15,655 Shares in First Solar, Inc. $FSLR Purchased by OP Asset Management Ltd

OP Asset Management Ltd bought a new position in shares of First Solar, Inc. (NASDAQ:FSLR) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 15,655 shares of the solar cell manufacturer’s stock, valued at approximately $3,088,000.

Other hedge funds have also made changes to their positions in the company. Aventura Private Wealth LLC purchased a new stake in shares of First Solar during the 4th quarter valued at approximately $25,000. Reflection Asset Management purchased a new position in First Solar in the fourth quarter worth approximately $26,000. Commonwealth Retirement Investments LLC acquired a new stake in First Solar during the fourth quarter worth $26,000. Larson Financial Group LLC raised its position in First Solar by 117.0% in the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock valued at $27,000 after purchasing an additional 55 shares during the period. Finally, Elyxium Wealth LLC purchased a new stake in First Solar in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar News Roundup

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

• Negative Sentiment: Several firms, including Howard G. Smith, Bronstein Gewirtz & Grossman, Rosen Law, Pomerantz, Portnoy, and the Schall Law Firm, announced or promoted class-action cases tied to First Solar, increasing legal overhang and headline risk. Article Title
• Negative Sentiment: Multiple securities-fraud investigations were also launched or reiterated by plaintiff firms, suggesting investors are actively probing whether earlier company disclosures may have been misleading. Article Title
• Neutral Sentiment: One Zacks item called First Solar a strong growth stock, which is supportive on fundamentals, but it appears to be a generic rating piece rather than a new company-specific catalyst. Article Title

First Solar Stock Performance

Shares of FSLR stock opened at $239.07 on Friday. The company has a market cap of $25.69 billion, a P/E ratio of 15.44, a PEG ratio of 0.53 and a beta of 1.71. The firm has a fifty day moving average price of $243.56 and a 200 day moving average price of $233.11. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. First Solar, Inc. has a 12 month low of $149.54 and a 12 month high of $320.95.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the business earned $1.95 EPS. First Solar’s revenue for the quarter was up 23.6% on a year-over-year basis. Sell-side analysts predict that First Solar, Inc. will post 17.61 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In other news, insider Kuntal Kumar Verma sold 582 shares of the company’s 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 completion of the transaction, the insider owned 4,967 shares in the company, valued at approximately $1,241,750. This represents a 10.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alexander R. Bradley sold 498 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $107,383.74. Following the completion of the transaction, the chief financial officer directly owned 30,712 shares in the company, valued at $6,622,428.56. This trade represents a 1.60% 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. Insiders sold a total of 32,466 shares of company stock valued at $8,014,105 over the last three months. 0.39% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on FSLR shares. UBS Group increased their price target on First Solar from $290.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Citigroup reduced their price target on shares of First Solar from $300.00 to $243.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. The Goldman Sachs Group increased their price objective on shares of First Solar from $300.00 to $310.00 in a research report on Friday, May 1st. Freedom Capital upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Finally, Guggenheim boosted their target price on First Solar from $269.00 to $279.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus 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.