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Sen. John Boozman Purchases First Solar, Inc. (NASDAQ:FSLR) Shares

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Key Points

  • Sen. John Boozman purchased between $1,001 and $15,000 of First Solar shares on August 13, according to a September 11 disclosure. He also recently bought shares in Otis Worldwide and several ETFs while selling positions including Johnson & Johnson and Constellation Energy.
  • First Solar shares opened at $209.03, up 0.9%, with a market capitalization of approximately $22.46 billion. The company reported quarterly EPS of $3.92, exceeding analyst estimates of $2.90, although revenue declined 3.4% year over year.
  • Analysts give First Solar a consensus “Moderate Buy” rating with an average price target of $266.06. Meanwhile, company insiders sold 15,881 shares worth about $3.62 million over the past 90 days.
  • MarketBeat previews top five stocks to own in October.

Senator John Boozman (Republican-Arkansas) recently bought shares of First Solar, Inc. NASDAQ: FSLR. In a filing disclosed on September 11th, the Senator disclosed that they had bought between $1,001 and $15,000 in First Solar stock on August 13th.

Senator John Boozman also recently made the following trade(s):

First Solar Stock Up 0.9%

Shares of FSLR opened at $209.03 on Friday. First Solar, Inc. has a twelve month low of $182.99 and a twelve month high of $320.95. The stock has a market cap of $22.46 billion, a PE ratio of 12.89, a P/E/G ratio of 0.55 and a beta of 1.74. The business's 50-day moving average price is $216.51 and its 200-day moving average price is $221.74.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The solar cell manufacturer reported $3.92 EPS for the quarter, beating analysts' consensus estimates of $2.90 by $1.02. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. First Solar had a net margin of 32.47% and a return on equity of 18.02%. First Solar's revenue was down 3.4% compared to the same quarter last year. During the same period last year, the business earned $3.18 earnings per share. Analysts expect that First Solar, Inc. will post 17.78 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, insider Michael Koralewski sold 7,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $221.51, for a total transaction of $1,550,570.00. Following the transaction, the insider directly owned 7,642 shares of the company's stock, valued at approximately $1,692,779.42. This trade represents a 47.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Markus Gloeckler sold 3,425 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $218.95, for a total value of $749,903.75. Following the transaction, the chief technology officer owned 7,471 shares in the company, valued at approximately $1,635,775.45. The trade was a 31.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 15,881 shares of company stock worth $3,617,086 in the last 90 days. 0.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Solar

Institutional investors have recently modified their holdings of the company. Woodline Partners LP boosted its stake in First Solar by 40.7% in the first quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer's stock worth $1,143,000 after buying an additional 2,615 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of First Solar by 50.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 516 shares of the solar cell manufacturer's stock worth $85,000 after acquiring an additional 174 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of First Solar by 84.3% in the 2nd quarter. Brown Advisory Inc. now owns 4,529 shares of the solar cell manufacturer's stock worth $750,000 after acquiring an additional 2,072 shares during the last quarter. Cerity Partners LLC purchased a new stake in shares of First Solar in the 2nd quarter valued at $494,000. Finally, AXA S.A. grew its holdings in shares of First Solar by 6.3% during the 2nd quarter. AXA S.A. now owns 18,862 shares of the solar cell manufacturer's stock valued at $3,122,000 after purchasing an additional 1,115 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FSLR shares. Evercore reiterated a "positive" rating and issued a $218.00 target price on shares of First Solar in a research note on Monday, August 17th. Raymond James Financial started coverage on shares of First Solar in a research report on Thursday, August 27th. They set a "market perform" rating for the company. HC Wainwright initiated coverage on First Solar in a research report on Thursday, August 27th. They issued a "buy" rating on the stock. UBS Group lifted their price objective on First Solar from $290.00 to $330.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. Finally, Robert W. Baird set a $318.00 target price on First Solar and gave the stock an "outperform" rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, First Solar presently has a consensus rating of "Moderate Buy" and an average target price of $266.06.

Check Out Our Latest Stock Report on FSLR

About Senator Boozman

John Boozman (Republican Party) is a member of the U.S. Senate from Arkansas. He assumed office on January 3, 2011. His current term ends on January 3, 2029. Boozman (Republican Party) ran for re-election to the U.S. Senate to represent Arkansas. He won in the general election on November 8, 2022. Boozman won re-election in 2016. He faced Democrat Conner Eldridge, Libertarian Frank Gilbert, and write-in candidate Jason Tate in the general election. Arkansas' U.S. Senate race was rated as safely Republican in 2016. Boozman began his political career in the U.S. House. He won a special election in 2001 and served in that position until his election to the Senate in 2010. Prior to his political career, Boozman worked as an optometrist. As of a 2014 analysis of multiple outside rankings, Boozman is an average Republican member of Congress, meaning he will vote with the Republican Party on the majority of bills. Below is an abbreviated outline of Boozman's academic, professional, and political career: 2011-Present: U.S. Senator from Arkansas 2001-2011: U.S. Representative from Arkansas 1977: Graduated from Southern College of Optometry

About First Solar

(Get Free Report)

First Solar, Inc is a renewable energy technology company that designs and manufactures photovoltaic (PV) solar modules. Unlike conventional crystalline-silicon panels, its modules use thin-film semiconductor technology based on cadmium telluride (CdTe). The company also provides supporting services, including project development, engineering, procurement and construction support, operations and maintenance, and module recycling.

First Solar primarily serves utility-scale solar developers, system owners and operators, commercial customers, and government entities.

See Also

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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