Brevan Howard Capital Management LP Makes New Investment in First Solar, Inc. (NASDAQ:FSLR)

Brevan Howard Capital Management LP acquired a new stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,656 shares of the solar cell manufacturer's stock, valued at approximately $644,000.

A number of other hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in shares of First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after purchasing an additional 63 shares in the last quarter. Crews Bank & Trust acquired a new stake in First Solar during the 4th quarter worth approximately $53,000. Hudson Edge Investment Partners Inc. acquired a new stake in shares of First Solar in the 4th quarter valued at $53,000. Banque Transatlantique SA acquired a new stake in shares of First Solar in the 4th quarter valued at $53,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of First Solar in the 4th quarter valued at $54,000. Hedge funds and other institutional investors own 92.08% of the company's stock.

Insider Activity at First Solar

In related news, insider Kuntal Kumar Verma sold 419 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $55,710.24. Following the completion of the sale, the insider now owns 4,695 shares in the company, valued at approximately $624,247.20. This represents a 8.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark R. Widmar sold 1,966 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $262,952.50. Following the completion of the sale, the chief executive officer now owns 111,890 shares of the company's stock, valued at approximately $14,965,287.50. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,311 shares of company stock valued at $4,767,158 over the last ninety days. Insiders own 0.48% of the company's stock.

First Solar Stock Up 22.7%

First Solar stock traded up $35.39 during midday trading on Tuesday, hitting $191.60. 20,174,256 shares of the stock were exchanged, compared to its average volume of 3,002,944. The company has a 50 day moving average price of $130.84 and a two-hundred day moving average price of $163.25. The firm has a market cap of $20.55 billion, a P/E ratio of 16.50, a P/E/G ratio of 0.19 and a beta of 1.46. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $844.57 million for the quarter, compared to the consensus estimate of $863.11 million. During the same period in the prior year, the company earned $2.20 EPS. First Solar's quarterly revenue was up 6.4% on a year-over-year basis. On average, sell-side analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FSLR. Guggenheim reduced their price objective on shares of First Solar from $253.00 to $202.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Seaport Res Ptn raised shares of First Solar from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 15th. TD Cowen lowered their target price on shares of First Solar from $275.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Citigroup decreased their price objective on shares of First Solar from $254.00 to $236.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Finally, Redburn Atlantic assumed coverage on shares of First Solar in a report on Monday, March 3rd. They set a "neutral" rating on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, First Solar presently has a consensus rating of "Moderate Buy" and an average target price of $223.76.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.