First Solar, Inc. $FSLR Shares Newly Acquired by Machina Capital S.A.S.

Machina Capital S.A.S. bought a new stake in First Solar, Inc. (NASDAQ:FSLR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,651 shares of the solar cell manufacturer’s stock, valued at approximately $990,000.

Other hedge funds have also recently made changes to their positions in the company. Gen Wealth Partners Inc bought a new stake in First Solar during the 3rd quarter worth approximately $30,000. Toth Financial Advisory Corp acquired a new stake in shares of First Solar during the third quarter worth $32,000. Clearstead Trust LLC acquired a new stake in shares of First Solar during the second quarter worth $34,000. Vega Investment Solutions bought a new position in shares of First Solar in the 2nd quarter worth about $40,000. Finally, Rakuten Securities Inc. bought a new stake in shares of First Solar during the 2nd quarter valued at about $44,000. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Price Performance

NASDAQ:FSLR opened at $172.30 on Friday. The company has a market cap of $18.52 billion, a P/E ratio of 9.97, a P/E/G ratio of 0.48 and a beta of 1.73. The stock’s fifty day moving average price is $185.28 and its two-hundred day moving average price is $213.73. First Solar, Inc. has a 1 year low of $165.86 and a 1 year high of $320.95.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, October 29th. The solar cell manufacturer reported $5.30 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.63. First Solar had a net margin of 37.12% and a return on equity of 18.33%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the business earned $4.24 earnings per share. The business’s quarterly revenue was down 22.8% on a year-over-year basis. On average, analysts expect that First Solar, Inc. will post 17.70 earnings per share for the current fiscal year.

Insider Activity at First Solar

In related news, CTO Markus Gloeckler sold 800 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $174.00, for a total transaction of $139,200.00. Following the transaction, the chief technology officer owned 5,042 shares in the company, valued at $877,308. The trade was a 13.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 that occurred on Monday, August 17th. The shares were sold at an average price of $222.95, for a total value of $28,314.65. Following the transaction, the executive vice president directly owned 2,018 shares of the company’s stock, valued at $449,913.10. The trade was a 5.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,727 shares of company stock worth $327,515 in the last 90 days. Company insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FSLR shares. Royal Bank Of Canada decreased their target price on First Solar from $236.00 to $232.00 and set an “outperform” rating for the company in a research note on Friday, October 30th. Needham & Company LLC dropped their price target on First Solar from $303.00 to $236.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Susquehanna restated a “positive” rating and set a $246.00 price target on shares of First Solar in a report on Friday, October 30th. Wells Fargo & Company reduced their price objective on shares of First Solar from $313.00 to $260.00 and set an “overweight” rating for the company in a research report on Friday, October 30th. Finally, Mizuho set a $328.00 price objective on First Solar in a report on Monday, November 2nd. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.00.

First Solar Company Profile

First Solar, Inc. is a U.S.-based solar technology company that designs and manufactures photovoltaic modules for utility-scale solar power projects. Its products use thin-film cadmium telluride (CdTe) technology, an alternative to the crystalline-silicon cells commonly used in solar panels. Founded in 1999, the company also provides services related to its modules, including recycling designed to recover and reuse materials at the end of a product’s useful life. First Solar serves customers in markets across the Americas, Europe, and Asia-Pacific.