Bangor Savings Bank Acquires 86 Shares of First Solar, Inc. (NASDAQ:FSLR)

Bangor Savings Bank lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,924 shares of the solar cell manufacturer’s stock after buying an additional 86 shares during the period. Bangor Savings Bank’s holdings in First Solar were worth $1,228,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. increased its position in First Solar by 6.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 259,177 shares of the solar cell manufacturer’s stock valued at $43,749,000 after acquiring an additional 15,430 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in First Solar by 20.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 121,055 shares of the solar cell manufacturer’s stock valued at $20,434,000 after buying an additional 20,465 shares during the period. Northern Trust Corp increased its holdings in First Solar by 1.7% during the fourth quarter. Northern Trust Corp now owns 1,020,527 shares of the solar cell manufacturer’s stock valued at $175,816,000 after buying an additional 16,756 shares during the last quarter. Legend Financial Advisors Inc. bought a new position in First Solar in the first quarter worth approximately $759,000. Finally, Burford Brothers Inc. purchased a new position in shares of First Solar during the 4th quarter worth $3,539,000. 92.08% of the stock is currently owned by institutional investors.

Insider Transactions at First Solar

In other news, CAO Byron Michael Jeffers sold 1,766 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the sale, the chief accounting officer now owns 500 shares of the company’s stock, valued at $108,250. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, 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 owns 3,468 shares in the company, valued at $769,896. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Byron Michael Jeffers sold 1,766 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the transaction, the chief accounting officer now owns 500 shares in the company, valued at $108,250. The trade was a 0.00 % decrease in their ownership of the stock. 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 in the last three months. 0.58% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FSLR. Oppenheimer upped their price objective on First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Clarkson Capital initiated coverage on First Solar in a report on Wednesday, August 14th. They set a “buy” rating and a $270.00 price target on the stock. UBS Group increased their target price on First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Janney Montgomery Scott lowered shares of First Solar from a “buy” rating to a “neutral” rating in a report on Tuesday, June 18th. Finally, DZ Bank raised shares of First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price on the stock in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $284.12.

First Solar Price Performance

NASDAQ:FSLR opened at $229.62 on Tuesday. First Solar, Inc. has a one year low of $129.21 and a one year high of $306.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. The firm has a market cap of $24.58 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 0.42 and a beta of 1.44. The firm’s fifty day moving average is $227.36 and its two-hundred day moving average is $220.28.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. During the same period in the prior year, the firm posted $1.85 earnings per share. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. Research analysts expect that First Solar, Inc. will post 13.62 EPS for the current year.

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.