First Solar, Inc. (NASDAQ:FSLR) Holdings Lowered by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. lowered its stake in First Solar, Inc. (NASDAQ:FSLR) by 39.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,770 shares of the solar cell manufacturer’s stock after selling 1,161 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in First Solar were worth $442,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of FSLR. AlphaMark Advisors LLC acquired a new stake in shares of First Solar during the third quarter valued at approximately $25,000. Atlas Capital Advisors LLC raised its stake in First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares during the period. Summit Securities Group LLC purchased a new stake in shares of First Solar in the second quarter valued at $36,000. Itau Unibanco Holding S.A. acquired a new stake in shares of First Solar in the second quarter worth $38,000. Finally, Alta Advisers Ltd purchased a new position in shares of First Solar during the second quarter valued at $45,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at First Solar

In related news, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction on Monday, August 12th. The stock was 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 can be accessed through this hyperlink. In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the sale, the insider now directly owns 3,468 shares in the company, valued at $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.58% of the stock is owned by insiders.

First Solar Price Performance

NASDAQ:FSLR opened at $194.02 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar, Inc. has a one year low of $129.21 and a one year high of $306.77. The company has a fifty day moving average price of $220.87 and a 200 day moving average price of $225.16. The stock has a market cap of $20.77 billion, a P/E ratio of 16.71, a PEG ratio of 0.37 and a beta of 1.48.

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 analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the company posted $2.50 EPS. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. Analysts anticipate that First Solar, Inc. will post 13.12 earnings per share for the current year.

Analysts Set New Price Targets

FSLR has been the subject of a number of research reports. Royal Bank of Canada decreased their price objective on First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $260.00 price objective (down from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. Roth Mkm cut their target price on shares of First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Oppenheimer boosted their price target on shares of First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their price objective on First Solar from $262.00 to $282.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $281.13.

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.