Quest Partners LLC Boosts Holdings in First Solar, Inc. (NASDAQ:FSLR)

Quest Partners LLC grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 8,375.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 678 shares of the solar cell manufacturer’s stock after buying an additional 670 shares during the quarter. Quest Partners LLC’s holdings in First Solar were worth $153,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Ballentine Partners LLC grew its position in First Solar by 24.2% in the 2nd quarter. Ballentine Partners LLC now owns 2,415 shares of the solar cell manufacturer’s stock valued at $544,000 after acquiring an additional 470 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of First Solar during the second quarter valued at $794,000. Private Advisor Group LLC bought a new position in shares of First Solar in the second quarter worth about $834,000. Addison Advisors LLC increased its stake in First Solar by 13.8% in the 2nd quarter. Addison Advisors LLC now owns 1,092 shares of the solar cell manufacturer’s stock worth $246,000 after buying an additional 132 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in First Solar by 4.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,956 shares of the solar cell manufacturer’s stock valued at $666,000 after buying an additional 130 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on FSLR shares. Mizuho reaffirmed a “neutral” rating and set a $274.00 target price (up from $209.00) on shares of First Solar in a research report on Thursday, May 30th. BMO Capital Markets decreased their target price on First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their price target on First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. William Blair assumed coverage on First Solar in a report on Thursday, August 29th. They issued a “market perform” rating for the company. Finally, Morgan Stanley upped their price objective on shares of First Solar from $248.00 to $331.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. Five analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and a consensus target price of $283.46.

Insider Buying and Selling at First Solar

In related news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction dated 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 sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $1,913,418.00. Following the completion of the transaction, the insider now 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 available at the SEC website. Also, CAO Byron Michael Jeffers sold 1,766 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the transaction, the chief accounting officer now owns 500 shares of the company’s stock, valued at $108,250. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,506 shares of company stock worth $2,827,217. 0.58% of the stock is currently owned by insiders.

First Solar Stock Up 2.0 %

FSLR stock opened at $233.31 on Tuesday. The stock has a market capitalization of $24.97 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 0.40 and a beta of 1.44. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $306.77. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average of $221.19 and a 200 day moving average of $211.13.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data 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 business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. During the same period in the previous year, the firm posted $1.85 earnings per share. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. Sell-side analysts forecast that First Solar, Inc. will post 13.6 earnings per share for the current year.

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.