First Solar, Inc. (NASDAQ:FSLR) is Summerhill Capital Management lnc.’s 6th Largest Position

Summerhill Capital Management lnc. decreased its holdings in First Solar, Inc. (NASDAQ:FSLR) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,389 shares of the solar cell manufacturer’s stock after selling 1,576 shares during the period. First Solar comprises about 5.8% of Summerhill Capital Management lnc.’s investment portfolio, making the stock its 6th biggest holding. Summerhill Capital Management lnc.’s holdings in First Solar were worth $8,204,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Dixon Mitchell Investment Counsel Inc. bought a new position in First Solar during the first quarter valued at approximately $25,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of First Solar during the 4th quarter valued at $27,000. Atlas Capital Advisors LLC boosted its stake in shares of First Solar by 411.1% in the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after buying an additional 111 shares during the last quarter. Riverview Trust Co bought a new stake in shares of First Solar in the first quarter worth $32,000. Finally, Summit Securities Group LLC purchased a new stake in First Solar during the second quarter valued at $36,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

Shares of FSLR stock opened at $228.79 on Monday. The stock has a 50 day moving average price of $221.07 and a 200 day moving average price of $210.57. First Solar, Inc. has a 52-week low of $129.21 and a 52-week 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 capitalization of $24.49 billion, a P/E ratio of 23.98, a P/E/G ratio of 0.40 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last released its earnings results 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 business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the company earned $1.85 earnings per share. As a group, sell-side analysts predict that First Solar, Inc. will post 13.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FSLR has been the subject of a number of recent research reports. BMO Capital Markets cut their price target on First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Barclays upped their target price on shares of First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of First Solar from $262.00 to $282.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. DZ Bank upgraded First Solar from a “hold” rating to a “buy” rating and set a $280.00 price objective for the company in a research note on Thursday, August 1st. Finally, Susquehanna lifted their target price on First Solar from $258.00 to $285.00 and gave the company a “positive” rating in a research report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $277.25.

Insider Buying and Selling at First Solar

In other news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 of the company’s stock, valued at $769,896. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Kuntal Kumar Verma sold 1,621 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $260.00, for a total value of $421,460.00. Following the completion of the sale, the insider now owns 3,549 shares in the company, valued at approximately $922,740. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 disclosure for this sale can be found here. Insiders sold a total of 12,506 shares of company stock valued at $2,827,217 in the last three months. Company insiders own 0.58% of the company’s stock.

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.