GAMMA Investing LLC Has $383,000 Stake in First Solar, Inc. (NASDAQ:FSLR)

GAMMA Investing LLC boosted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 54.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,698 shares of the solar cell manufacturer’s stock after purchasing an additional 602 shares during the quarter. GAMMA Investing LLC’s holdings in First Solar were worth $383,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cambridge Trust Co. boosted its position in shares of First Solar by 1.6% in the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock valued at $546,000 after acquiring an additional 50 shares during the period. Clean Yield Group raised its stake in First Solar by 35.6% in the first quarter. Clean Yield Group now owns 27,034 shares of the solar cell manufacturer’s stock valued at $4,563,000 after purchasing an additional 7,104 shares in the last quarter. Cetera Advisors LLC raised its stake in First Solar by 100.3% in the first quarter. Cetera Advisors LLC now owns 5,497 shares of the solar cell manufacturer’s stock valued at $928,000 after purchasing an additional 2,753 shares in the last quarter. Cetera Investment Advisers raised its stake in First Solar by 1,400.4% during the first quarter. Cetera Investment Advisers now owns 23,991 shares of the solar cell manufacturer’s stock worth $4,050,000 after acquiring an additional 22,392 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of First Solar in the first quarter valued at approximately $21,815,000. 92.08% of the stock is owned by institutional investors.

First Solar Price Performance

NASDAQ FSLR traded down $6.56 during trading on Monday, hitting $206.49. 2,214,425 shares of the stock traded hands, compared to its average volume of 2,542,219. The company has a market capitalization of $22.10 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 0.37 and a beta of 1.44. The firm has a 50-day simple moving average of $245.07 and a 200-day simple moving average of $195.22. The company has a quick ratio of 1.86, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $306.77.

First Solar (NASDAQ:FSLR) last issued 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 firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. First Solar’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period last year, the company earned $1.85 EPS. As a group, analysts predict that First Solar, Inc. will post 13.53 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FSLR shares. Wells Fargo & Company raised First Solar from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $187.00 to $250.00 in a research report on Friday, April 19th. Deutsche Bank Aktiengesellschaft upped their target price on First Solar from $215.00 to $280.00 and gave the company a “buy” rating in a report on Friday, June 28th. DZ Bank raised First Solar from a “hold” rating to a “buy” rating and set a $280.00 price target on the stock in a research note on Thursday. BMO Capital Markets reduced their price target 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. Finally, Evercore ISI raised First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 target price on the stock in a research note on Tuesday, April 23rd. Four investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $275.58.

Insider Buying and Selling at First Solar

In other news, Director Richard D. Chapman sold 3,165 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 1,045 shares of the company’s stock, valued at approximately $199,051.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Richard D. Chapman sold 3,165 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $190.48, for a total transaction of $602,869.20. Following the transaction, the director now directly owns 1,045 shares in the company, valued at approximately $199,051.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Caroline Stockdale sold 12,406 shares of the business’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 sale, the insider now owns 22,025 shares in the company, valued at approximately $4,515,125. The disclosure for this sale can be found here. Insiders sold a total of 49,153 shares of company stock valued at $12,146,968 in the last ninety days. Corporate insiders own 0.58% of the company’s stock.

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.