First Solar, Inc. (NASDAQ:FSLR) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in First Solar, Inc. (NASDAQ:FSLR) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,606 shares of the solar cell manufacturer’s stock after acquiring an additional 219 shares during the quarter. Victory Capital Management Inc.’s holdings in First Solar were worth $9,831,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of First Solar in the first quarter valued at about $25,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in First Solar during the 4th quarter valued at approximately $27,000. Atlas Capital Advisors LLC lifted its position 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 worth $31,000 after acquiring an additional 111 shares during the period. Riverview Trust Co purchased a new position in shares of First Solar in the 1st quarter valued at approximately $32,000. Finally, Summit Securities Group LLC acquired a new position in shares of First Solar in the second quarter valued at approximately $36,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at $769,896. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kuntal Kumar Verma sold 1,621 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $260.00, for a total transaction of $421,460.00. Following the completion of the transaction, the insider now owns 3,549 shares in the company, valued at $922,740. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,506 shares of company stock worth $2,827,217. Corporate insiders own 0.58% of the company’s stock.

First Solar Trading Down 3.0 %

Shares of NASDAQ FSLR opened at $228.79 on Friday. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $306.77. The company’s fifty day moving average is $221.07 and its 200-day moving average is $210.14. The stock has a market cap of $24.49 billion, a price-to-earnings ratio of 23.98, a P/E/G ratio of 0.40 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping the consensus estimate 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 last year, the company posted $1.85 EPS. The business’s quarterly revenue was up 24.6% on a year-over-year basis. Equities research analysts predict that First Solar, Inc. will post 13.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FSLR shares. Royal Bank of Canada restated an “outperform” rating and issued a $315.00 target price on shares of First Solar in a research note on Wednesday, July 31st. Oppenheimer lifted their price objective on First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their target price on First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Morgan Stanley lifted their price target on First Solar from $248.00 to $331.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. Finally, 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 report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $277.25.

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.