Legato Capital Management LLC Reduces Stock Holdings in First Solar, Inc. $FSLR

Legato Capital Management LLC reduced its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 24.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,175 shares of the solar cell manufacturer’s stock after selling 4,825 shares during the quarter. Legato Capital Management LLC’s holdings in First Solar were worth $3,964,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of FSLR. Woodline Partners LP raised its holdings in shares of First Solar by 40.7% during the 1st quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock valued at $1,143,000 after buying an additional 2,615 shares during the period. EverSource Wealth Advisors LLC grew its stake 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 in the last quarter. Brown Advisory Inc. grew its stake 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 in the last quarter. Cerity Partners LLC acquired a new stake in First Solar during the 2nd quarter valued at approximately $494,000. Finally, AXA S.A. grew its stake 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 in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Trading Up 3.6%

NASDAQ:FSLR opened at $257.85 on Friday. First Solar, Inc. has a 12-month low of $135.50 and a 12-month high of $285.99. The firm has a market capitalization of $27.71 billion, a P/E ratio of 16.66, a P/E/G ratio of 0.55 and a beta of 1.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15. The business has a 50 day simple moving average of $205.04 and a 200 day simple moving average of $231.20.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm posted $1.95 EPS. The business’s revenue for the quarter was up 23.6% compared to the same quarter last year. Equities research analysts predict that First Solar, Inc. will post 17.64 EPS for the current year.

Insider Buying and Selling at First Solar

In related news, insider Kuntal Kumar Verma sold 3,426 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $195.93, for a total transaction of $671,256.18. Following the completion of the transaction, the insider owned 8,334 shares in the company, valued at $1,632,880.62. The trade was a 29.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Alexander R. Bradley sold 14,106 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $199.97, for a total value of $2,820,776.82. Following the transaction, the chief financial officer owned 30,000 shares of the company’s stock, valued at $5,999,100. This represents a 31.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 97,827 shares of company stock worth $20,006,930. 0.39% of the stock is owned by company insiders.

Trending Headlines about First Solar

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: First Solar announced a partnership with GameChange Solar to support wider use of its domestically manufactured thin-film modules in India, a move that could improve demand visibility and reduce supply-chain or compliance concerns. Why First Solar (FSLR) Stock Is Trading Up Today
• Positive Sentiment: Guggenheim raised its price target on First Solar to $279 from $269 and reiterated a Buy rating, signaling continued analyst confidence in the stock’s upside potential. MarketScreener

Analysts Set New Price Targets

FSLR has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price objective on First Solar from $275.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 28th. BMO Capital Markets lowered their price objective on First Solar from $252.00 to $237.00 and set a “market perform” rating for the company in a research note on Monday, April 20th. Jefferies Financial Group lowered their price objective on First Solar from $205.00 to $187.00 and set a “hold” rating for the company in a research note on Tuesday, April 7th. Susquehanna lowered their price target on First Solar from $280.00 to $250.00 and set a “positive” rating for the company in a report on Thursday, April 9th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of First Solar in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $247.40.

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.