Continuum Advisory LLC Acquires Shares of 14,984 First Solar, Inc. $FSLR

Key Points

• Continuum Advisory LLC opened a new position in First Solar during the first quarter, buying 14,984 shares valued at about $2.96 million.
• First Solar reported strong quarterly results, with EPS of $3.22 beating estimates and revenue of $1.04 billion slightly topping expectations. Revenue also rose 23.6% from a year earlier.
• The stock is seeing mixed signals from the market: analysts remain moderately bullish overall, but recent class-action and securities-fraud investigations have created legal overhang and headline risk.

Continuum Advisory LLC acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 14,984 shares of the solar cell manufacturer's stock, valued at approximately $2,956,000.

Several other hedge funds also recently made changes to their positions in the company. Apollon Wealth Management LLC increased its stake in shares of First Solar by 1.2% during the fourth quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer's stock worth $942,000 after acquiring an additional 44 shares during the period. Root Financial Partners LLC boosted its holdings in First Solar by 18.2% in the 4th quarter. Root Financial Partners LLC now owns 292 shares of the solar cell manufacturer's stock valued at $76,000 after purchasing an additional 45 shares in the last quarter. FIL Ltd boosted its holdings in First Solar by 6.9% in the 4th quarter. FIL Ltd now owns 708 shares of the solar cell manufacturer's stock valued at $185,000 after purchasing an additional 46 shares in the last quarter. Fielder Capital Group LLC boosted its holdings in First Solar by 4.1% in the 4th quarter. Fielder Capital Group LLC now owns 1,196 shares of the solar cell manufacturer's stock valued at $312,000 after purchasing an additional 47 shares in the last quarter. Finally, Burford Brothers Inc. increased its position in First Solar by 0.3% during the 4th quarter. Burford Brothers Inc. now owns 19,080 shares of the solar cell manufacturer's stock worth $4,984,000 after purchasing an additional 48 shares during the period. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $239.07 on Monday. The business's 50 day simple moving average is $243.56 and its 200-day simple moving average is $232.95. The firm has a market capitalization of $25.69 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 0.53 and a beta of 1.70. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15. First Solar, Inc. has a 12 month low of $149.54 and a 12 month high of $320.95.

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, topping analysts' consensus estimates of $2.87 by $0.35. The business 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 in the prior year, the firm posted $1.95 EPS. As a group, equities analysts forecast that First Solar, Inc. will post 17.61 earnings per share for the current fiscal year.

More First Solar News

Here are the key news stories impacting First Solar this week:

• Negative Sentiment: Several firms, including Howard G. Smith, Bronstein Gewirtz & Grossman, Rosen Law, Pomerantz, Portnoy, and the Schall Law Firm, announced or promoted class-action cases tied to First Solar, increasing legal overhang and headline risk. Article Title
• Negative Sentiment: Multiple securities-fraud investigations were also launched or reiterated by plaintiff firms, suggesting investors are actively probing whether earlier company disclosures may have been misleading. Article Title
• Neutral Sentiment: One Zacks item called First Solar a strong growth stock, which is supportive on fundamentals, but it appears to be a generic rating piece rather than a new company-specific catalyst. Article Title

Insiders Place Their Bets

In other news, CFO Alexander R. Bradley sold 498 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total value of $107,383.74. Following the completion of the transaction, the chief financial officer owned 30,712 shares in the company, valued at $6,622,428.56. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 transaction of $122,046.58. Following the completion of the sale, the insider owned 19,918 shares in the company, valued at $4,294,918.34. This represents a 2.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 32,466 shares of company stock valued at $8,014,105. Company insiders own 0.39% of the company's stock.

Analyst Ratings Changes

FSLR has been the subject of a number of analyst reports. Argus increased their target price on First Solar from $250.00 to $275.00 and gave the stock a "buy" rating in a research note on Wednesday, May 13th. Citigroup dropped their price objective on First Solar from $300.00 to $243.00 and set a "buy" rating on the stock in a report on Tuesday, April 21st. UBS Group increased their price objective on First Solar from $290.00 to $330.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. Zacks Research raised First Solar from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. Finally, Evercore raised their target price on First Solar from $212.00 to $219.00 in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $249.78.

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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