OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys Shares of 11,300 First Solar, Inc. $FSLR

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

A number of other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in shares of First Solar by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 2,919,991 shares of the solar cell manufacturer’s stock valued at $761,396,000 after acquiring an additional 24,206 shares during the period. Viking Global Investors LP lifted its position in First Solar by 60.6% in the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after purchasing an additional 854,919 shares during the period. Amundi boosted its stake in First Solar by 9.4% during the 4th quarter. Amundi now owns 2,215,461 shares of the solar cell manufacturer’s stock valued at $578,791,000 after purchasing an additional 189,626 shares in the last quarter. Norges Bank bought a new position in First Solar during the 4th quarter valued at $392,040,000. Finally, Schroder Investment Management Group increased its position in shares of First Solar by 7.6% during the 4th quarter. Schroder Investment Management Group now owns 1,427,105 shares of the solar cell manufacturer’s stock valued at $372,803,000 after purchasing an additional 100,908 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other First Solar news, CTO Markus Gloeckler sold 420 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $90,564.60. Following the completion of the sale, the chief technology officer directly owned 10,896 shares of the company’s stock, valued at approximately $2,349,504.48. This represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Jason E. Dymbort sold 409 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $88,192.67. Following the completion of the transaction, the general counsel owned 10,409 shares of the company’s stock, valued at approximately $2,244,492.67. The trade was a 3.78% 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 quarter, insiders have sold 32,466 shares of company stock worth $8,014,105. 0.39% of the stock is owned by company insiders.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $257.70 on Friday. The stock’s fifty day simple moving average is $238.53 and its 200 day simple moving average is $233.45. The stock has a market capitalization of $27.69 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 0.57 and a beta of 1.71. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. First Solar, Inc. has a 52-week low of $139.26 and a 52-week high of $320.95.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $1.03 billion. During the same period in the prior year, the business posted $1.95 earnings per share. First Solar’s revenue was up 23.6% compared to the same quarter last year. As a group, sell-side analysts forecast that First Solar, Inc. will post 17.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FSLR shares. Citigroup cut their price objective on First Solar from $300.00 to $243.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. HSBC boosted their price target on shares of First Solar from $211.00 to $231.00 and gave the stock a “hold” rating in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft downgraded shares of First Solar from a “buy” rating to a “hold” rating and cut their price target for the company from $300.00 to $245.00 in a report on Wednesday, February 25th. Jefferies Financial Group reduced their price objective on shares of First Solar from $205.00 to $187.00 and set a “hold” rating for the company in a research report on Tuesday, April 7th. Finally, Argus boosted their target price on shares of First Solar from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average price target of $249.78.

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.