International Assets Investment Management LLC Acquires 216,640 Shares of First Solar, Inc. (NASDAQ:FSLR)

International Assets Investment Management LLC grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 24,844.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,512 shares of the solar cell manufacturer’s stock after buying an additional 216,640 shares during the quarter. International Assets Investment Management LLC owned approximately 0.20% of First Solar worth $542,560,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FSLR. Dixon Mitchell Investment Counsel Inc. bought a new stake in First Solar during the 1st quarter worth about $25,000. AlphaMark Advisors LLC bought a new stake in First Solar during the 3rd quarter worth about $25,000. Atlas Capital Advisors LLC lifted its position in First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after buying an additional 111 shares in the last quarter. Riverview Trust Co bought a new stake in First Solar during the 1st quarter worth about $32,000. Finally, Summit Securities Group LLC acquired a new position in shares of First Solar during the 2nd quarter worth about $36,000. 92.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $200.00 to $254.00 in a research note on Tuesday. UBS Group boosted their price objective on shares of First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Robert W. Baird lowered their price objective on shares of First Solar from $344.00 to $307.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. BMO Capital Markets lowered their price objective on shares of First Solar from $311.00 to $286.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of First Solar from $262.00 to $282.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $288.46.

First Solar Stock Performance

Shares of NASDAQ:FSLR opened at $192.41 on Thursday. The company’s 50 day moving average price is $225.27 and its two-hundred day moving average price is $223.37. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $306.77. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. The firm has a market cap of $20.60 billion, a PE ratio of 20.17, a PEG ratio of 0.38 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping 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 company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. During the same quarter in the prior year, the firm posted $1.85 EPS. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. Equities research analysts predict that First Solar, Inc. will post 13.53 earnings per share for the current year.

Insider Transactions at First Solar

In other news, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction that occurred on 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 directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,885 shares of company stock valued at $2,405,757. Company insiders own 0.58% of the company’s stock.

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.