Foster Victor Wealth Advisors LLC Sells 13,558 Shares of First Solar, Inc. (NASDAQ:FSLR)

Foster Victor Wealth Advisors LLC cut its holdings in First Solar, Inc. (NASDAQ:FSLR) by 23.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 44,263 shares of the solar cell manufacturer’s stock after selling 13,558 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in First Solar were worth $9,793,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of FSLR. Stratos Wealth Partners LTD. bought a new position in First Solar in the 4th quarter worth approximately $205,000. Bleakley Financial Group LLC purchased a new stake in First Solar in the 4th quarter worth approximately $213,000. International Assets Investment Management LLC purchased a new stake in First Solar in the 4th quarter worth approximately $26,000,000. Sequoia Financial Advisors LLC purchased a new stake in First Solar in the 4th quarter worth approximately $240,000. Finally, Simplicity Solutions LLC purchased a new stake in First Solar in the 4th quarter worth approximately $212,000. 92.08% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Caroline Stockdale sold 12,406 shares of First Solar stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $205.00, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Alexander R. Bradley sold 16,051 shares of First Solar stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the completion of the transaction, the chief financial officer now directly owns 30,652 shares of the company’s stock, valued at approximately $8,419,797.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Caroline Stockdale sold 12,406 shares of First Solar stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $205.00, for a total transaction of $2,543,230.00. Following the transaction, 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. In the last 90 days, insiders have sold 56,873 shares of company stock valued at $13,949,855. Corporate insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FSLR. Roth Mkm reiterated a “buy” rating and issued a $320.00 target price (up from $230.00) on shares of First Solar in a research note on Friday, May 31st. The Goldman Sachs Group increased their target price on shares of First Solar from $268.00 to $302.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Morgan Stanley raised their price objective on shares of First Solar from $248.00 to $331.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. Evercore ISI upgraded shares of First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research report on Tuesday, April 23rd. Finally, Janney Montgomery Scott cut shares of First Solar from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 18th. Four analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and an average price target of $275.36.

First Solar Trading Down 1.8 %

First Solar stock traded down $4.18 during trading hours on Friday, reaching $225.40. The stock had a trading volume of 1,479,645 shares, compared to its average volume of 2,488,665. The stock has a market cap of $24.13 billion, a PE ratio of 23.63, a PEG ratio of 0.37 and a beta of 1.44. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $306.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.86. The company has a fifty day simple moving average of $233.97 and a 200-day simple moving average of $199.75.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. The business had revenue of $1.01 billion for 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%. The company’s revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.85 EPS. Analysts forecast that First Solar, Inc. will post 13.53 EPS for the current fiscal year.

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.