Atlatl Advisers LLC Makes New Investment in First Solar, Inc. $FSLR

Key Points

• Atlatl Advisers LLC opened a new position in First Solar during the fourth quarter, buying 6,496 shares worth about $1.7 million.
• Institutional interest in First Solar remains heavy, with hedge funds and other investors owning 92.08% of the company’s stock. Several firms boosted their stakes, including Vanguard, Amundi, and Lightrock Netherlands.
• First Solar reported a strong quarter, posting $3.22 EPS versus the expected $2.87 and revenue of $1.04 billion, while analysts currently rate the stock a Moderate Buy with a consensus price target of $247.40.

Atlatl Advisers LLC acquired a new position in First Solar, Inc. (NASDAQ:FSLR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,496 shares of the solar cell manufacturer's stock, valued at approximately $1,697,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Viking Global Investors LP lifted its position in shares of First Solar by 60.6% during the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer's stock valued at $375,122,000 after buying an additional 854,919 shares during the last quarter. Lightrock Netherlands B.V. lifted its position in shares of First Solar by 2,663.8% during the 4th quarter. Lightrock Netherlands B.V. now owns 666,307 shares of the solar cell manufacturer's stock valued at $174,059,000 after buying an additional 642,199 shares during the last quarter. Amundi lifted its position in shares of First Solar by 38.6% during the 3rd quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer's stock valued at $459,917,000 after buying an additional 564,032 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of First Solar by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer's stock valued at $3,026,108,000 after buying an additional 464,130 shares during the last quarter. Finally, Atreides Management LP purchased a new position in shares of First Solar during the 2nd quarter valued at $65,134,000. Hedge funds and other institutional investors own 92.08% of the company's stock.

First Solar Stock Performance

NASDAQ:FSLR opened at $257.85 on Tuesday. The business's 50-day moving average price is $206.25 and its two-hundred day moving average price is $230.92. First Solar, Inc. has a twelve month low of $135.50 and a twelve month high of $285.99. The stock has a market cap of $27.71 billion, a P/E ratio of 16.66, a PEG ratio of 0.57 and a beta of 1.57. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly 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 firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The company's revenue was up 23.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.95 EPS. As a group, equities analysts predict that First Solar, Inc. will post 17.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FSLR shares. DZ Bank raised First Solar to a "strong sell" rating in a research report on Thursday, February 26th. Deutsche Bank Aktiengesellschaft cut First Solar from a "buy" rating to a "hold" rating and dropped their price target for the company from $300.00 to $245.00 in a research report on Wednesday, February 25th. Glj Research cut First Solar from a "buy" rating to a "hold" rating and dropped their price target for the company from $314.43 to $207.82 in a research report on Wednesday, March 4th. HSBC upped their price target on First Solar from $211.00 to $231.00 and gave the company a "hold" rating in a research report on Tuesday, May 5th. Finally, UBS Group dropped their price target on First Solar from $300.00 to $290.00 and set a "buy" rating on the stock in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, First Solar currently has an average rating of "Moderate Buy" and a consensus price target of $247.40.

Insider Activity

In other news, insider Kuntal Kumar Verma sold 3,426 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $195.93, for a total transaction of $671,256.18. Following the transaction, the insider directly owned 8,334 shares in the company, valued at approximately $1,632,880.62. This represents a 29.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark R. Widmar sold 9,926 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $233.21, for a total value of $2,314,842.46. Following the transaction, the chief executive officer owned 95,148 shares in the company, valued at $22,189,465.08. This trade represents a 9.45% 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. In the last three months, insiders sold 97,827 shares of company stock worth $20,006,930. 0.39% of the stock is currently owned by insiders.

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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