9,602 Shares in First Solar, Inc. $FSLR Acquired by Callahan Advisors LLC

Key Points

• Callahan Advisors LLC initiated a new position in First Solar, buying 9,602 shares valued at about $2.51 million in the fourth quarter.
• First Solar reported strong quarterly results, posting $3.22 EPS versus expectations of $2.87 and revenue of $1.04 billion, up 23.6% year over year.
• Insider selling continued, with CEO Mark R. Widmar and CFO Alexander R. Bradley both selling shares; analysts still rate the stock a Moderate Buy with an average target price of $247.03.

Callahan Advisors LLC acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 9,602 shares of the solar cell manufacturer's stock, valued at approximately $2,508,000.

Other hedge funds have also recently made changes to their positions in the company. Aventura Private Wealth LLC purchased a new position in shares of First Solar during the 4th quarter worth approximately $25,000. Larson Financial Group LLC boosted its position in shares of First Solar by 117.0% during the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer's stock worth $27,000 after purchasing an additional 55 shares during the period. Elyxium Wealth LLC purchased a new position in shares of First Solar during the 4th quarter worth approximately $30,000. Strategic Wealth Investment Group LLC purchased a new position in shares of First Solar during the 2nd quarter worth approximately $26,000. Finally, Torren Management LLC purchased a new position in shares of First Solar during the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 92.08% of the company's stock.

Insiders Place Their Bets

In other news, CEO Mark R. Widmar sold 1,300 shares of the firm's stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $240.02, for a total value of $312,026.00. Following the sale, the chief executive officer directly owned 93,848 shares in the company, valued at approximately $22,525,396.96. This trade represents a 1.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alexander R. Bradley sold 498 shares of the firm's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $107,383.74. Following the completion of the sale, the chief financial officer owned 30,712 shares in the company, valued at $6,622,428.56. The trade was a 1.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 92,430 shares of company stock worth $18,670,055. 0.39% of the stock is currently owned by insiders.

First Solar Price Performance

Shares of FSLR opened at $237.86 on Thursday. First Solar, Inc. has a twelve month low of $135.50 and a twelve month high of $285.99. The firm's fifty day simple moving average is $202.87 and its 200-day simple moving average is $231.14. The firm has a market capitalization of $25.56 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.49 and a beta of 1.57. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, beating analysts' consensus estimates of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the business earned $1.95 EPS. The company's revenue was up 23.6% on a year-over-year basis. Equities analysts forecast that First Solar, Inc. will post 17.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FSLR has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price target on shares of First Solar from $303.00 to $256.00 and set an "overweight" rating for the company in a research report on Wednesday, February 25th. Barclays decreased their price target on shares of First Solar from $228.00 to $213.00 and set an "overweight" rating for the company in a research report on Monday, April 20th. UBS Group decreased their price target on shares of First Solar from $300.00 to $290.00 and set a "buy" rating for the company in a research report on Monday, May 4th. Guggenheim decreased their price target on shares of First Solar from $312.00 to $269.00 and set a "buy" rating for the company in a research report on Tuesday, March 17th. Finally, Royal Bank Of Canada decreased their price target on shares of First Solar from $258.00 to $236.00 and set an "outperform" rating for the company in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $247.03.

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.

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