Alta Advisers Ltd Invests $45,000 in First Solar, Inc. (NASDAQ:FSLR)

Alta Advisers Ltd purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 200 shares of the solar cell manufacturer’s stock, valued at approximately $45,000.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in First Solar by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock valued at $2,068,991,000 after buying an additional 105,236 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in First Solar by 11.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock valued at $472,963,000 after purchasing an additional 279,719 shares during the period. Schroder Investment Management Group boosted its holdings in First Solar by 16.7% in the 4th quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock valued at $422,861,000 after purchasing an additional 351,540 shares during the period. Norges Bank bought a new position in First Solar in the 4th quarter valued at $298,123,000. Finally, Northern Trust Corp boosted its holdings in First Solar by 1.7% in the 4th quarter. Northern Trust Corp now owns 1,020,527 shares of the solar cell manufacturer’s stock valued at $175,816,000 after purchasing an additional 16,756 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analysts Set New Price Targets

FSLR has been the subject of several analyst reports. Clarkson Capital started coverage on shares of First Solar in a report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price target for the company. Janney Montgomery Scott downgraded shares of First Solar from a “buy” rating to a “neutral” rating in a report on Tuesday, June 18th. The Goldman Sachs Group lifted their price objective on shares of First Solar from $268.00 to $302.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Robert W. Baird dropped their price objective on shares of First Solar from $344.00 to $307.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Finally, Susquehanna boosted their price target on shares of First Solar from $258.00 to $285.00 and gave the stock a “positive” rating in a research note on Wednesday, July 3rd. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.25.

Insider Transactions at First Solar

In other news, CAO Byron Michael Jeffers sold 1,766 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the transaction, the chief accounting officer now owns 500 shares in the company, valued at $108,250. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Kuntal Kumar Verma sold 1,621 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $260.00, for a total value of $421,460.00. Following the completion of the sale, the insider now directly owns 3,549 shares of the company’s stock, valued at $922,740. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the sale, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at $108,250. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,506 shares of company stock worth $2,827,217. Corporate insiders own 0.58% of the company’s stock.

First Solar Price Performance

Shares of FSLR opened at $228.79 on Friday. The stock has a market cap of $24.49 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 0.40 and a beta of 1.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. First Solar, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $306.77. The firm’s 50-day simple moving average is $221.07 and its two-hundred day simple moving average is $209.69.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share 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 analysts’ expectations of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The business’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.85 earnings per share. Analysts anticipate that First Solar, Inc. will post 13.6 earnings per share 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.