Goelzer Investment Management Inc. Sells 100 Shares of First Solar, Inc. (NASDAQ:FSLR)

Goelzer Investment Management Inc. reduced its stake in First Solar, Inc. (NASDAQ:FSLR) by 3.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,569 shares of the solar cell manufacturer’s stock after selling 100 shares during the quarter. Goelzer Investment Management Inc.’s holdings in First Solar were worth $325,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in FSLR. Garde Capital Inc. purchased a new position in First Solar in the 1st quarter worth approximately $25,000. Smartleaf Asset Management LLC raised its holdings in First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after acquiring an additional 63 shares during the last quarter. Princeton Global Asset Management LLC purchased a new position in First Solar in the 1st quarter worth approximately $51,000. Banque Transatlantique SA purchased a new position in First Solar in the 4th quarter worth approximately $53,000. Finally, CoreFirst Bank & Trust purchased a new position in First Solar in the 4th quarter worth approximately $54,000. 92.08% of the stock is owned by institutional investors.

Insider Buying and Selling at First Solar

In other First Solar news, insider Michael Koralewski sold 2,951 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $158.21, for a total transaction of $466,877.71. Following the completion of the transaction, the insider now owns 11,369 shares of the company’s stock, valued at $1,798,689.49. This represents a 20.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Markus Gloeckler sold 9,557 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the transaction, the chief technology officer now directly owns 8,037 shares of the company’s stock, valued at $1,246,136.85. This trade represents a 54.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,376 shares of company stock valued at $2,227,172 in the last 90 days. Insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FSLR shares. TD Cowen decreased their price objective on shares of First Solar from $275.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. decreased their price objective on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Citigroup decreased their target price on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company decreased their target price on shares of First Solar from $191.00 to $177.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Finally, Morgan Stanley set a $223.00 target price on shares of First Solar and gave the company an “overweight” rating in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $229.19.

First Solar Trading Down 0.2%

Shares of First Solar stock opened at $144.67 on Tuesday. The company has a market capitalization of $15.51 billion, a P/E ratio of 12.30, a P/E/G ratio of 0.29 and a beta of 1.53. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.39 and a current ratio of 1.93. The company has a fifty day moving average of $150.52 and a 200 day moving average of $156.28. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $268.12.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.55). The firm had revenue of $844.57 million during the quarter, compared to the consensus estimate of $863.11 million. First Solar had a return on equity of 16.32% and a net margin of 29.72%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 EPS. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

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.