Buffington Mohr McNeal Acquires 840 Shares of First Solar, Inc. (NASDAQ:FSLR)

Buffington Mohr McNeal lifted its stake in First Solar, Inc. (NASDAQ:FSLR) by 26.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,959 shares of the solar cell manufacturer’s stock after buying an additional 840 shares during the period. Buffington Mohr McNeal’s holdings in First Solar were worth $668,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of First Solar by 4.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 548,058 shares of the solar cell manufacturer’s stock worth $94,419,000 after acquiring an additional 20,946 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of First Solar by 504.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock valued at $68,852,000 after purchasing an additional 333,496 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of First Solar by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock valued at $1,945,549,000 after purchasing an additional 279,424 shares during the last quarter. Northern Trust Corp raised its holdings in shares of First Solar by 1.7% during the 4th quarter. Northern Trust Corp now owns 1,020,527 shares of the solar cell manufacturer’s stock worth $175,816,000 after buying an additional 16,756 shares in the last quarter. Finally, Bull Oak Capital LLC lifted its position in shares of First Solar by 304,592.2% during the 4th quarter. Bull Oak Capital LLC now owns 155,393 shares of the solar cell manufacturer’s stock worth $26,771,000 after buying an additional 155,342 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Trading Down 2.7 %

Shares of First Solar stock traded down $5.98 on Tuesday, reaching $216.73. 3,184,535 shares of the company’s stock were exchanged, compared to its average volume of 2,505,083. The company has a market capitalization of $23.20 billion, a P/E ratio of 22.72, a price-to-earnings-growth ratio of 0.30 and a beta of 1.44. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $306.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41. The firm’s 50-day moving average is $233.50 and its two-hundred day moving average is $185.95.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The business had revenue of $794.10 million during the quarter, compared to analysts’ expectations of $718.19 million. During the same period last year, the company posted $0.40 earnings per share. The business’s quarterly revenue was up 44.8% on a year-over-year basis. Sell-side analysts predict that First Solar, Inc. will post 13.59 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays boosted their target price on First Solar from $227.00 to $228.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Evercore ISI upgraded shares of First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 target price on the stock in a research report on Tuesday, April 23rd. Morgan Stanley boosted their target price on shares of First Solar from $248.00 to $331.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. Bank of America raised their price objective on First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $266.04.

Insider Activity at First Solar

In related news, insider Georges Antoun sold 2,400 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total value of $422,400.00. Following the transaction, the insider now directly owns 37,412 shares in the company, valued at approximately $6,584,512. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Alexander R. Bradley sold 16,051 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the completion of the sale, the chief financial officer now directly owns 30,652 shares of the company’s stock, valued at $8,419,797.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Georges Antoun sold 2,400 shares of First Solar stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $176.00, for a total value of $422,400.00. Following the transaction, the insider now directly owns 37,412 shares in the company, valued at approximately $6,584,512. The disclosure for this sale can be found here. Insiders sold 55,490 shares of company stock valued at $13,301,803 in the last three months. Corporate 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.