Sequoia Financial Advisors LLC has $338,000 position in First Solar, Inc. (NASDAQ:FSLR)

Sequoia Financial Advisors LLC raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR – Free Report) by 11.4% during the second quarter, Holdings Channel reports. The institutional investor owned 1,501 shares of the solar cell maker’s stock after purchasing an additional 154 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in First Solar were worth $338,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of FSLR. Vanguard Group Inc. boosted its holdings in First Solar by 0.9% in the first quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell maker’s stock valued at $2,068,991,000 after buying an additional 105,236 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding SA raised its stake in First Solar by 11.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding SA now owns 2,801,916 shares of the solar cell maker’s stock worth $472,963,000 after acquiring an additional 279,719 shares during the period. Schroder Investment Management Group boosted its holdings in First Solar by 16.7% in the 4th quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell maker’s stock valued at $422,861,000 after purchasing an additional 351,540 shares during the last quarter. Norges Bank bought a new stake in shares of First Solar in the 4th quarter valued at about $298,123,000. Finally, Northern Trust Corp grew its holdings in shares of First Solar by 1.7% during the 4th quarter. Northern Trust Corp now owns 1,020,527 shares of the solar cell maker’s stock worth $175,816,000. dollars after buying an additional 16,756 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s shares.

The Wall Street analyst weighs in

A number of equities research analysts have weighed in on FSLR shares. UBS Group raised their target price on shares of First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Jefferies Financial Group raised their target price on shares of First Solar from $209.50 to $211.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Morgan Stanley upped their target price on shares of First Solar from $248.00 to $331.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. Evercore ISI raised First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price objective on the stock in a report on Tuesday, April 23rd. Finally, Roth Mkm reissued a “buy” rating and issued a $320.00 target price (up from $230.00) on shares of First Solar in a report on Friday, May 31st. Four equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.36, according to MarketBeat.com.

See our latest report on FSLR

Insider activity at First Solar

In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of First Solar stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the sale, the chief accounting officer now owns 500 shares of the company’s stock, valued at approximately $108,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the transaction, the chief accounting officer now owns 500 shares in the company, valued at $108,250. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Alexander R. Bradley sold 16,051 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the transaction, the chief financial officer now owns 30,652 shares of the company’s stock, valued at $8,419,797.88. The disclosure for this sale can be found here. Insiders have sold 56,873 shares of company stock worth $13,949,855 over the last ninety days. Company insiders own 0.58% of the company’s shares.

Solar first trade up 1.8%

Shares of FSLR opened at $229.58 on Friday. The company has a fifty day moving average of $234.81 and a 200 day moving average of $198.87. The company has a market cap of $24.57 billion, a P/E ratio of 24.06, a PEG ratio of 0.37 and a beta of 1.44. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $306.77. The company has a quick ratio of 1.86, a current ratio of 2.23, and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR – Get Your Free Report ) last announced its quarterly earnings data on Tuesday, July 30th. The solar cell maker 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 during the quarter, compared to analysts’ expectations of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the business posted EPS of $1.85. As a group, equities research analysts expect that First Solar, Inc. to post 13.53 EPS for the current year.

The first solar company profile

(Free Report)

First Solar, Inc, a solar technology company, provides solar photovoltaic (PV) energy solutions in the United States, France, Japan, Chile and internationally. The company manufactures and sells photovoltaic solar modules with a thin-film semiconductor technology that provides a low-carbon alternative to conventional crystalline silicon solar photovoltaic modules.

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