Altus Wealth Group LLC Sells 234 Shares of First Solar, Inc. (NASDAQ:FSLR)

Altus Wealth Group LLC decreased its position in First Solar, Inc. (NASDAQ:FSLR) by 10.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,930 shares of the solar cell manufacturer’s stock after selling 234 shares during the quarter. Altus Wealth Group LLC’s holdings in First Solar were worth $481,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Western Financial Corp CA bought a new stake in First Solar during the third quarter worth approximately $1,209,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in First Solar by 6.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 259,177 shares of the solar cell manufacturer’s stock worth $43,749,000 after purchasing an additional 15,430 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of First Solar by 20.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 121,055 shares of the solar cell manufacturer’s stock valued at $20,434,000 after acquiring an additional 20,465 shares during the period. Harbour Capital Advisors LLC boosted its position in shares of First Solar by 224.0% in the third quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock valued at $1,301,000 after acquiring an additional 3,607 shares during the period. Finally, Legend Financial Advisors Inc. bought a new stake in shares of First Solar in the first quarter valued at approximately $759,000. Institutional investors own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FSLR shares. Citigroup raised First Solar from a “neutral” rating to a “buy” rating and increased their price objective for the company from $200.00 to $254.00 in a research report on Tuesday. Susquehanna cut their target price on First Solar from $285.00 to $280.00 and set a “positive” rating for the company in a research note on Wednesday, October 16th. Robert W. Baird cut their target price on First Solar from $344.00 to $307.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft upped their target price on First Solar from $215.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, BMO Capital Markets cut their target price on First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus price target of $288.46.

First Solar Stock Down 3.0 %

First Solar stock traded down $5.99 during midday trading on Wednesday, reaching $195.41. The stock had a trading volume of 1,045,635 shares, compared to its average volume of 2,379,374. The firm’s fifty day simple moving average is $225.93 and its 200-day simple moving average is $223.58. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77. The stock has a market capitalization of $20.92 billion, a P/E ratio of 21.11, a price-to-earnings-growth ratio of 0.38 and a beta of 1.44. 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 announced its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $939.71 million. During the same quarter last year, the firm earned $1.85 EPS. First Solar’s revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, analysts expect that First Solar, Inc. will post 13.53 EPS for the current fiscal year.

Insider Transactions at First Solar

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 stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the transaction, the chief accounting officer now directly owns 500 shares in the company, valued at approximately $108,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,885 shares of company stock worth $2,405,757. 0.58% of the stock is owned by company insiders.

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.