Buffington Mohr McNeal Acquires 314 Shares of First Solar, Inc. (NASDAQ:FSLR)

Buffington Mohr McNeal grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 11.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,119 shares of the solar cell manufacturer’s stock after buying an additional 314 shares during the period. Buffington Mohr McNeal’s holdings in First Solar were worth $537,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of FSLR. First Pacific Financial purchased a new position in shares of First Solar in the 3rd quarter worth about $27,000. Estabrook Capital Management purchased a new position in shares of First Solar in the 3rd quarter worth about $29,000. Baystate Wealth Management LLC purchased a new position in First Solar in the 4th quarter worth about $29,000. Headinvest LLC purchased a new position in First Solar in the 3rd quarter worth about $30,000. Finally, Harbor Investment Advisory LLC purchased a new position in First Solar in the 3rd quarter worth about $32,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of NASDAQ:FSLR traded down $1.70 during mid-day trading on Tuesday, reaching $174.26. 1,075,022 shares of the company traded hands, compared to its average volume of 2,055,683. The company’s 50 day moving average price is $158.95 and its 200-day moving average price is $155.69. The firm has a market cap of $18.65 billion, a PE ratio of 22.73, a PEG ratio of 0.31 and a beta of 1.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $232.00.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.06. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the company posted ($0.07) EPS. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, equities analysts expect that First Solar, Inc. will post 13.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FSLR. Mizuho boosted their target price on First Solar from $188.00 to $196.00 and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Wells Fargo & Company lowered First Solar from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $215.00 to $187.00 in a research report on Monday, January 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $195.00 target price on shares of First Solar in a research report on Wednesday, February 28th. Susquehanna reissued a “positive” rating and issued a $258.00 target price on shares of First Solar in a research report on Friday, April 5th. Finally, Oppenheimer boosted their target price on First Solar from $268.00 to $269.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and an average target price of $227.96.

Insiders Place Their Bets

In other First Solar news, insider Georges Antoun sold 2,400 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total value of $422,400.00. Following the completion of the transaction, the insider now directly owns 37,412 shares in the company, valued at approximately $6,584,512. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Markus Gloeckler sold 679 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $160.00, for a total transaction of $108,640.00. Following the completion of the transaction, the chief technology officer now directly owns 14,473 shares in the company, valued at approximately $2,315,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Georges Antoun sold 2,400 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $176.00, for a total value of $422,400.00. Following the transaction, the insider now owns 37,412 shares of the company’s stock, valued at $6,584,512. The disclosure for this sale can be found here. Insiders sold 26,620 shares of company stock worth $4,269,540 in the last three months. 0.58% of the stock is owned by company insiders.

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.