First Solar, Inc. (NASDAQ:FSLR) Insider Patrick James Buehler Purchases 489 Shares of Stock

First Solar, Inc. (NASDAQ:FSLRGet Rating) insider Patrick James Buehler acquired 489 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were bought at an average price of $102.10 per share, for a total transaction of $49,926.90. Following the completion of the acquisition, the insider now owns 4,117 shares in the company, valued at $420,345.70. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

First Solar Stock Up 2.8 %

FSLR stock opened at $101.90 on Friday. First Solar, Inc. has a twelve month low of $59.60 and a twelve month high of $123.13. The company has a current ratio of 4.21, a quick ratio of 3.20 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $10.86 billion, a P/E ratio of 57.90, a PEG ratio of 1,486.81 and a beta of 1.49. The firm has a 50 day simple moving average of $73.43 and a 200-day simple moving average of $73.73.

First Solar (NASDAQ:FSLRGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The solar cell manufacturer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.09). The firm had revenue of $621.00 million for the quarter, compared to the consensus estimate of $606.45 million. First Solar had a return on equity of 3.21% and a net margin of 7.63%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.77 earnings per share. On average, equities research analysts predict that First Solar, Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Solar

A number of hedge funds have recently added to or reduced their stakes in the stock. FDx Advisors Inc. lifted its stake in First Solar by 3.4% in the second quarter. FDx Advisors Inc. now owns 3,529 shares of the solar cell manufacturer’s stock valued at $240,000 after buying an additional 116 shares during the last quarter. Ellevest Inc. raised its stake in shares of First Solar by 53.3% during the first quarter. Ellevest Inc. now owns 374 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 130 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of First Solar by 1.6% during the second quarter. Janney Montgomery Scott LLC now owns 8,636 shares of the solar cell manufacturer’s stock valued at $585,000 after purchasing an additional 133 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of First Solar by 0.8% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,107 shares of the solar cell manufacturer’s stock valued at $1,665,000 after purchasing an additional 153 shares in the last quarter. Finally, Bouvel Investment Partners LLC raised its stake in shares of First Solar by 0.8% during the first quarter. Bouvel Investment Partners LLC now owns 18,905 shares of the solar cell manufacturer’s stock valued at $1,583,000 after purchasing an additional 153 shares in the last quarter. 75.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Credit Suisse Group cut their price objective on shares of First Solar to $77.00 in a report on Monday, July 25th. JPMorgan Chase & Co. raised their price target on shares of First Solar from $69.00 to $73.00 in a report on Wednesday, July 20th. Roth Capital raised their price target on shares of First Solar from $85.00 to $135.00 in a report on Friday, July 29th. Bank of America upgraded shares of First Solar from an “underperform” rating to a “neutral” rating and raised their price target for the company from $63.00 to $104.50 in a report on Monday, August 1st. Finally, Morgan Stanley cut their price target on shares of First Solar from $62.00 to $54.00 and set an “underweight” rating on the stock in a report on Monday, June 13th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $94.92.

About First Solar

(Get Rating)

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.

Further Reading

Insider Buying and Selling by Quarter for First Solar (NASDAQ:FSLR)

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