Empirical Asset Management LLC Makes New Investment in First Solar, Inc. (NASDAQ:FSLR)

Empirical Asset Management LLC purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,266 shares of the solar cell manufacturer’s stock, valued at approximately $815,000.

Other hedge funds have also recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in First Solar in the 1st quarter worth $25,000. Atlas Capital Advisors LLC increased its holdings in shares of First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after buying an additional 111 shares during the period. Riverview Trust Co bought a new stake in shares of First Solar in the 1st quarter valued at about $32,000. Summit Securities Group LLC purchased a new stake in First Solar during the 2nd quarter valued at about $36,000. Finally, Itau Unibanco Holding S.A. bought a new position in First Solar during the 2nd quarter worth approximately $38,000. 92.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling at First Solar

In other news, CAO Byron Michael Jeffers sold 1,766 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total value of $382,339.00. Following the completion of the transaction, the chief accounting officer now owns 500 shares in the company, valued at $108,250. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Byron Michael Jeffers sold 1,766 shares of First Solar stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the completion of the sale, the chief accounting officer now directly owns 500 shares in the company, valued at $108,250. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Patrick James Buehler sold 8,619 shares of the 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 transaction, the insider now owns 3,468 shares in the company, valued at approximately $769,896. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,885 shares of company stock worth $2,405,757. Insiders own 0.58% of the company’s stock.

First Solar Trading Down 0.7 %

NASDAQ FSLR opened at $209.96 on Tuesday. The stock’s fifty day moving average price is $227.62 and its 200-day moving average price is $222.26. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The stock has a market cap of $22.47 billion, a P/E ratio of 22.01, a P/E/G ratio of 0.38 and a beta of 1.44. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $306.77.

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, beating analysts’ consensus estimates of $2.69 by $0.56. The business had revenue of $1.01 billion during 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%. First Solar’s revenue was up 24.6% compared to the same quarter last year. During the same period last year, the business earned $1.85 EPS. As a group, equities analysts forecast that First Solar, Inc. will post 13.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FSLR has been the subject of a number of analyst reports. UBS Group increased their price objective on First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised their price target on shares of First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Robert W. Baird dropped their target price on shares of First Solar from $344.00 to $307.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. DZ Bank upgraded First Solar from a “hold” rating to a “buy” rating and set a $280.00 price target on the stock in a report on Thursday, August 1st. Finally, Clarkson Capital started coverage on First Solar in a report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $285.44.

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.