11,047 Shares in First Solar, Inc. $FSLR Bought by Corient Private Wealth LP

Corient Private Wealth LP purchased a new stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 11,047 shares of the solar cell manufacturer's stock, valued at approximately $2,607,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FSLR. Pictet Asset Management Holding SA lifted its position in shares of First Solar by 29.3% in the first quarter. Pictet Asset Management Holding SA now owns 1,138,473 shares of the solar cell manufacturer's stock valued at $224,540,000 after buying an additional 258,204 shares during the last quarter. Atlatl Advisers LLC acquired a new position in shares of First Solar during the 4th quarter worth approximately $1,697,000. Northwestern Mutual Wealth Management Co. raised its stake in First Solar by 1,054.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 52,219 shares of the solar cell manufacturer's stock valued at $13,641,000 after acquiring an additional 47,695 shares during the period. Genus Capital Management Inc. bought a new stake in First Solar in the 4th quarter valued at $4,525,000. Finally, Norges Bank bought a new stake in First Solar in the 4th quarter valued at $392,040,000. 92.08% of the stock is owned by institutional investors.

First Solar Stock Up 1.5%

Shares of NASDAQ:FSLR opened at $202.60 on Thursday. First Solar, Inc. has a 12-month low of $182.99 and a 12-month high of $320.95. The company's 50 day moving average price is $220.28 and its two-hundred day moving average price is $222.90. The firm has a market cap of $21.77 billion, a PE ratio of 12.49, a PEG ratio of 0.53 and a beta of 1.74.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $1.02. First Solar had a return on equity of 18.02% and a net margin of 32.47%.The business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the previous year, the company posted $3.18 earnings per share. The firm's revenue for the quarter was down 3.4% compared to the same quarter last year. On average, research analysts expect that First Solar, Inc. will post 17.77 EPS for the current year.

Insider Activity

In other First Solar news, General Counsel Jason E. Dymbort sold 3,700 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $249.38, for a total value of $922,706.00. Following the sale, the general counsel owned 5,624 shares of the company's stock, valued at approximately $1,402,513.12. This trade represents a 39.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Markus Gloeckler sold 800 shares of the firm's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $200.00, for a total value of $160,000.00. Following the completion of the sale, the chief technology officer directly owned 5,842 shares in the company, valued at $1,168,400. This trade represents a 12.04% 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. Over the last three months, insiders sold 15,881 shares of company stock worth $3,617,086. 0.39% of the stock is owned by company insiders.

Analysts Set New Price Targets

FSLR has been the subject of several research analyst reports. Evercore reaffirmed a "positive" rating and set a $218.00 target price on shares of First Solar in a report on Monday, August 17th. Sanford C. Bernstein lowered their price target on shares of First Solar from $217.00 to $197.00 and set an "underperform" rating on the stock in a report on Friday, July 31st. HSBC raised shares of First Solar from a "hold" rating to a "buy" rating in a report on Friday, August 7th. Wells Fargo & Company boosted their price objective on First Solar from $300.00 to $313.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Finally, Truist Financial restated a "hold" rating and set a $229.00 price objective (down from $249.00) on shares of First Solar in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, First Solar has a consensus rating of "Moderate Buy" and a consensus price target of $266.27.

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.

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