Raymond James & Associates Buys 1,197 Shares of First Solar, Inc. (NASDAQ:FSLR)

Raymond James & Associates raised its stake in First Solar, Inc. (NASDAQ:FSLR) by 10.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 13,040 shares of the solar cell manufacturer’s stock after acquiring an additional 1,197 shares during the period. Raymond James & Associates’ holdings in First Solar were worth $3,253,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. AlphaMark Advisors LLC bought a new stake in First Solar during the 3rd quarter valued at $25,000. Atlas Capital Advisors LLC increased its position in shares of First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 111 shares during the period. Summit Securities Group LLC bought a new position in shares of First Solar in the second quarter worth approximately $36,000. Itau Unibanco Holding S.A. bought a new position in shares of First Solar in the second quarter worth approximately $38,000. Finally, Alta Advisers Ltd bought a new position in shares of First Solar in the second quarter worth approximately $45,000. Institutional investors own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barclays increased their price target on shares of First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group reduced their price target on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Jefferies Financial Group reduced their price target on shares of First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. William Blair assumed coverage on shares of First Solar in a research report on Thursday, August 29th. They set a “market perform” rating on the stock. Finally, Oppenheimer increased their price target on shares of First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $281.13.

First Solar Stock Performance

Shares of FSLR stock opened at $204.94 on Monday. The company has a quick ratio of 1.65, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $21.94 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 0.34 and a beta of 1.48. The stock has a fifty day moving average of $221.68 and a 200 day moving average of $224.28. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.19). The firm had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.50 EPS. As a group, research analysts expect that First Solar, Inc. will post 13.12 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction dated 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 sale, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is currently owned by company insiders.

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.