First Solar, Inc. (NASDAQ:FSLR) Shares Acquired by Avitas Wealth Management LLC

Avitas Wealth Management LLC grew its stake in First Solar, Inc. (NASDAQ:FSLR) by 36.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,595 shares of the solar cell manufacturer’s stock after buying an additional 2,563 shares during the period. Avitas Wealth Management LLC’s holdings in First Solar were worth $557,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of FSLR. Janney Montgomery Scott LLC raised its position in First Solar by 2.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 6,520 shares of the solar cell manufacturer’s stock valued at $428,000 after purchasing an additional 155 shares during the last quarter. Garner Asset Management Corp raised its position in First Solar by 3.5% in the 2nd quarter. Garner Asset Management Corp now owns 5,895 shares of the solar cell manufacturer’s stock valued at $387,000 after purchasing an additional 200 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in First Solar by 1.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 13,960 shares of the solar cell manufacturer’s stock valued at $917,000 after purchasing an additional 200 shares during the last quarter. Deane Retirement Strategies Inc. raised its position in First Solar by 0.7% in the 2nd quarter. Deane Retirement Strategies Inc. now owns 37,031 shares of the solar cell manufacturer’s stock valued at $2,432,000 after purchasing an additional 242 shares during the last quarter. Finally, Rathbone Brothers plc raised its position in First Solar by 6.2% in the 2nd quarter. Rathbone Brothers plc now owns 4,743 shares of the solar cell manufacturer’s stock valued at $312,000 after purchasing an additional 278 shares during the last quarter. Institutional investors and hedge funds own 62.24% of the company’s stock.

FSLR has been the subject of several research reports. Robert W. Baird reiterated a “buy” rating on shares of First Solar in a research report on Monday, September 9th. ValuEngine downgraded shares of First Solar from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. set a $82.00 price target on shares of First Solar and gave the company a “buy” rating in a research report on Tuesday, October 15th. Barclays reiterated a “buy” rating on shares of First Solar in a research report on Friday, August 2nd. Finally, BidaskClub upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $70.11.

In related news, insider Georges Antoun sold 8,476 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $65.73, for a total value of $557,127.48. Following the sale, the insider now directly owns 82,070 shares of the company’s stock, valued at approximately $5,394,461.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 34,964 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $61.43, for a total transaction of $2,147,838.52. Following the completion of the sale, the chief executive officer now directly owns 145,285 shares in the company, valued at $8,924,857.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,665 shares of company stock valued at $4,068,284. 0.72% of the stock is owned by insiders.

Shares of First Solar stock opened at $55.22 on Monday. The company has a market cap of $5.82 billion, a P/E ratio of 40.60, a PEG ratio of 1.00 and a beta of 1.26. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.05. First Solar, Inc. has a one year low of $36.51 and a one year high of $69.24. The firm has a fifty day moving average of $60.92 and a two-hundred day moving average of $61.63.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, August 1st. The solar cell manufacturer reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.20). The firm had revenue of $585.00 million for the quarter, compared to analysts’ expectations of $656.80 million. First Solar had a return on equity of 0.46% and a net margin of 0.95%. The firm’s quarterly revenue was up 89.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.46) EPS. As a group, equities analysts predict that First Solar, Inc. will post 2.37 earnings per share for the current year.

About First Solar

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.

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Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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