Sequoia Financial Advisors LLC Buys 84 Shares of First Solar, Inc. (NASDAQ:FSLR)

Sequoia Financial Advisors LLC grew its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 5.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,585 shares of the solar cell manufacturer’s stock after buying an additional 84 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in First Solar were worth $395,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. AlphaMark Advisors LLC acquired a new stake in First Solar in the third quarter valued at $25,000. Atlas Capital Advisors LLC increased its stake in shares of First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 111 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of First Solar in the first quarter valued at about $25,000. Summit Securities Group LLC bought a new position in shares of First Solar during the second quarter worth about $36,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of First Solar in the second quarter worth approximately $38,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FSLR has been the topic of several recent analyst reports. Clarkson Capital began coverage on shares of First Solar in a report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 target price on the stock. Citigroup raised First Solar from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $200.00 to $254.00 in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. raised their target price on First Solar from $262.00 to $282.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Jefferies Financial Group cut their price target on First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Finally, Barclays increased their price objective on shares of First Solar from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $288.46.

First Solar Stock Up 1.2 %

FSLR opened at $198.47 on Monday. The firm’s 50 day simple moving average is $224.06 and its two-hundred day simple moving average is $223.85. The company has a market capitalization of $21.24 billion, a PE ratio of 20.80, a PEG ratio of 0.34 and a beta of 1.44. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77. 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 issued its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.56. The business 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 company’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.85 earnings per share. As a group, equities analysts forecast that First Solar, Inc. will post 13.39 EPS for the current year.

Insider Activity

In related news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other First Solar 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 completion of the sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction that occurred 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. Insiders sold a total of 10,885 shares of company stock worth $2,405,757 over the last 90 days. Corporate insiders own 0.58% of the company’s stock.

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.