First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Zhang Financial LLC

Zhang Financial LLC reduced its stake in First Solar, Inc. (NASDAQ:FSLR) by 50.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,500 shares of the solar cell manufacturer’s stock after selling 2,500 shares during the quarter. Zhang Financial LLC’s holdings in First Solar were worth $422,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of First Solar in the 1st quarter valued at about $25,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of First Solar in the 4th quarter worth approximately $27,000. Estabrook Capital Management acquired a new stake in First Solar in the third quarter valued at $29,000. Baystate Wealth Management LLC purchased a new position in First Solar during the 4th quarter valued at about $29,000. Finally, Headinvest LLC acquired a new position in shares of First Solar during the 3rd quarter worth approximately $30,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at First Solar

In related news, insider Caroline Stockdale sold 12,406 shares of First Solar 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 completion of the sale, the insider now directly owns 22,025 shares in the company, valued at $4,515,125. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other First Solar news, insider Georges Antoun sold 16,667 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the transaction, the insider now owns 42,041 shares in the company, valued at $6,539,477.55. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Caroline Stockdale sold 12,406 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 22,025 shares of the company’s stock, valued at $4,515,125. The disclosure for this sale can be found here. Insiders sold a total of 44,191 shares of company stock valued at $7,809,099 over the last quarter. Corporate insiders own 0.58% of the company’s stock.

First Solar Trading Up 18.7 %

FSLR stock opened at $251.75 on Thursday. The business has a fifty day moving average price of $177.74 and a 200 day moving average price of $162.86. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86. First Solar, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $253.99. The stock has a market capitalization of $26.95 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 0.34 and a beta of 1.37.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.30. The business had revenue of $794.10 million during the quarter, compared to analysts’ expectations of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The firm’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 earnings per share. Analysts expect that First Solar, Inc. will post 13.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on FSLR shares. The Goldman Sachs Group increased their target price on First Solar from $265.00 to $268.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Bank of America lifted their price objective on First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Wells Fargo & Company upgraded First Solar from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $187.00 to $250.00 in a research note on Friday, April 19th. Roth Mkm reissued a “buy” rating and set a $230.00 target price on shares of First Solar in a report on Thursday, April 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $195.00 target price on shares of First Solar in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $238.28.

First Solar Company 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.