First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 1,087.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,500 shares of the solar cell manufacturer’s stock after purchasing an additional 8,700 shares during the period. Wellington Shields Capital Management LLC’s holdings in First Solar were worth $2,142,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Atlas Capital Advisors LLC lifted its position in shares of First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after acquiring an additional 111 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new position in First Solar during the first quarter worth $25,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in First Solar during the fourth quarter worth $27,000. Summit Securities Group LLC acquired a new stake in First Solar in the second quarter valued at $36,000. Finally, Riverview Trust Co acquired a new stake in First Solar in the first quarter valued at $32,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the sale, the insider now directly owns 3,468 shares in the company, valued at $769,896. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the transaction, the insider now directly owns 3,468 shares in the company, valued at $769,896. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,506 shares of company stock valued at $2,827,217. 0.58% of the stock is currently owned by corporate insiders.

First Solar Trading Down 1.3 %

Shares of FSLR traded down $2.76 during mid-day trading on Friday, reaching $212.00. The company had a trading volume of 146,850 shares, compared to its average volume of 2,391,986. First Solar, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $306.77. The firm has a fifty day simple moving average of $221.51 and a 200-day simple moving average of $206.67. The stock has a market cap of $22.69 billion, a price-to-earnings ratio of 22.51, a price-to-earnings-growth ratio of 0.38 and a beta of 1.44. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last posted its quarterly 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. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.85 earnings per share. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FSLR shares. Susquehanna boosted their price objective on shares of First Solar from $258.00 to $285.00 and gave the stock a “positive” rating in a research report on Wednesday, July 3rd. Barclays upped their price target on shares of First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Clarkson Capital initiated coverage on shares of First Solar in a research report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $315.00 price objective on shares of First Solar in a research report on Wednesday, July 31st. Finally, BMO Capital Markets reduced their target price on First Solar from $311.00 to $286.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.36.

First Solar 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.