C WorldWide Group Holding A S Makes New Investment in First Solar, Inc. $FSLR

C WorldWide Group Holding A S bought a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the second quarter, Holdings Channel reports. The fund bought 31,495 shares of the solar cell manufacturer’s stock, valued at approximately $7,432,000.

Other large investors have also recently made changes to their positions in the company. Commonwealth Retirement Investments LLC bought a new position in First Solar during the 4th quarter valued at approximately $26,000. Reflection Asset Management bought a new stake in First Solar in the fourth quarter worth $26,000. Strategic Wealth Investment Group LLC bought a new stake in First Solar in the second quarter worth $26,000. Larson Financial Group LLC grew its stake in shares of First Solar by 117.0% in the fourth 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 during the last quarter. Finally, Elyxium Wealth LLC bought a new position in shares of First Solar during the fourth quarter valued at $30,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Stock Performance

FSLR opened at $213.25 on Wednesday. The stock’s 50 day moving average price is $217.75 and its 200-day moving average price is $222.29. First Solar, Inc. has a one year low of $182.99 and a one year high of $320.95. The stock has a market cap of $22.91 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 0.54 and a beta of 1.74.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, July 30th. The solar cell manufacturer reported $3.92 EPS for the quarter, beating the consensus estimate of $2.90 by $1.02. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. First Solar had a return on equity of 18.02% and a net margin of 32.47%.First Solar’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.18 EPS. As a group, analysts predict that First Solar, Inc. will post 17.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. BMO Capital Markets cut shares of First Solar from a “hold” rating to a “market perform” rating in a research note on Thursday, August 27th. Raymond James Financial started coverage on shares of First Solar in a report on Thursday, August 27th. They issued a “market perform” rating for the company. Roth Capital reiterated a “buy” rating and set a $300.00 price target on shares of First Solar in a report on Friday, July 24th. Wells Fargo & Company boosted their price objective on shares of First Solar from $300.00 to $313.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Citigroup lowered First Solar from a “buy” rating to a “hold” rating in a report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $266.27.

Insider Activity at First Solar

In other First Solar news, CTO Markus Gloeckler sold 3,425 shares of First Solar stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $218.95, for a total transaction of $749,903.75. Following the completion of the sale, the chief technology officer directly owned 7,471 shares of the company’s stock, valued at $1,635,775.45. The trade was a 31.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Samantha L. Sloan sold 127 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $222.95, for a total value of $28,314.65. Following the completion of the sale, the executive vice president owned 2,018 shares of the company’s stock, valued at $449,913.10. This represents a 5.92% decrease in their ownership of the stock. 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. In the last three months, insiders sold 15,881 shares of company stock valued at $3,617,086. 0.39% of the stock is owned by insiders.

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.