2,048 Shares in First Solar, Inc. (NASDAQ:FSLR) Acquired by BSW Wealth Partners

BSW Wealth Partners acquired a new position in First Solar, Inc. (NASDAQ:FSLR) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 2,048 shares of the solar cell manufacturer’s stock, valued at approximately $108,000.

A number of other hedge funds also recently bought and sold shares of FSLR. Park West Asset Management LLC bought a new position in First Solar in the 4th quarter worth approximately $77,966,000. Millennium Management LLC raised its position in First Solar by 523.0% in the 4th quarter. Millennium Management LLC now owns 2,065,760 shares of the solar cell manufacturer’s stock worth $87,702,000 after purchasing an additional 1,734,171 shares during the last quarter. Artisan Partners Limited Partnership raised its position in First Solar by 986.3% in the 1st quarter. Artisan Partners Limited Partnership now owns 1,637,421 shares of the solar cell manufacturer’s stock worth $86,521,000 after purchasing an additional 1,486,686 shares during the last quarter. Norges Bank bought a new position in First Solar in the 4th quarter worth approximately $54,251,000. Finally, Oregon Public Employees Retirement Fund raised its position in First Solar by 3,850.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,267,749 shares of the solar cell manufacturer’s stock worth $30,000 after purchasing an additional 1,235,661 shares during the last quarter. Hedge funds and other institutional investors own 61.95% of the company’s stock.

Shares of First Solar stock opened at $59.88 on Thursday. First Solar, Inc. has a 52 week low of $36.51 and a 52 week high of $65.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.83 and a current ratio of 4.38.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, May 2nd. The solar cell manufacturer reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.52). First Solar had a negative net margin of 0.28% and a negative return on equity of 0.12%. The business had revenue of $532.00 million for the quarter, compared to the consensus estimate of $596.32 million. During the same quarter in the previous year, the firm posted $0.78 EPS. The business’s revenue was down 6.2% on a year-over-year basis. Research analysts expect that First Solar, Inc. will post 2.41 EPS for the current year.

In related news, insider Georges Antoun sold 8,476 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $57.85, for a total value of $490,336.60. Following the completion of the sale, the insider now owns 97,546 shares in the company, valued at approximately $5,643,036.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark R. Widmar sold 33,371 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $60.00, for a total transaction of $2,002,260.00. Following the completion of the sale, the chief executive officer now owns 152,510 shares of the company’s stock, valued at approximately $9,150,600. The disclosure for this sale can be found here. In the last 90 days, insiders sold 117,386 shares of company stock valued at $7,028,591. 0.72% of the stock is owned by corporate insiders.

Several research firms recently weighed in on FSLR. BidaskClub upgraded shares of First Solar from a “hold” rating to a “buy” rating in a research report on Wednesday, June 5th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $72.00 target price (up previously from $70.00) on shares of First Solar in a research report on Monday, May 6th. Argus upped their target price on shares of First Solar to $66.00 and gave the company an “average” rating in a research report on Friday, May 3rd. ValuEngine upgraded shares of First Solar from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Finally, Zacks Investment Research cut shares of First Solar from a “hold” rating to a “sell” rating in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $65.67.

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First Solar Profile

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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