Moors & Cabot Inc. Has $253,000 Stake in First Solar, Inc. (NASDAQ:FSLR)

Moors & Cabot Inc. trimmed its position in First Solar, Inc. (NASDAQ:FSLR) by 13.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,122 shares of the solar cell manufacturer’s stock after selling 170 shares during the quarter. Moors & Cabot Inc.’s holdings in First Solar were worth $253,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FSLR. Oregon Public Employees Retirement Fund raised its stake in First Solar by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock worth $2,068,000 after acquiring an additional 49 shares in the last quarter. Cambridge Trust Co. raised its stake in First Solar by 1.6% during the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock worth $546,000 after acquiring an additional 50 shares in the last quarter. Great Diamond Partners LLC raised its stake in First Solar by 3.8% during the first quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer’s stock worth $247,000 after acquiring an additional 53 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of First Solar by 24.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the solar cell manufacturer’s stock worth $70,000 after purchasing an additional 62 shares during the last quarter. Finally, Harbor Investment Advisory LLC grew its holdings in shares of First Solar by 36.0% during the first quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer’s stock worth $46,000 after purchasing an additional 72 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at First Solar

In other news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $769,896. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Patrick James Buehler sold 8,619 shares of the business’s 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 transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on the company. Bank of America increased their target price on First Solar from $320.00 to $343.00 and gave the stock a “buy” rating in a report on Monday, September 16th. UBS Group raised their price target on First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $315.00 price target on shares of First Solar in a report on Wednesday, July 31st. William Blair started coverage on First Solar in a report on Thursday, August 29th. They issued a “market perform” rating on the stock. Finally, Oppenheimer raised their price target on First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $283.46.

First Solar Stock Performance

FSLR opened at $240.20 on Friday. The company has a market capitalization of $25.71 billion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 0.40 and a beta of 1.44. The business’s 50-day moving average price is $221.89 and its two-hundred day moving average price is $212.12. 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 2.23 and a quick ratio of 1.65.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating the consensus estimate of $2.69 by $0.56. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.85 EPS. Equities analysts expect that First Solar, Inc. will post 13.6 EPS for the current fiscal 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.