Intellectus Partners LLC Decreases Holdings in First Solar, Inc. (NASDAQ:FSLR)

Intellectus Partners LLC cut its holdings in First Solar, Inc. (NASDAQ:FSLR) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,456 shares of the solar cell manufacturer’s stock after selling 100 shares during the period. Intellectus Partners LLC’s holdings in First Solar were worth $595,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. First Pacific Financial purchased a new position in shares of First Solar in the third quarter valued at about $27,000. Estabrook Capital Management bought a new position in shares of First Solar during the third quarter valued at approximately $29,000. Baystate Wealth Management LLC purchased a new position in First Solar during the 4th quarter valued at $29,000. Headinvest LLC bought a new position in First Solar in the 3rd quarter worth $30,000. Finally, Rakuten Securities Inc. bought a new position in First Solar in the fourth quarter worth about $34,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Price Performance

Shares of FSLR opened at $178.73 on Monday. The stock has a market capitalization of $19.13 billion, a PE ratio of 23.09, a PEG ratio of 0.31 and a beta of 1.41. The company has a 50 day moving average price of $163.40 and a 200-day moving average price of $157.28. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55. First Solar, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $232.00.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.06. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.31 billion. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.07) EPS. Equities analysts predict that First Solar, Inc. will post 13.55 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00. Following the completion of the transaction, the director now directly owns 15,641 shares in the company, valued at approximately $2,467,524.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the transaction, the insider now owns 42,041 shares in the company, valued at $6,539,477.55. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director R Craig Kennedy sold 1,500 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the sale, the director now owns 15,641 shares in the company, valued at $2,467,524.16. The disclosure for this sale can be found here. Insiders sold a total of 26,620 shares of company stock worth $4,269,540 in the last three months. 0.58% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Bank of America lifted their price target on shares of First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Susquehanna reissued a “positive” rating and issued a $258.00 target price on shares of First Solar in a report on Friday, April 5th. Janney Montgomery Scott began coverage on shares of First Solar in a report on Friday, April 12th. They issued a “buy” rating and a $236.00 target price for the company. DZ Bank initiated coverage on shares of First Solar in a report on Wednesday, April 17th. They set a “buy” rating and a $205.00 price target on the stock. Finally, Barclays upped their price target on First Solar from $224.00 to $227.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Three research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $233.92.

First Solar Profile

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.