Amalgamated Bank Sells 549 Shares of First Solar, Inc. (NASDAQ:FSLR)

Amalgamated Bank decreased its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,713 shares of the solar cell manufacturer’s stock after selling 549 shares during the period. Amalgamated Bank’s holdings in First Solar were worth $4,895,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of FSLR. Schroder Investment Management Group grew its holdings in shares of First Solar by 16.7% during the 4th quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock worth $422,861,000 after acquiring an additional 351,540 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of First Solar by 11.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock valued at $472,963,000 after purchasing an additional 279,719 shares in the last quarter. Park West Asset Management LLC purchased a new stake in First Solar in the fourth quarter worth $26,359,000. Swedbank AB bought a new position in First Solar in the first quarter worth $21,815,000. Finally, Renaissance Technologies LLC purchased a new position in First Solar during the second quarter valued at $27,078,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Down 0.1 %

First Solar stock opened at $240.20 on Friday. The stock has a market cap of $25.71 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 0.40 and a beta of 1.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. The stock has a fifty day moving average of $222.03 and a 200 day moving average of $213.07. First Solar, Inc. has a one year low of $129.21 and a one year high of $306.77.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping 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 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 quarter in the prior year, the business earned $1.85 EPS. As a group, sell-side analysts predict that First Solar, Inc. will post 13.6 EPS for the current year.

Insiders Place Their Bets

In other news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was 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 directly owns 3,468 shares in the company, valued at approximately $769,896. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction dated 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 SEC, which can be accessed through this link. Also, CAO Byron Michael Jeffers sold 500 shares of the 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,885 shares of company stock worth $2,405,757. Company insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on FSLR. Janney Montgomery Scott lowered shares of First Solar from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 18th. Mizuho reaffirmed a “neutral” rating and set a $274.00 target price (up previously from $209.00) on shares of First Solar in a research note on Thursday, May 30th. William Blair started coverage on First Solar in a research report on Thursday, August 29th. They issued a “market perform” rating on the stock. Susquehanna raised their price objective on First Solar from $258.00 to $285.00 and gave the company a “positive” rating in a research report on Wednesday, July 3rd. Finally, Oppenheimer boosted their target price on First Solar from $325.00 to $326.00 and gave the stock 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’s stock. According to data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and a consensus target price of $283.46.

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.