Westover Capital Advisors LLC Purchases Shares of 1,992 First Solar, Inc. (NASDAQ:FSLR)

Westover Capital Advisors LLC acquired a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,992 shares of the solar cell manufacturer’s stock, valued at approximately $343,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in FSLR. Estabrook Capital Management purchased a new position in First Solar in the 3rd quarter worth $29,000. Baystate Wealth Management LLC purchased a new position in shares of First Solar in the fourth quarter valued at about $29,000. Headinvest LLC purchased a new position in shares of First Solar in the third quarter valued at about $30,000. Rakuten Securities Inc. purchased a new position in shares of First Solar in the fourth quarter valued at about $34,000. Finally, USCF Advisers LLC increased its position in shares of First Solar by 100.0% in the fourth quarter. USCF Advisers LLC now owns 200 shares of the solar cell manufacturer’s stock valued at $34,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insider Buying and Selling

In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the completion of the transaction, the insider now directly owns 5,170 shares in the company, valued at $766,917.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Kuntal Kumar Verma sold 250 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $148.34, for a total value of $37,085.00. Following the completion of the transaction, the insider now owns 5,170 shares in the company, valued at approximately $766,917.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Georges Antoun sold 16,667 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the sale, the insider now directly owns 42,041 shares in the company, valued at $6,539,477.55. The disclosure for this sale can be found here. Insiders sold 26,620 shares of company stock worth $4,269,540 in the last three months. 0.58% of the stock is owned by insiders.

First Solar Trading Up 6.1 %

Shares of NASDAQ:FSLR traded up $11.04 during trading hours on Friday, hitting $191.55. 3,006,742 shares of the company’s stock traded hands, compared to its average volume of 2,090,675. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. The firm has a market capitalization of $20.50 billion, a P/E ratio of 19.79, a price-to-earnings-growth ratio of 0.30 and a beta of 1.37. The business has a fifty day moving average price of $165.60 and a 200-day moving average price of $158.00. First Solar, Inc. has a 1 year low of $129.21 and a 1 year high of $232.00.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.30. The firm had revenue of $794.10 million during the quarter, compared to analyst estimates of $718.19 million. First Solar had a return on equity of 16.60% and a net margin of 28.75%. First Solar’s quarterly revenue was up 44.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 earnings per share. Equities analysts expect that First Solar, Inc. will post 13.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FSLR shares. Oppenheimer boosted their price objective on shares of First Solar from $269.00 to $271.00 and gave the company an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of First Solar from $237.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday. Janney Montgomery Scott initiated coverage on shares of First Solar in a research report on Friday, April 12th. They set a “buy” rating and a $236.00 price target on the stock. Wells Fargo & Company upgraded shares of First Solar from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $187.00 to $250.00 in a report on Friday, April 19th. Finally, Susquehanna restated a “positive” rating and set a $258.00 price objective on shares of First Solar in a research report on Friday, April 5th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $238.16.

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.