Foundations Investment Advisors LLC Takes Position in First Solar, Inc. (NASDAQ:FSLR)

Foundations Investment Advisors LLC purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,768 shares of the solar cell manufacturer’s stock, valued at approximately $441,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FSLR. Venture Visionary Partners LLC increased its position in shares of First Solar by 1.1% during the third quarter. Venture Visionary Partners LLC now owns 36,086 shares of the solar cell manufacturer’s stock worth $9,001,000 after purchasing an additional 388 shares in the last quarter. Western Financial Corp CA acquired a new position in First Solar during the third quarter worth approximately $1,209,000. Everence Capital Management Inc. acquired a new position in First Solar during the third quarter worth approximately $529,000. Toth Financial Advisory Corp boosted its holdings in shares of First Solar by 9.1% in the third quarter. Toth Financial Advisory Corp now owns 3,960 shares of the solar cell manufacturer’s stock valued at $988,000 after acquiring an additional 330 shares during the period. Finally, Raymond James & Associates grew its position in shares of First Solar by 10.1% during the third quarter. Raymond James & Associates now owns 13,040 shares of the solar cell manufacturer’s stock worth $3,253,000 after acquiring an additional 1,197 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Trading Up 1.2 %

NASDAQ:FSLR opened at $198.47 on Friday. The company has a market capitalization of $21.24 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 0.38 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 stock has a fifty day simple moving average of $224.06 and a 200-day simple moving average of $223.31. 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 (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. During the same quarter in the prior year, the firm earned $1.85 earnings per share. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, equities research analysts expect that First Solar, Inc. will post 13.53 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, CAO Byron Michael Jeffers sold 1,766 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total value of $382,339.00. Following the sale, the chief accounting officer now directly owns 500 shares in the company, valued at $108,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction 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 owns 3,468 shares of the company’s stock, valued at $769,896. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total value of $382,339.00. Following the sale, the chief accounting officer now owns 500 shares in the company, valued at $108,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,885 shares of company stock worth $2,405,757. 0.58% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FSLR has been the subject of a number of recent research reports. Truist Financial began coverage on shares of First Solar in a research note on Thursday, September 26th. They set a “buy” rating and a $300.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and issued a $315.00 price target on shares of First Solar in a research report on Wednesday, July 31st. Piper Sandler lifted their target price on First Solar from $219.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. DZ Bank upgraded First Solar from a “hold” rating to a “buy” rating and set a $280.00 price target for the company in a research note on Thursday, August 1st. Finally, Bank of America lowered their price objective on shares of First Solar from $343.00 to $321.00 and set a “buy” rating on the stock in a research report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average price target of $288.46.

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.