Gulf International Bank UK Ltd Sells 396 Shares of First Solar, Inc. (NASDAQ:FSLR)

Gulf International Bank UK Ltd lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 4.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,023 shares of the solar cell manufacturer’s stock after selling 396 shares during the quarter. Gulf International Bank UK Ltd’s holdings in First Solar were worth $2,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its position in First Solar by 14.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock valued at $89,000 after acquiring an additional 45 shares during the period. Davis Investment Partners LLC increased its holdings in First Solar by 0.6% in the third quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock valued at $1,805,000 after purchasing an additional 46 shares during the period. Oregon Public Employees Retirement Fund raised its position in First Solar by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock worth $2,068,000 after purchasing an additional 49 shares during the last quarter. Cambridge Trust Co. lifted its holdings in First Solar by 1.6% during the 1st quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock worth $546,000 after buying an additional 50 shares during the period. Finally, Gilman Hill Asset Management LLC grew its position in shares of First Solar by 2.8% in the 3rd quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock valued at $455,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Morgan Stanley lowered their price objective on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Jefferies Financial Group dropped their price target on shares of First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Bank of America lowered their target price on shares of First Solar from $321.00 to $269.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Roth Mkm decreased their price target on First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Finally, Guggenheim dropped their price objective on First Solar from $368.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $281.13.

Insider Transactions at First Solar

In related news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares in the company, valued at approximately $769,896. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Byron Michael Jeffers sold 500 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Patrick James Buehler sold 8,619 shares of the 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 owns 3,468 shares of the company’s stock, valued at $769,896. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

First Solar Trading Down 10.1 %

Shares of FSLR stock opened at $194.02 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company has a market capitalization of $20.77 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 0.37 and a beta of 1.48. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $306.77. The company has a 50-day simple moving average of $220.87 and a two-hundred day simple moving average of $225.16.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). The business had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.50 earnings per share. Research analysts anticipate that First Solar, Inc. will post 13.12 EPS for the current fiscal year.

First Solar 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.