Mutual of America Capital Management LLC Sells 512 Shares of First Solar, Inc. (NASDAQ:FSLR)

Mutual of America Capital Management LLC lessened its stake in First Solar, Inc. (NASDAQ:FSLR) by 3.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,497 shares of the solar cell manufacturer’s stock after selling 512 shares during the quarter. Mutual of America Capital Management LLC’s holdings in First Solar were worth $3,043,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FSLR. Atlas Capital Advisors LLC lifted its holdings in shares of 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. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of First Solar in the 1st quarter valued at $25,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of First Solar during the 4th quarter worth $27,000. Summit Securities Group LLC bought a new stake in shares of First Solar during the 2nd quarter worth $36,000. Finally, Riverview Trust Co acquired a new stake in First Solar in the first quarter valued at about $32,000. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of FSLR opened at $249.28 on Tuesday. First Solar, Inc. has a one year low of $129.21 and a one year high of $306.77. The company has a market cap of $26.68 billion, a PE ratio of 26.13, a P/E/G ratio of 0.40 and a beta of 1.44. The stock has a 50-day moving average of $222.75 and a 200-day moving average of $214.08. 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 quarterly earnings data 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. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. During the same quarter in the previous year, the company posted $1.85 earnings per share. The company’s quarterly revenue was up 24.6% on a year-over-year basis. On average, equities research analysts predict that First Solar, Inc. will post 13.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FSLR. Susquehanna increased their target price on shares of First Solar from $258.00 to $285.00 and gave the stock a “positive” rating in a report on Wednesday, July 3rd. Bank of America upped their price target on shares of First Solar from $320.00 to $343.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Morgan Stanley upped their target price on First Solar from $248.00 to $331.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Mizuho reissued a “neutral” rating and set a $274.00 price target (up from $209.00) on shares of First Solar in a research note on Thursday, May 30th. Finally, Clarkson Capital assumed coverage on First Solar in a research note on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and a consensus target price of $283.46.

Insider Transactions at First Solar

In related news, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Patrick James Buehler sold 8,619 shares of the 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 sale, the insider now directly owns 3,468 shares of the company’s stock, valued at $769,896. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of the business’s stock in a transaction on Monday, August 12th. The stock was 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. Insiders sold a total of 10,885 shares of company stock valued at $2,405,757 over the last ninety days. 0.58% of the stock is currently owned by insiders.

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.