OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Invests $2.95 Million in First Solar, Inc. $FSLR

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 11,300 shares of the solar cell manufacturer’s stock, valued at approximately $2,952,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of FSLR. Woodline Partners LP lifted its stake in shares of First Solar by 40.7% in the 1st quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock valued at $1,143,000 after acquiring an additional 2,615 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in First Solar by 50.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 516 shares of the solar cell manufacturer’s stock valued at $85,000 after purchasing an additional 174 shares during the last quarter. Brown Advisory Inc. raised its position in First Solar by 84.3% during the 2nd quarter. Brown Advisory Inc. now owns 4,529 shares of the solar cell manufacturer’s stock valued at $750,000 after purchasing an additional 2,072 shares during the last quarter. Cerity Partners LLC bought a new position in First Solar during the 2nd quarter valued at approximately $494,000. Finally, AXA S.A. raised its position in First Solar by 6.3% during the 2nd quarter. AXA S.A. now owns 18,862 shares of the solar cell manufacturer’s stock valued at $3,122,000 after purchasing an additional 1,115 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

First Solar stock opened at $273.51 on Tuesday. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $29.39 billion, a P/E ratio of 17.67, a PEG ratio of 0.59 and a beta of 1.70. The stock’s 50 day moving average is $233.52 and its 200 day moving average is $233.56. First Solar, Inc. has a twelve month low of $135.50 and a twelve month high of $320.95.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.35. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The firm’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.95 EPS. On average, equities research analysts predict that First Solar, Inc. will post 17.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Markus Gloeckler sold 420 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total value of $90,564.60. Following the sale, the chief technology officer owned 10,896 shares in the company, valued at $2,349,504.48. This represents a 3.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kuntal Kumar Verma sold 582 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $250.00, for a total value of $145,500.00. Following the sale, the insider owned 4,967 shares in the company, valued at approximately $1,241,750. This represents a 10.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,466 shares of company stock worth $8,014,105 over the last three months. Corporate insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. HSBC upped their price target on First Solar from $211.00 to $231.00 and gave the company a “hold” rating in a research report on Tuesday, May 5th. The Goldman Sachs Group upped their price target on First Solar from $300.00 to $310.00 in a research report on Friday, May 1st. Weiss Ratings lowered First Solar from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday. Glj Research lowered First Solar from a “buy” rating to a “hold” rating and lowered their price target for the company from $314.43 to $207.82 in a research report on Wednesday, March 4th. Finally, Jefferies Financial Group reduced their target price on First Solar from $205.00 to $187.00 and set a “hold” rating on the stock in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $250.99.

First Solar Company Profile

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.