Mirador Capital Partners LP Sells 56 Shares of First Solar, Inc. (NASDAQ:FSLR)

Mirador Capital Partners LP trimmed its position in First Solar, Inc. (NASDAQ:FSLR) by 3.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,690 shares of the solar cell manufacturer’s stock after selling 56 shares during the period. Mirador Capital Partners LP’s holdings in First Solar were worth $422,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Dixon Mitchell Investment Counsel Inc. bought a new stake in First Solar in the 1st quarter worth $25,000. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of First Solar in the 4th quarter worth approximately $27,000. Atlas Capital Advisors LLC raised its holdings in shares of First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after acquiring an additional 111 shares in the last quarter. Riverview Trust Co purchased a new stake in First Solar in the first quarter worth $32,000. Finally, Summit Securities Group LLC bought a new position in First Solar in the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Trading Down 1.7 %

Shares of FSLR stock opened at $231.13 on Friday. The stock’s 50-day moving average price is $227.18 and its 200-day moving average price is $219.26. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $306.77. The stock has a market capitalization of $24.74 billion, a price-to-earnings ratio of 24.23, a price-to-earnings-growth ratio of 0.42 and a beta of 1.44. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The business’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.85 EPS. Equities research analysts predict that First Solar, Inc. will post 13.62 EPS for the current fiscal year.

Analysts Set New Price Targets

FSLR has been the subject of a number of research reports. BMO Capital Markets decreased their price target on shares of First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Royal Bank of Canada restated an “outperform” rating and set a $315.00 target price on shares of First Solar in a report on Wednesday, July 31st. Janney Montgomery Scott downgraded shares of First Solar from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 18th. Bank of America lifted their target price on shares of First Solar from $320.00 to $343.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, Piper Sandler raised their price objective on First Solar from $219.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Four research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $284.12.

Insider Buying and Selling

In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction dated Monday, August 12th. The shares were 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 available through this hyperlink. In related news, insider Patrick James Buehler sold 8,619 shares of the firm’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 transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Byron Michael Jeffers sold 500 shares of the business’s stock in a transaction that occurred 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. In the last three months, insiders sold 10,885 shares of company stock valued at $2,405,757. Insiders own 0.58% of the company’s stock.

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.