First Solar, Inc. (NASDAQ:FSLR) Stock Position Lifted by Beech Hill Advisors Inc.

Beech Hill Advisors Inc. lifted its stake in First Solar, Inc. (NASDAQ:FSLR) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,440 shares of the solar cell manufacturer’s stock after purchasing an additional 212 shares during the period. First Solar accounts for about 2.5% of Beech Hill Advisors Inc.’s investment portfolio, making the stock its 9th biggest holding. Beech Hill Advisors Inc.’s holdings in First Solar were worth $6,595,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. Vontobel Holding Ltd. lifted its holdings in shares of First Solar by 18.3% during the third quarter. Vontobel Holding Ltd. now owns 196,923 shares of the solar cell manufacturer’s stock valued at $49,120,000 after purchasing an additional 30,514 shares during the last quarter. Foster Victor Wealth Advisors LLC raised its stake in First Solar by 6.7% during the third quarter. Foster Victor Wealth Advisors LLC now owns 47,207 shares of the solar cell manufacturer’s stock valued at $11,775,000 after buying an additional 2,944 shares during the last quarter. HTLF Bank purchased a new position in First Solar during the third quarter valued at $201,000. BDF Gestion bought a new stake in First Solar in the third quarter worth $1,247,000. Finally, Creative Planning grew its stake in shares of First Solar by 7.1% in the third quarter. Creative Planning now owns 17,003 shares of the solar cell manufacturer’s stock worth $4,241,000 after acquiring an additional 1,121 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

Insider Activity at First Solar

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now directly owns 3,468 shares of the company’s stock, valued at $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares in the company, valued at $769,896. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Byron Michael Jeffers sold 1,766 shares of First Solar stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the sale, the chief accounting officer now owns 500 shares in the company, valued at approximately $108,250. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,885 shares of company stock worth $2,405,757. 0.58% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on FSLR. Truist Financial began coverage on shares of First Solar in a research note on Thursday, September 26th. They set a “buy” rating and a $300.00 price objective for the company. Jefferies Financial Group reduced their price target on shares of First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Susquehanna lowered their price objective on First Solar from $285.00 to $280.00 and set a “positive” rating on the stock in a research report on Wednesday. Clarkson Capital assumed coverage on First Solar in a report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Four research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $283.64.

First Solar Stock Up 1.8 %

NASDAQ FSLR opened at $205.62 on Thursday. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $306.77. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $22.01 billion, a P/E ratio of 21.55, a price-to-earnings-growth ratio of 0.38 and a beta of 1.44. The stock’s 50-day moving average price is $227.39 and its 200-day moving average price is $222.37.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. The company 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 firm’s revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.85 EPS. On average, equities research analysts predict that First Solar, Inc. will post 13.53 earnings per share for the current year.

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.