L & S Advisors Inc Trims Holdings in First Solar, Inc. (NASDAQ:FSLR)

L & S Advisors Inc reduced its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 6.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 12,543 shares of the solar cell manufacturer’s stock after selling 814 shares during the period. L & S Advisors Inc’s holdings in First Solar were worth $2,828,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in First Solar by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock valued at $2,068,991,000 after acquiring an additional 105,236 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of 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 valued at $472,963,000 after purchasing an additional 279,719 shares during the period. Schroder Investment Management Group raised its stake in shares of First Solar by 16.7% during the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock worth $422,861,000 after purchasing an additional 351,540 shares during the last quarter. Norges Bank purchased a new position in First Solar in the 4th quarter valued at $298,123,000. Finally, Northern Trust Corp increased its stake in First Solar by 1.7% in the 4th quarter. Northern Trust Corp now owns 1,020,527 shares of the solar cell manufacturer’s stock valued at $175,816,000 after buying an additional 16,756 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the sale, the chief accounting officer now owns 500 shares of the company’s stock, valued at $108,250. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,506 shares of company stock valued at $2,827,217. Insiders own 0.58% of the company’s stock.

First Solar Trading Up 2.0 %

Shares of FSLR opened at $233.31 on Tuesday. 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 market capitalization of $24.97 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 0.40 and a beta of 1.44. The stock has a fifty day moving average of $221.19 and a two-hundred day moving average of $211.13. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.56. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.85 earnings per share. As a group, analysts forecast that First Solar, Inc. will post 13.6 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FSLR. Robert W. Baird lowered their target price on shares of First Solar from $344.00 to $307.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Susquehanna increased their target price on First Solar from $258.00 to $285.00 and gave the stock a “positive” rating in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. lifted their price target on First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Clarkson Capital started coverage on First Solar in a research report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price objective for the company. Finally, Bank of America boosted their target price on shares of First Solar from $320.00 to $343.00 and gave the stock a “buy” rating in a research report on Monday. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and a consensus target price of $283.46.

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.