Delta Global Management LP Invests $4.57 Million in First Solar, Inc. $FSLR

Key Points

• Delta Global Management LP opened a new position in First Solar, buying 17,480 shares worth about $4.57 million in the fourth quarter.
• Institutional interest in First Solar remains strong, with large investors like Norges Bank, Viking Global, and Vanguard holding or expanding sizable stakes; institutions now own 92.08% of the company.
• First Solar reported solid quarterly results, posting $3.22 EPS on $1.04 billion in revenue, both ahead of expectations, while analysts currently rate the stock Moderate Buy with a consensus price target of $250.99.

Delta Global Management LP acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,480 shares of the solar cell manufacturer's stock, valued at approximately $4,566,000.

Several other large investors also recently made changes to their positions in FSLR. Norges Bank bought a new position in First Solar in the fourth quarter valued at $392,040,000. Viking Global Investors LP grew its position in First Solar by 60.6% in the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer's stock valued at $375,122,000 after purchasing an additional 854,919 shares in the last quarter. Lightrock Netherlands B.V. grew its position in First Solar by 2,663.8% in the fourth quarter. Lightrock Netherlands B.V. now owns 666,307 shares of the solar cell manufacturer's stock valued at $174,059,000 after purchasing an additional 642,199 shares in the last quarter. Amundi grew its position in First Solar by 38.6% in the third quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer's stock valued at $459,917,000 after purchasing an additional 564,032 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in First Solar by 3.5% in the third quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer's stock valued at $3,026,108,000 after purchasing an additional 464,130 shares in the last quarter. Institutional investors own 92.08% of the company's stock.

First Solar Stock Performance

Shares of FSLR stock opened at $273.51 on Tuesday. The stock has a market cap of $29.39 billion, a P/E ratio of 17.67, a P/E/G ratio of 0.59 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. The company has a fifty day moving average price of $233.52 and a two-hundred day moving average price of $233.56. First Solar, Inc. has a one year low of $135.50 and a one year high of $320.95.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.87 by $0.35. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. First Solar's quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.95 EPS. As a group, equities analysts predict that First Solar, Inc. will post 17.61 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Mizuho raised their target price on shares of First Solar from $243.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday. Jefferies Financial Group decreased their target price on shares of First Solar from $205.00 to $187.00 and set a "hold" rating for the company in a research report on Tuesday, April 7th. DZ Bank raised shares of First Solar to a "strong sell" rating in a research report on Thursday, February 26th. JPMorgan Chase & Co. decreased their target price 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. Finally, Morgan Stanley cut their price target on shares of First Solar from $275.00 to $230.00 and set an "overweight" rating for the company in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $250.99.

Insider Activity at First Solar

In other news, insider Kuntal Kumar Verma sold 582 shares of the firm's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $250.00, for a total transaction of $145,500.00. Following the completion of the sale, the insider owned 4,967 shares in the company, valued at approximately $1,241,750. This trade represents a 10.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark R. Widmar sold 4,815 shares of the firm's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $247.43, for a total transaction of $1,191,375.45. Following the sale, the chief executive officer owned 89,033 shares of the company's stock, valued at approximately $22,029,435.19. This represents a 5.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,466 shares of company stock worth $8,014,105 in the last quarter. 0.39% of the stock is owned by corporate insiders.

About First Solar

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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