Harbor Investment Advisory LLC Raises Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Harbor Investment Advisory LLC grew its holdings in First Solar, Inc. (NASDAQ:FSLR) by 36.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 272 shares of the solar cell manufacturer’s stock after buying an additional 72 shares during the quarter. Harbor Investment Advisory LLC’s holdings in First Solar were worth $46,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in FSLR. University of Texas Texas AM Investment Managment Co. acquired a new position in First Solar during the fourth quarter worth $27,000. Baystate Wealth Management LLC purchased a new position in First Solar in the 4th quarter valued at about $29,000. Headinvest LLC acquired a new stake in First Solar in the 3rd quarter worth about $30,000. Rakuten Securities Inc. purchased a new stake in First Solar during the 4th quarter worth approximately $34,000. Finally, USCF Advisers LLC raised its holdings in shares of First Solar by 100.0% during the fourth quarter. USCF Advisers LLC now owns 200 shares of the solar cell manufacturer’s stock valued at $34,000 after acquiring an additional 100 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FSLR. Jefferies Financial Group increased their price objective on First Solar from $209.50 to $211.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Janney Montgomery Scott cut shares of First Solar from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 18th. Evercore ISI upgraded shares of First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price target on the stock in a research report on Tuesday, April 23rd. The Goldman Sachs Group raised their target price on shares of First Solar from $268.00 to $302.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Finally, Robert W. Baird upped their price target on First Solar from $246.00 to $344.00 and gave the company an “outperform” rating in a research report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $265.72.

Insider Buying and Selling

In other First Solar news, insider Kuntal Kumar Verma sold 1,621 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $260.00, for a total transaction of $421,460.00. Following the transaction, the insider now owns 3,549 shares in the company, valued at approximately $922,740. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other First Solar news, insider Georges Antoun sold 2,400 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $169.72, for a total value of $407,328.00. Following the sale, the insider now owns 39,812 shares of the company’s stock, valued at $6,756,892.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kuntal Kumar Verma sold 1,621 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $260.00, for a total transaction of $421,460.00. Following the completion of the sale, the insider now owns 3,549 shares in the company, valued at $922,740. The disclosure for this sale can be found here. Insiders sold 57,890 shares of company stock valued at $13,709,131 over the last ninety days. Corporate insiders own 0.58% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $261.28 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41. First Solar, Inc. has a one year low of $129.21 and a one year high of $306.77. The company has a 50-day simple moving average of $226.98 and a 200-day simple moving average of $182.66. The stock has a market capitalization of $27.97 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 0.34 and a beta of 1.47.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, topping the consensus estimate of $1.90 by $0.30. The business had revenue of $794.10 million during the quarter, compared to analysts’ expectations of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The company’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 earnings per share. On average, analysts predict that First Solar, Inc. will post 13.58 EPS for the current year.

First Solar Company 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.