766,028 Shares in First Solar, Inc. $FSLR Bought by Polar Capital Holdings Plc

Key Points

• Polar Capital Holdings Plc bought a new position in First Solar in the fourth quarter, acquiring 766,028 shares valued at about $200.1 million. The stake represented roughly 0.8% of Polar Capital’s portfolio.
• First Solar continues to see broad institutional ownership, with investors owning about 92.08% of the company. Several other funds also added or initiated positions during the period.
• Analysts remain generally constructive: the stock has a Moderate Buy consensus and a target price of $250.99, while the company recently beat quarterly earnings expectations with $3.22 EPS and $1.04 billion in revenue.

Polar Capital Holdings Plc acquired a new position in First Solar, Inc. (NASDAQ:FSLR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 766,028 shares of the solar cell manufacturer's stock, valued at approximately $200,109,000. First Solar accounts for approximately 0.8% of Polar Capital Holdings Plc's portfolio, making the stock its 27th largest holding. Polar Capital Holdings Plc owned about 0.71% of First Solar at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of FSLR. Aventura Private Wealth LLC bought a new stake in shares of First Solar in the fourth quarter worth $25,000. Commonwealth Retirement Investments LLC bought a new stake in shares of First Solar in the fourth quarter worth $26,000. Strategic Wealth Investment Group LLC bought a new stake in shares of First Solar in the second quarter worth $26,000. Larson Financial Group LLC grew its holdings in shares of First Solar by 117.0% in the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer's stock worth $27,000 after acquiring an additional 55 shares during the period. Finally, Elyxium Wealth LLC bought a new stake in shares of First Solar in the fourth quarter worth $30,000. Institutional investors own 92.08% of the company's stock.

Insiders Place Their Bets

In other news, insider Georges Antoun sold 566 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total value of $122,046.58. Following the transaction, the insider directly owned 19,918 shares in the company, valued at $4,294,918.34. The trade was a 2.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kuntal Kumar Verma sold 582 shares of the business's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $250.00, for a total value of $145,500.00. Following the completion of the transaction, the insider owned 4,967 shares in the company, valued at $1,241,750. The trade was a 10.49% 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 ninety days, insiders sold 32,466 shares of company stock valued at $8,014,105. Insiders own 0.39% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Argus lifted their price objective on First Solar from $250.00 to $275.00 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Evercore lifted their target price on First Solar from $212.00 to $219.00 in a research report on Monday, May 4th. Weiss Ratings downgraded First Solar from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 11th. Jefferies Financial Group lowered their target price on First Solar from $205.00 to $187.00 and set a "hold" rating on the stock in a research report on Tuesday, April 7th. Finally, Wall Street Zen downgraded First Solar from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $250.99.

First Solar Price Performance

NASDAQ FSLR opened at $264.36 on Wednesday. The company has a market capitalization of $28.41 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 0.60 and a beta of 1.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. The business's fifty day moving average is $234.90 and its 200 day moving average is $233.51. First Solar, Inc. has a fifty-two week low of $135.50 and a fifty-two week high of $320.95.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.35. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.First Solar's quarterly revenue was up 23.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.95 earnings per share. Sell-side analysts predict that First Solar, Inc. will post 17.61 earnings per share for the current year.

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.

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