GAMMA Investing LLC Takes $167,000 Position in First Solar, Inc. (NASDAQ:FSLR)

GAMMA Investing LLC purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 968 shares of the solar cell manufacturer’s stock, valued at approximately $167,000.

Other large investors have also modified their holdings of the company. First Pacific Financial acquired a new position in shares of First Solar in the 3rd quarter valued at $27,000. Estabrook Capital Management acquired a new position in shares of First Solar in the 3rd quarter valued at $29,000. Baystate Wealth Management LLC acquired a new position in shares of First Solar in the 4th quarter valued at $29,000. Headinvest LLC acquired a new position in shares of First Solar in the 3rd quarter valued at $30,000. Finally, Rakuten Securities Inc. acquired a new position in shares of First Solar in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. DZ Bank assumed coverage on First Solar in a report on Wednesday, April 17th. They issued a “buy” rating and a $205.00 price objective on the stock. Oppenheimer reiterated an “outperform” rating and issued a $269.00 price objective on shares of First Solar in a report on Wednesday, April 17th. Bank of America boosted their price objective on First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Mizuho boosted their price objective on First Solar from $188.00 to $196.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. Finally, Wells Fargo & Company upgraded First Solar from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $187.00 to $250.00 in a report on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.36.

Insider Activity at First Solar

In related news, Director R Craig Kennedy sold 1,500 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the sale, the director now directly owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director R Craig Kennedy sold 1,500 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the sale, the director now directly owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Markus Gloeckler sold 679 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $160.00, for a total value of $108,640.00. Following the sale, the chief technology officer now directly owns 14,473 shares of the company’s stock, valued at $2,315,680. The disclosure for this sale can be found here. Insiders sold a total of 26,620 shares of company stock valued at $4,269,540 in the last three months. 0.58% of the stock is currently owned by company insiders.

First Solar Trading Up 2.1 %

FSLR opened at $178.73 on Friday. First Solar, Inc. has a one year low of $129.21 and a one year high of $232.00. The company has a market cap of $19.13 billion, a P/E ratio of 23.09, a PEG ratio of 0.30 and a beta of 1.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55. The business’s 50-day simple moving average is $163.40 and its 200-day simple moving average is $157.20.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.06. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.31 billion. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The business’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) EPS. As a group, equities research analysts expect that First Solar, Inc. will post 13.55 EPS for the current fiscal year.

About First Solar

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.