SFE Investment Counsel Buys 6,052 Shares of First Solar, Inc. (NASDAQ:FSLR)

SFE Investment Counsel raised its stake in First Solar, Inc. (NASDAQ:FSLR) by 11.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,705 shares of the solar cell manufacturer’s stock after buying an additional 6,052 shares during the quarter. First Solar accounts for about 1.4% of SFE Investment Counsel’s portfolio, making the stock its 26th largest position. SFE Investment Counsel’s holdings in First Solar were worth $5,223,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of FSLR. Benjamin F. Edwards & Company Inc. grew its holdings in shares of First Solar by 8.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,001 shares of the solar cell manufacturer’s stock valued at $175,000 after buying an additional 154 shares during the period. Fisher Asset Management LLC lifted its holdings in First Solar by 0.7% during the second quarter. Fisher Asset Management LLC now owns 24,048 shares of the solar cell manufacturer’s stock worth $2,177,000 after acquiring an additional 179 shares in the last quarter. Bartlett & Co. LLC grew its stake in First Solar by 20.0% in the second quarter. Bartlett & Co. LLC now owns 1,350 shares of the solar cell manufacturer’s stock valued at $122,000 after acquiring an additional 225 shares during the period. Sigma Planning Corp increased its holdings in shares of First Solar by 4.1% in the first quarter. Sigma Planning Corp now owns 5,692 shares of the solar cell manufacturer’s stock worth $497,000 after acquiring an additional 226 shares in the last quarter. Finally, MML Investors Services LLC raised its position in shares of First Solar by 3.4% during the first quarter. MML Investors Services LLC now owns 6,922 shares of the solar cell manufacturer’s stock worth $604,000 after purchasing an additional 226 shares during the period. Hedge funds and other institutional investors own 73.18% of the company’s stock.

In other First Solar news, insider Georges Antoun sold 24,052 shares of the firm’s stock in a transaction on Monday, July 12th. The stock was sold at an average price of $95.20, for a total value of $2,289,750.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Alexander R. Bradley sold 13,177 shares of the company’s stock in a transaction on Monday, August 2nd. The stock was sold at an average price of $88.20, for a total value of $1,162,211.40. The disclosure for this sale can be found here. Insiders have sold 39,827 shares of company stock valued at $3,694,772 in the last ninety days. 0.55% of the stock is currently owned by company insiders.

Shares of NASDAQ FSLR traded down $0.74 during trading hours on Wednesday, reaching $104.42. 36,778 shares of the stock were exchanged, compared to its average volume of 2,224,341. First Solar, Inc. has a 52 week low of $59.52 and a 52 week high of $112.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.86 and a current ratio of 4.77. The firm has a market capitalization of $11.10 billion, a price-to-earnings ratio of 19.99, a P/E/G ratio of 2.13 and a beta of 1.30. The stock’s fifty day simple moving average is $92.02 and its 200 day simple moving average is $84.23.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, July 29th. The solar cell manufacturer reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.17. The firm had revenue of $629.18 million for the quarter, compared to analyst estimates of $632.03 million. First Solar had a return on equity of 10.05% and a net margin of 18.96%. During the same quarter last year, the company earned $0.35 EPS. Research analysts predict that First Solar, Inc. will post 4.32 EPS for the current fiscal year.

A number of research firms recently issued reports on FSLR. Stephens began coverage on First Solar in a research note on Thursday, June 24th. They set an “overweight” rating and a $102.00 target price for the company. Needham & Company LLC began coverage on First Solar in a report on Thursday, September 9th. They set a “hold” rating for the company. Credit Suisse Group started coverage on First Solar in a research report on Wednesday, July 14th. They set a “neutral” rating and a $73.00 price objective for the company. TheStreet raised shares of First Solar from a “c” rating to a “b-” rating in a research report on Friday, June 25th. Finally, Susquehanna raised shares of First Solar from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $89.00 to $120.00 in a research report on Monday, August 2nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $101.48.

First Solar Company Profile

First Solar, Inc engages in designing, manufacturing, marketing, and distribution of photovoltaic solar power systems and solar modules. It operates through the Modules and Systems segments. The Modules segment involves in the design, manufacture, and sale of cadmium telluride solar modules, which convert sunlight into electricity.

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Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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