Independent Advisor Alliance Sells 167 Shares of First Solar, Inc. (NASDAQ:FSLR)

Independent Advisor Alliance cut its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 9.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,519 shares of the solar cell manufacturer’s stock after selling 167 shares during the period. Independent Advisor Alliance’s holdings in First Solar were worth $262,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of FSLR. Baystate Wealth Management LLC purchased a new position in First Solar during the 4th quarter worth $29,000. Estabrook Capital Management acquired a new position in shares of First Solar in the 3rd quarter valued at about $29,000. Headinvest LLC acquired a new position in shares of First Solar in the 3rd quarter valued at about $30,000. Rakuten Securities Inc. acquired a new position in shares of First Solar in the 4th quarter valued at about $34,000. Finally, USCF Advisers LLC lifted its holdings in shares of First Solar by 100.0% in the 4th quarter. USCF Advisers LLC now owns 200 shares of the solar cell manufacturer’s stock valued at $34,000 after buying an additional 100 shares during the period. 92.08% of the stock is owned by institutional investors.

Insider Buying and Selling

In other First Solar news, insider Caroline Stockdale sold 12,406 shares of First Solar stock in a transaction that occurred on 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 sale, the insider now owns 22,025 shares of the company’s stock, valued at approximately $4,515,125. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other First Solar news, Director Richard D. Chapman sold 3,165 shares of First Solar stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $190.48, for a total value of $602,869.20. Following the sale, the director now owns 1,045 shares of the company’s stock, valued at approximately $199,051.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Caroline Stockdale sold 12,406 shares of First Solar stock in a transaction that occurred on 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 in the company, valued at approximately $4,515,125. The disclosure for this sale can be found here. Insiders have sold a total of 44,191 shares of company stock valued at $7,809,099 over the last quarter. 0.58% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FSLR. Jefferies Financial Group boosted their price objective on First Solar from $209.50 to $211.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Barclays boosted their price objective on First Solar from $227.00 to $228.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. boosted their price objective on First Solar from $237.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $195.00 price target on shares of First Solar in a research report on Wednesday, February 28th. Finally, DZ Bank assumed coverage on First Solar in a research report on Wednesday, April 17th. They issued a “buy” rating and a $205.00 price target for the company. Two research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $238.28.

First Solar Stock Performance

Shares of FSLR stock opened at $251.75 on Thursday. The stock’s 50-day moving average is $177.74 and its two-hundred day moving average is $162.86. The firm has a market cap of $26.95 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 0.28 and a beta of 1.37. First Solar, Inc. has a 1 year low of $129.21 and a 1 year high of $253.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41.

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, topping analysts’ consensus estimates of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The firm had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. During the same quarter last year, the company posted $0.40 earnings per share. The business’s revenue was up 44.8% on a year-over-year basis. Analysts predict that First Solar, Inc. will post 13.56 earnings per share for the current year.

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.