Pinkerton Wealth LLC Purchases New Holdings in First Solar, Inc. $FSLR

Pinkerton Wealth LLC purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,402 shares of the solar cell manufacturer’s stock, valued at approximately $3,501,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Aventura Private Wealth LLC acquired a new position in First Solar in the 4th quarter valued at about $25,000. Strategic Wealth Investment Group LLC acquired a new position in First Solar in the 2nd quarter valued at about $26,000. Larson Financial Group LLC increased its position in First Solar by 117.0% in the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock valued at $27,000 after acquiring an additional 55 shares during the period. Elyxium Wealth LLC acquired a new position in First Solar in the 4th quarter valued at about $30,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in First Solar in the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on FSLR shares. Susquehanna dropped their price target on First Solar from $280.00 to $250.00 and set a “positive” rating on the stock in a research report on Thursday, April 9th. DZ Bank upgraded First Solar to a “strong sell” rating in a research report on Thursday, February 26th. Robert W. Baird restated a “neutral” rating and issued a $205.00 price target (down from $264.00) on shares of First Solar in a research report on Wednesday, February 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Solar in a report on Friday, March 27th. Finally, Evercore lifted their price objective on First Solar from $212.00 to $219.00 in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, First Solar presently has an average rating of “Moderate Buy” and a consensus target price of $247.03.

First Solar Price Performance

Shares of FSLR opened at $237.86 on Thursday. First Solar, Inc. has a twelve month low of $135.50 and a twelve month high of $285.99. The stock’s 50 day moving average is $202.87 and its two-hundred day moving average is $231.14. The firm has a market capitalization of $25.56 billion, a PE ratio of 15.37, a P/E/G ratio of 0.49 and a beta of 1.57. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the company earned $1.95 EPS. The firm’s revenue for the quarter was up 23.6% compared to the same quarter last year. Research analysts anticipate that First Solar, Inc. will post 17.64 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Alexander R. Bradley sold 498 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $107,383.74. Following the sale, the chief financial officer owned 30,712 shares of the company’s stock, valued at $6,622,428.56. The trade was a 1.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mark R. Widmar sold 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $240.02, for a total value of $312,026.00. Following the sale, the chief executive officer directly owned 93,848 shares in the company, valued at $22,525,396.96. This trade represents a 1.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 92,430 shares of company stock worth $18,670,055 in the last three months. Company insiders own 0.39% of the company’s stock.

First Solar Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin?film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility?scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.