GAMMA Investing LLC Buys 128 Shares of First Solar, Inc. (NASDAQ:FSLR)

GAMMA Investing LLC lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 13.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,096 shares of the solar cell manufacturer’s stock after purchasing an additional 128 shares during the period. GAMMA Investing LLC’s holdings in First Solar were worth $185,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Compass Wealth Management LLC raised its stake in shares of First Solar by 70.3% during the 1st quarter. Compass Wealth Management LLC now owns 2,120 shares of the solar cell manufacturer’s stock worth $358,000 after purchasing an additional 875 shares during the period. Leibman Financial Services Inc. raised its stake in shares of First Solar by 13.8% during the 1st quarter. Leibman Financial Services Inc. now owns 18,184 shares of the solar cell manufacturer’s stock worth $3,069,000 after purchasing an additional 2,206 shares during the period. Symmetry Partners LLC bought a new stake in First Solar in the 1st quarter valued at about $206,000. Nomura Holdings Inc. bought a new stake in First Solar in the 4th quarter valued at about $2,099,000. Finally, SCP Investment LP raised its stake in First Solar by 159.7% in the 4th quarter. SCP Investment LP now owns 10,878 shares of the solar cell manufacturer’s stock valued at $1,865,000 after acquiring an additional 6,690 shares during the period. 92.08% of the stock is currently owned by institutional investors.

First Solar Stock Performance

NASDAQ:FSLR opened at $260.07 on Friday. The business has a 50 day moving average of $223.74 and a 200 day moving average of $180.71. The company has a market capitalization of $27.84 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 0.34 and a beta of 1.48. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86.

First Solar (NASDAQ:FSLR) last released its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. The company had revenue of $794.10 million during the quarter, compared to the consensus estimate of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. First Solar’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. On average, sell-side analysts predict that First Solar, Inc. will post 13.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael T. Sweeney sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $273.50, for a total value of $1,094,000.00. Following the completion of the sale, the director now owns 16,692 shares in the company, valued at approximately $4,565,262. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other First Solar news, insider Georges Antoun sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total value of $422,400.00. Following the completion of the sale, the insider now owns 37,412 shares in the company, valued at $6,584,512. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael T. Sweeney sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $273.50, for a total value of $1,094,000.00. Following the completion of the sale, the director now owns 16,692 shares of the company’s stock, valued at approximately $4,565,262. The disclosure for this sale can be found here. Insiders sold 56,269 shares of company stock worth $13,287,671 in the last quarter. 0.58% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FSLR. BMO Capital Markets boosted their price objective on First Solar from $224.00 to $311.00 and gave the company an “outperform” rating in a research note on Monday, June 10th. JPMorgan Chase & Co. boosted their price objective on First Solar from $240.00 to $262.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Robert W. Baird boosted their price objective on First Solar from $246.00 to $344.00 and gave the company an “outperform” rating in a research note on Tuesday, June 11th. DZ Bank cut First Solar from a “buy” rating to a “hold” rating and set a $270.00 price objective on the stock. in a research note on Wednesday, May 29th. Finally, Bank of America boosted their price objective on First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Five analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and an average target price of $265.72.

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.