Courier Capital LLC Lowers Position in First Solar, Inc. (NASDAQ:FSLR)

Courier Capital LLC trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,356 shares of the solar cell manufacturer’s stock after selling 247 shares during the period. Courier Capital LLC’s holdings in First Solar were worth $3,331,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FSLR. Ballentine Partners LLC grew its stake in First Solar by 5.9% during the first quarter. Ballentine Partners LLC now owns 1,945 shares of the solar cell manufacturer’s stock worth $328,000 after buying an additional 109 shares during the period. Harbor Investment Advisory LLC grew its stake in First Solar by 36.0% during the first quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer’s stock worth $46,000 after buying an additional 72 shares during the period. Riverview Trust Co purchased a new stake in First Solar during the first quarter worth approximately $32,000. Brookstone Capital Management purchased a new stake in First Solar during the first quarter worth approximately $244,000. Finally, Viking Fund Management LLC purchased a new stake in First Solar during the first quarter worth approximately $760,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Stock Performance

Shares of FSLR stock traded down $7.12 during trading hours on Wednesday, reaching $194.28. The stock had a trading volume of 1,706,023 shares, compared to its average volume of 2,382,596. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $306.77. The firm has a 50-day simple moving average of $225.93 and a 200-day simple moving average of $223.58. The firm has a market capitalization of $20.80 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 0.38 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data 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. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.85 EPS. As a group, equities analysts forecast that First Solar, Inc. will post 13.53 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on FSLR. 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. Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets decreased their target price on shares of First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Oppenheimer upped their target price on shares of First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of First Solar from $215.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Three analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $288.46.

Insider Activity

In other news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction dated 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 owns 3,468 shares in the company, valued at approximately $769,896. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the firm’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 transaction, the insider now directly owns 3,468 shares in the company, valued at $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,885 shares of company stock worth $2,405,757. Corporate 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.