9,602 Shares in First Solar, Inc. $FSLR Bought by Callahan Advisors LLC

Callahan Advisors LLC purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR) during the 4th quarter, Holdings Channel.com reports. The firm purchased 9,602 shares of the solar cell manufacturer’s stock, valued at approximately $2,508,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aventura Private Wealth LLC acquired a new stake in First Solar during the 4th quarter worth $25,000. Larson Financial Group LLC raised its stake in First Solar by 117.0% during the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in First Solar during the 4th quarter worth $30,000. Strategic Wealth Investment Group LLC acquired a new stake in First Solar during the 2nd quarter worth $26,000. Finally, Torren Management LLC acquired a new stake in First Solar during the 4th quarter worth $47,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FSLR shares. BMO Capital Markets lowered their price objective on shares of First Solar from $252.00 to $237.00 and set a “market perform” rating on the stock in a research report on Monday, April 20th. Robert W. Baird reissued a “neutral” rating and set a $205.00 price objective (down from $264.00) on shares of First Solar in a research report on Wednesday, February 25th. Needham & Company LLC raised their price objective on shares of First Solar from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. HSBC raised their price objective on shares of First Solar from $211.00 to $231.00 and gave the stock a “hold” rating in a research report on Tuesday, May 5th. Finally, Barclays lowered their price objective on shares of First Solar from $228.00 to $213.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average price target of $247.03.

First Solar Stock Up 7.3%

Shares of NASDAQ:FSLR opened at $237.86 on Thursday. The company has a market cap of $25.56 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.49 and a beta of 1.57. The firm’s 50-day simple moving average is $202.87 and its 200-day simple moving average is $231.14. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. First Solar, Inc. has a fifty-two week low of $135.50 and a fifty-two week high of $285.99.

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

Insiders Place Their Bets

In other news, CFO Alexander R. Bradley sold 498 shares of First Solar stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Patrick James Buehler sold 235 shares of First Solar stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $50,673.05. Following the completion of the sale, the insider directly owned 7,406 shares in the company, valued at approximately $1,596,955.78. The trade was a 3.08% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 92,430 shares of company stock valued at $18,670,055. Corporate insiders own 0.39% of the company’s stock.

About First Solar

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.