CacheTech Inc. Makes New Investment in First Solar, Inc. $FSLR

CacheTech Inc. acquired a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 16,679 shares of the solar cell manufacturer’s stock, valued at approximately $3,290,000.

Several other large investors have also made changes to their positions in the business. Aventura Private Wealth LLC acquired a new position in First Solar during the fourth quarter valued at $25,000. Commonwealth Retirement Investments LLC acquired a new stake in First Solar during the 4th quarter worth about $26,000. Reflection Asset Management acquired a new stake in First Solar during the 4th quarter worth about $26,000. Strategic Wealth Investment Group LLC purchased a new position in shares of First Solar during the 2nd quarter valued at about $26,000. Finally, Larson Financial Group LLC raised its stake in shares of First Solar by 117.0% during the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock valued at $27,000 after buying an additional 55 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at First Solar

In other First Solar news, insider Caroline Stockdale sold 10,628 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $275.60, for a total transaction of $2,929,076.80. Following the completion of the sale, the insider directly owned 23,792 shares in the company, valued at approximately $6,557,075.20. The trade was a 30.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark R. Widmar sold 4,815 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $247.43, for a total value of $1,191,375.45. Following the transaction, the chief executive officer directly owned 89,033 shares of the company’s stock, valued at $22,029,435.19. The trade was a 5.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 31,893 shares of company stock worth $7,893,775 in the last quarter. Corporate insiders own 0.39% of the company’s stock.

First Solar Stock Performance

FSLR opened at $206.05 on Wednesday. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. The company has a market cap of $22.14 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 0.46 and a beta of 1.73. First Solar, Inc. has a 52-week low of $171.99 and a 52-week high of $320.95. The firm’s fifty day simple moving average is $250.23 and its two-hundred day simple moving average is $227.94.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company earned $1.95 earnings per share. The company’s quarterly revenue was up 23.6% on a year-over-year basis. Equities analysts anticipate that First Solar, Inc. will post 17.54 earnings per share for the current fiscal year.

Key Stories Impacting First Solar

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

• Positive Sentiment: First Solar continues to draw attention from investors and analysts because of its growth in U.S. solar manufacturing and exposure to domestic solar demand. Article Title
• Neutral Sentiment: Several law firms issued reminder notices about the pending securities class action and the August 24 deadline for investors to seek lead-plaintiff status. Article Title
• Neutral Sentiment: Pomerantz announced that a class action has been filed against First Solar and certain officers, alleging securities-law violations tied to the class period. Article Title
• Negative Sentiment: The lawsuit and repeated legal notices highlight alleged misrepresentations about module production underutilization and the challenges of onshoring operations, which can weigh on investor sentiment and raise litigation risk. Article Title

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citigroup lowered their target price on First Solar from $300.00 to $243.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Wells Fargo & Company lifted their price target on First Solar from $255.00 to $320.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Jefferies Financial Group reissued a “hold” rating and issued a $207.00 price target on shares of First Solar in a report on Tuesday. Morgan Stanley upped their price objective on First Solar from $230.00 to $245.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, TD Cowen reaffirmed a “buy” rating on shares of First Solar in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $257.10.

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.