First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. cut its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 5.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,373 shares of the solar cell manufacturer’s stock after selling 449 shares during the period. Duff & Phelps Investment Management Co.’s holdings in First Solar were worth $1,888,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Atlas Capital Advisors LLC raised its holdings in First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after purchasing an additional 111 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of First Solar in the first quarter valued at $25,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in First Solar during the 4th quarter valued at $27,000. Summit Securities Group LLC acquired a new stake in First Solar during the 2nd quarter valued at $36,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in First Solar during the 2nd quarter valued at $38,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Piper Sandler boosted their price target on shares of First Solar from $219.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Truist Financial assumed coverage on shares of First Solar in a report on Thursday. They set a “buy” rating and a $300.00 price target on the stock. DZ Bank upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $280.00 price target on the stock in a report on Thursday, August 1st. The Goldman Sachs Group upped their price objective on shares of First Solar from $268.00 to $302.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of First Solar from $262.00 to $282.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $284.12.

Insider Activity at First Solar

In related news, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction on Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction on 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 transaction, the insider now directly owns 3,468 shares in the company, valued at $769,896. The disclosure for this sale can be found here. Insiders sold a total of 10,885 shares of company stock valued at $2,405,757 over the last quarter. Corporate insiders own 0.58% of the company’s stock.

First Solar Stock Performance

NASDAQ:FSLR opened at $255.75 on Monday. 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 firm has a market capitalization of $27.38 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 0.42 and a beta of 1.44. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $306.77. The firm has a 50-day moving average price of $225.51 and a 200 day moving average price of $216.60.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.56. The firm 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 company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.85 earnings per share. Research analysts anticipate that First Solar, Inc. will post 13.62 earnings per share for the current fiscal 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.