Lmcg Investments LLC Purchases New Stake in First Solar, Inc. (NASDAQ:FSLR)

Lmcg Investments LLC acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,020 shares of the solar cell manufacturer’s stock, valued at approximately $230,000.

Several other large investors also recently made changes to their positions in the business. Oregon Public Employees Retirement Fund boosted 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 period. Cambridge Trust Co. boosted its position in shares of First Solar by 1.6% in the first 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. Great Diamond Partners LLC grew its stake in shares of First Solar by 3.8% in the first quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer’s stock valued at $247,000 after buying an additional 53 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of First Solar by 24.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the solar cell manufacturer’s stock valued at $70,000 after buying an additional 62 shares during the period. Finally, Harbor Investment Advisory LLC lifted its position in First Solar by 36.0% during the 1st quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer’s stock worth $46,000 after acquiring an additional 72 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of FSLR opened at $239.98 on Wednesday. The firm has a fifty day moving average of $221.19 and a 200-day moving average of $211.13. The company has a market cap of $25.69 billion, a price-to-earnings ratio of 25.16, 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. First Solar, Inc. has a 1 year low of $129.21 and a 1 year high of $306.77.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $939.71 million. During the same period in the previous year, the business posted $1.85 EPS. First Solar’s revenue was up 24.6% on a year-over-year basis. As a group, equities analysts anticipate that First Solar, Inc. will post 13.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of First Solar from $248.00 to $331.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. Roth Mkm reiterated a “buy” rating and issued a $320.00 price objective (up previously from $230.00) on shares of First Solar in a report on Friday, May 31st. William Blair initiated coverage on First Solar in a research note on Thursday, August 29th. They set a “market perform” rating for the company. Susquehanna boosted their price target on First Solar from $258.00 to $285.00 and gave the stock a “positive” rating in a research note on Wednesday, July 3rd. Finally, BMO Capital Markets lowered their price objective on First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $283.46.

Insider Buying and Selling

In other news, CAO Byron Michael Jeffers sold 1,766 shares of the 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 completion of the transaction, the chief accounting officer now owns 500 shares of the company’s stock, valued at $108,250. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the company’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 directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Byron Michael Jeffers sold 1,766 shares of First Solar stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the transaction, the chief accounting officer now directly owns 500 shares in the company, valued at approximately $108,250. The disclosure for this sale can be found here. Insiders sold 12,506 shares of company stock valued at $2,827,217 in the last three months. 0.58% of the stock is currently owned by corporate insiders.

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.