Donoghue Forlines LLC Acquires Shares of 8,739 First Solar, Inc. $FSLR

Key Points

• Donoghue Forlines LLC disclosed a new position in First Solar, buying 8,739 shares valued at about $2.28 million in the fourth quarter.
• Institutional ownership in FSLR remains very high at 92.08%, with several large funds including Vanguard, Amundi, and Viking Global adding to their stakes.
• First Solar recently beat quarterly earnings and revenue estimates, and analysts remain generally positive, with Argus raising its price target to $275 and reiterating a buy rating.

Donoghue Forlines LLC purchased a new stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 8,739 shares of the solar cell manufacturer's stock, valued at approximately $2,283,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of FSLR. 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 acquiring an additional 854,919 shares during the period. 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 acquiring an additional 642,199 shares during the period. 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 acquiring an additional 564,032 shares during the period. 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 acquiring an additional 464,130 shares during the period. Finally, Atreides Management LP acquired a new stake in shares of First Solar during the 2nd quarter valued at approximately $65,134,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about First Solar

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

• Positive Sentiment: Argus raised its price target on First Solar to $275 from $250 and reiterated a buy rating, reinforcing upside expectations for FSLR. Argus Issues Positive Forecast for First Solar NASDAQ: FSLR Stock Price
• Positive Sentiment: Solar stocks are broadly stronger, with peers such as Enphase Energy and SolarEdge moving sharply higher, suggesting favorable sector sentiment that can spill over into First Solar. Enphase Energy and SolarEdge Jump 11%, Canadian Solar Sinks 10% in Lopsided Solar Stock Trade
• Positive Sentiment: First Solar’s last quarterly report beat estimates on both earnings and revenue, which continues to support the stock’s fundamental outlook. First Solar price performance and earnings data
• Neutral Sentiment: CEO Mark Widmar disclosed Rule 10b5-1 share sales, which were pre-planned but can still create a modest sentiment drag for investors. First Solar insider trading disclosure
• Neutral Sentiment: Coverage discussing China’s clean-tech retreat from the U.S. highlights the policy backdrop for solar, but the impact on FSLR is indirect and mixed. China’s $3 Billion US Clean Tech Exit Is an Investment Warning

First Solar Trading Down 1.3%

Shares of First Solar stock opened at $231.62 on Friday. 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 1 year low of $135.50 and a 1 year high of $285.99. The company has a market capitalization of $24.89 billion, a P/E ratio of 14.96, a P/E/G ratio of 0.52 and a beta of 1.57. The business has a 50 day moving average price of $199.81 and a 200 day moving average price of $231.39.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm posted $1.95 EPS. The company's quarterly revenue was up 23.6% compared to the same quarter last year. Sell-side analysts anticipate that First Solar, Inc. will post 17.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Bank of America reduced their price target on shares of First Solar from $291.00 to $271.00 and set a "buy" rating for the company in a research report on Thursday, January 22nd. TD Cowen reduced their price target on shares of First Solar from $320.00 to $253.00 and set a "buy" rating for the company in a research report on Wednesday, February 25th. Zacks Research upgraded shares of First Solar from a "strong sell" rating to a "hold" rating in a research report on Monday, April 27th. The Goldman Sachs Group lifted their price target on shares of First Solar from $300.00 to $310.00 in a research report on Friday, May 1st. Finally, Mizuho reduced their price target on shares of First Solar from $271.00 to $243.00 and set an "outperform" rating for the company in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $247.03.

Insider Activity

In related news, CEO Mark R. Widmar sold 9,926 shares of First Solar stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $233.21, for a total transaction of $2,314,842.46. Following the completion of the transaction, the chief executive officer directly owned 95,148 shares in the company, valued at $22,189,465.08. The trade was a 9.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alexander R. Bradley sold 14,106 shares of First Solar stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $199.97, for a total value of $2,820,776.82. Following the transaction, the chief financial officer owned 30,000 shares of the company's stock, valued at $5,999,100. This represents a 31.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 92,430 shares of company stock worth $18,670,055. 0.39% of the stock is owned by corporate insiders.

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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