Continuum Advisory LLC Increases Holdings in First Solar, Inc. $FSLR

Key Points

• Continuum Advisory increased its First Solar holdings by 66.9% in the second quarter, owning 25,012 shares worth approximately $5.9 million. Institutional investors collectively held 92.08% of the company’s stock.
• First Solar reported quarterly EPS of $3.92, beating estimates of $2.90, while revenue reached $1.06 billion but declined 3.4% year over year. The company posted an 18.02% return on equity and a 32.47% net margin.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $266.27, although some firms recently downgraded the stock or reduced their targets. Insiders sold 15,881 shares worth $3.62 million over the past 90 days.

Continuum Advisory LLC lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 66.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,012 shares of the solar cell manufacturer's stock after purchasing an additional 10,028 shares during the period. Continuum Advisory LLC's holdings in First Solar were worth $5,902,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nykredit A S purchased a new stake in First Solar during the second quarter worth about $14,775,000. Natural Investments LLC boosted its stake in First Solar by 16.4% in the second quarter. Natural Investments LLC now owns 7,536 shares of the solar cell manufacturer's stock valued at $1,778,000 after acquiring an additional 1,062 shares during the last quarter. Secure Asset Management LLC boosted its stake in First Solar by 6.6% in the second quarter. Secure Asset Management LLC now owns 21,470 shares of the solar cell manufacturer's stock valued at $5,066,000 after acquiring an additional 1,329 shares during the last quarter. Nwam LLC grew its position in shares of First Solar by 44.8% during the 2nd quarter. Nwam LLC now owns 5,344 shares of the solar cell manufacturer's stock valued at $1,261,000 after acquiring an additional 1,653 shares during the period. Finally, JNBA Financial Advisors grew its position in shares of First Solar by 4.2% during the 2nd quarter. JNBA Financial Advisors now owns 4,721 shares of the solar cell manufacturer's stock valued at $1,114,000 after acquiring an additional 192 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CTO Markus Gloeckler sold 3,425 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $218.95, for a total transaction of $749,903.75. Following the completion of the transaction, the chief technology officer owned 7,471 shares of the company's stock, valued at approximately $1,635,775.45. The trade was a 31.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jason E. Dymbort sold 3,700 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $249.38, for a total transaction of $922,706.00. Following the sale, the general counsel directly owned 5,624 shares in the company, valued at $1,402,513.12. This trade represents a 39.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 15,881 shares of company stock valued at $3,617,086 over the last ninety days. 0.39% of the stock is owned by insiders.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $202.60 on Thursday. First Solar, Inc. has a fifty-two week low of $182.99 and a fifty-two week high of $320.95. The stock has a market cap of $21.77 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 0.53 and a beta of 1.74. The stock has a fifty day moving average of $220.28 and a 200-day moving average of $222.90.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 EPS for the quarter, topping the consensus estimate of $2.90 by $1.02. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. First Solar had a return on equity of 18.02% and a net margin of 32.47%.The firm's revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.18 EPS. On average, sell-side analysts predict that First Solar, Inc. will post 17.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. TD Cowen reaffirmed a "buy" rating on shares of First Solar in a report on Monday, July 20th. Mizuho set a $324.00 target price on First Solar in a research report on Thursday, August 13th. BMO Capital Markets lowered First Solar from a "hold" rating to a "market perform" rating in a research note on Thursday, August 27th. Sanford C. Bernstein dropped their price target on First Solar from $217.00 to $197.00 and set an "underperform" rating on the stock in a research report on Friday, July 31st. Finally, Barclays upped their price target on First Solar from $213.00 to $279.00 and gave the company an "overweight" rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, First Solar has a consensus rating of "Moderate Buy" and an average target price of $266.27.

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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