Perkins Coie Trust Co Invests $108,000 in First Solar, Inc. (NASDAQ:FSLR)

Perkins Coie Trust Co acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 853 shares of the solar cell manufacturer’s stock, valued at approximately $108,000.

Several other institutional investors and hedge funds also recently modified their holdings of FSLR. Smartleaf Asset Management LLC increased its stake in shares of First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares during the period. Independent Advisor Alliance increased its stake in shares of First Solar by 3.1% during the fourth quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock worth $368,000 after purchasing an additional 63 shares during the period. Huntington National Bank increased its stake in shares of First Solar by 15.3% during the fourth quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer’s stock worth $90,000 after purchasing an additional 68 shares during the period. Evexia Wealth LLC increased its stake in shares of First Solar by 2.1% during the fourth quarter. Evexia Wealth LLC now owns 3,481 shares of the solar cell manufacturer’s stock worth $586,000 after purchasing an additional 70 shares during the period. Finally, Montag A & Associates Inc. increased its stake in shares of First Solar by 18.8% during the fourth quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer’s stock worth $84,000 after purchasing an additional 75 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at First Solar

In related news, insider Michael Koralewski sold 2,951 shares of the company’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $158.21, for a total transaction of $466,877.71. Following the sale, the insider now owns 11,369 shares in the company, valued at $1,798,689.49. This represents a 20.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick James Buehler sold 1,868 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $149.08, for a total value of $278,481.44. Following the sale, the insider now owns 5,998 shares in the company, valued at approximately $894,181.84. The trade was a 23.75% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,948 shares of company stock worth $2,704,927. Insiders own 0.48% of the company’s stock.

First Solar Trading Up 1.5%

NASDAQ FSLR opened at $166.35 on Friday. The business’s 50-day moving average price is $143.96 and its two-hundred day moving average price is $159.64. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $306.77. The firm has a market capitalization of $17.84 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 0.19 and a beta of 1.53. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $844.57 million during the quarter, compared to the consensus estimate of $863.11 million. During the same quarter last year, the firm posted $2.20 EPS. The company’s quarterly revenue was up 6.4% on a year-over-year basis. On average, analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FSLR shares. Susquehanna lowered their target price on First Solar from $223.00 to $217.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. Robert W. Baird lowered their price objective on First Solar from $267.00 to $240.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Bank of America lowered their price objective on First Solar from $236.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Wall Street Zen lowered First Solar from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. lowered their price objective on First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and an average price target of $227.94.

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.