Olde Wealth Management LLC Buys Shares of 2,719 First Solar, Inc. $FSLR

Olde Wealth Management LLC purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 2,719 shares of the solar cell manufacturer’s stock, valued at approximately $600,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in FSLR. Vanguard Group Inc. raised its position in shares of First Solar by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer’s stock valued at $3,026,108,000 after buying an additional 464,130 shares during the period. State Street Corp grew its position in First Solar by 2.1% in the second quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock worth $881,680,000 after acquiring an additional 111,927 shares during the period. Geode Capital Management LLC grew its position in First Solar by 0.9% in the second quarter. Geode Capital Management LLC now owns 2,857,848 shares of the solar cell manufacturer’s stock worth $471,927,000 after acquiring an additional 26,476 shares during the period. Viking Global Investors LP increased its stake in First Solar by 60.6% during 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 acquiring an additional 854,919 shares during the last quarter. Finally, Schroder Investment Management Group increased its stake in First Solar by 3.7% during the second quarter. Schroder Investment Management Group now owns 1,350,084 shares of the solar cell manufacturer’s stock worth $223,493,000 after acquiring an additional 47,646 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Buying and Selling at First Solar

In related news, CFO Alexander R. Bradley sold 1,756 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $190.36, for a total transaction of $334,272.16. Following the sale, the chief financial officer directly owned 43,255 shares of the company’s stock, valued at $8,234,021.80. This represents a 3.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kuntal Kumar Verma sold 408 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $195.70, for a total transaction of $79,845.60. Following the sale, the insider owned 9,101 shares in the company, valued at approximately $1,781,065.70. This trade represents a 4.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 47,761 shares of company stock valued at $9,276,424. Corporate insiders own 0.48% of the company’s stock.

First Solar Price Performance

FSLR stock opened at $196.07 on Friday. The business’s fifty day moving average price is $227.24 and its 200 day moving average price is $235.86. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $285.99. The company has a current ratio of 2.67, a quick ratio of 2.35 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $21.04 billion, a PE ratio of 13.80, a P/E/G ratio of 0.32 and a beta of 1.65.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 EPS for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.38). The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.59 billion. First Solar had a net margin of 29.28% and a return on equity of 17.32%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.65 earnings per share. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Analyst Ratings Changes

FSLR has been the topic of several recent analyst reports. Guggenheim upped their price target on First Solar from $289.00 to $312.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Susquehanna cut their price objective on First Solar from $292.00 to $280.00 and set a “positive” rating for the company in a research report on Wednesday, February 25th. Mizuho reduced their price objective on shares of First Solar from $326.00 to $271.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Solar in a research note on Monday, December 29th. Finally, The Goldman Sachs Group dropped their price target on shares of First Solar from $316.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Twenty investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $249.65.

First Solar 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.