value of $2,543,230.00. Following the completion of the transaction, the insider now directly owns 22,025 shares in the company, valued at approximately $4,515,125. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the sale, the chief financial officer now owns 30,652 shares in the company, valued at approximately $8,419,797.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,153 shares of company stock worth $12,540,428. Insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FSLR shares. Morgan Stanley increased their price objective on shares of First Solar from $248.00 to $331.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. BMO Capital Markets cut their price target on First Solar from $311.00 to $286.00 and set an “outperform” rating on the stock in a report on Wednesday. Janney Montgomery Scott cut First Solar from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 18th. Mizuho reiterated a “neutral” rating and issued a $274.00 target price (up previously from $209.00) on shares of First Solar in a research note on Thursday, May 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $315.00 price target on shares of First Solar in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $275.58.

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.