Family Firm Inc. Invests $130,000 in First Solar, Inc. (NASDAQ:FSLR)

Family Firm Inc. acquired a new stake in First Solar, Inc. (NASDAQ:FSLR) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 576 shares of the solar cell manufacturer’s stock, valued at approximately $130,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of First Solar during the 1st quarter valued at approximately $25,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of First Solar during the fourth quarter worth $27,000. Riverview Trust Co bought a new position in shares of First Solar in the 1st quarter valued at $32,000. USCF Advisers LLC boosted its holdings in shares of First Solar by 100.0% during the 4th quarter. USCF Advisers LLC now owns 200 shares of the solar cell manufacturer’s stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. Finally, Mather Group LLC. grew its position in First Solar by 321.2% during the 2nd quarter. Mather Group LLC. now owns 219 shares of the solar cell manufacturer’s stock worth $49,000 after acquiring an additional 167 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Up 5.9 %

Shares of NASDAQ FSLR traded up $12.81 during midday trading on Friday, hitting $231.07. 1,274,326 shares of the stock traded hands, compared to its average volume of 2,450,218. 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 business has a 50 day moving average price of $227.57 and a two-hundred day moving average price of $202.15. The company has a market cap of $24.73 billion, a PE ratio of 24.22, a P/E/G ratio of 0.37 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating 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 business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $939.71 million. During the same quarter in the previous year, the business posted $1.85 EPS. First Solar’s quarterly revenue was up 24.6% on a year-over-year basis. On average, equities analysts predict that First Solar, Inc. will post 13.53 EPS for the current year.

Insider Activity at First Solar

In related news, insider Michael Koralewski sold 4,646 shares of First Solar stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $272.92, for a total transaction of $1,267,986.32. Following the transaction, the insider now owns 7,766 shares of the company’s stock, valued at $2,119,496.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Michael Koralewski sold 4,646 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $272.92, for a total transaction of $1,267,986.32. Following the transaction, the insider now directly owns 7,766 shares of the company’s stock, valued at $2,119,496.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Byron Michael Jeffers sold 1,766 shares of the company’s stock in a transaction dated 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. In the last quarter, insiders have sold 37,203 shares of company stock valued at $9,598,253. 0.58% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of recent research reports. Guggenheim cut their price target on First Solar from $359.00 to $356.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. The Goldman Sachs Group lifted their target price on shares of First Solar from $268.00 to $302.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Janney Montgomery Scott cut shares of First Solar from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $315.00 price target on shares of First Solar in a report on Wednesday, July 31st. Finally, BMO Capital Markets decreased their price objective on First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, First Solar has an average rating of “Moderate Buy” and a consensus price target of $275.36.

About First Solar

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.