Bay Colony Advisory Group Inc d b a Bay Colony Advisors Lowers Stake in First Solar, Inc. (NASDAQ:FSLR)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors decreased its position in First Solar, Inc. (NASDAQ:FSLR) by 43.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,315 shares of the solar cell manufacturer’s stock after selling 1,030 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in First Solar were worth $296,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in First Solar during the 4th quarter worth about $26,000,000. Louisiana State Employees Retirement System acquired a new stake in shares of First Solar during the fourth quarter worth about $1,120,000. CWM LLC boosted its stake in shares of First Solar by 16.1% in the fourth quarter. CWM LLC now owns 3,171 shares of the solar cell manufacturer’s stock valued at $546,000 after purchasing an additional 439 shares during the period. Handelsbanken Fonder AB grew its holdings in shares of First Solar by 12.1% in the fourth quarter. Handelsbanken Fonder AB now owns 21,281 shares of the solar cell manufacturer’s stock valued at $3,666,000 after purchasing an additional 2,300 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in First Solar during the 4th quarter worth approximately $167,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Price Performance

First Solar stock opened at $231.07 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.23. First Solar, Inc. has a one year low of $129.21 and a one year high of $306.77. The company has a market cap of $24.73 billion, a P/E ratio of 24.22, a price-to-earnings-growth ratio of 0.37 and a beta of 1.44. The business has a fifty day moving average of $227.57 and a two-hundred day moving average of $202.15.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. During the same quarter in the previous year, the firm earned $1.85 earnings per share. The firm’s revenue was up 24.6% on a year-over-year basis. As a group, analysts predict that First Solar, Inc. will post 13.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on FSLR shares. Guggenheim dropped their price target on shares of First Solar from $359.00 to $356.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Janney Montgomery Scott cut First Solar from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 18th. Morgan Stanley increased their price target on First Solar from $248.00 to $331.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. JPMorgan Chase & Co. boosted their price objective on First Solar from $262.00 to $282.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $315.00 target price on shares of First Solar in a report on Wednesday, July 31st. Four equities research 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, the company currently has an average rating of “Moderate Buy” and an average price target of $275.36.

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 on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now directly owns 3,468 shares in the company, valued at $769,896. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other 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 sale, the chief financial officer now directly owns 30,652 shares in the company, valued at $8,419,797.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Patrick James Buehler sold 8,619 shares of the company’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 transaction, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. The disclosure for this sale can be found here. Insiders have sold a total of 37,203 shares of company stock worth $9,598,253 in the last quarter. Company insiders own 0.58% of the company’s stock.

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.