Caxton Associates LLP Purchases Shares of 18,734 First Solar, Inc. $FSLR

Key Points

• Caxton Associates LLP has acquired a new stake in First Solar, Inc., purchasing 18,734 shares valued at approximately $2.37 million during the first quarter.
• Insiders at First Solar, including CEO Mark R. Widmar, have recently sold shares, with Widmar selling 2,321 shares for around $462,900, indicating a 2.76% decrease in his ownership.
• First Solar's stock price opened at $203.21 and has a market cap of $21.79 billion, with analysts forecasting an average price target of $225.84.

Caxton Associates LLP purchased a new stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,734 shares of the solar cell manufacturer's stock, valued at approximately $2,369,000.

Several other hedge funds also recently added to or reduced their stakes in FSLR. Nuveen LLC purchased a new stake in First Solar in the first quarter valued at $114,730,000. Canada Pension Plan Investment Board boosted its stake in shares of First Solar by 16,857.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 759,033 shares of the solar cell manufacturer's stock worth $95,965,000 after acquiring an additional 754,557 shares in the last quarter. Invesco Ltd. boosted its stake in shares of First Solar by 32.3% during the 1st quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer's stock worth $306,909,000 after acquiring an additional 592,444 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of First Solar by 22,107.8% during the 1st quarter. Jones Financial Companies Lllp now owns 512,556 shares of the solar cell manufacturer's stock worth $64,802,000 after acquiring an additional 510,248 shares in the last quarter. Finally, Hill City Capital LP boosted its stake in shares of First Solar by 59.4% during the 1st quarter. Hill City Capital LP now owns 1,355,000 shares of the solar cell manufacturer's stock worth $171,313,000 after acquiring an additional 505,000 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Solar

In related news, CEO Mark R. Widmar sold 2,321 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $199.44, for a total value of $462,900.24. Following the completion of the transaction, the chief executive officer directly owned 81,861 shares in the company, valued at approximately $16,326,357.84. This represents a 2.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Nathan B. Theurer sold 686 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total value of $124,872.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,315 shares of company stock worth $6,021,305. Insiders own 0.48% of the company's stock.

First Solar Stock Down 0.9%

FSLR stock opened at $203.21 on Tuesday. The company has a market cap of $21.79 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 0.40 and a beta of 1.41. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $262.72. The firm has a 50-day moving average of $185.34 and a two-hundred day moving average of $157.95.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.50. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. First Solar's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on FSLR. JPMorgan Chase & Co. increased their target price on shares of First Solar from $200.00 to $208.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Wolfe Research raised shares of First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 target price on the stock in a research note on Tuesday, May 13th. UBS Group reissued a "buy" rating and set a $275.00 target price (up from $255.00) on shares of First Solar in a research note on Tuesday, August 5th. Hsbc Global Res raised shares of First Solar to a "strong-buy" rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada increased their target price on shares of First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $225.84.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.

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