First Solar, Inc. $FSLR is Lightrock Netherlands B.V.'s 2nd Largest Position

Key Points

• Lightrock Netherlands B.V. boosted its stake in First Solar by 2,663.8% in Q4 to 666,307 shares, making FSLR roughly 18% of its portfolio (its 2nd largest position) and valued at about $174.1 million.
• Company insiders have been net sellers: the CFO and general counsel sold shares on March 17, and insiders sold 75,989 shares worth roughly $14.92 million over the last 90 days, leaving insiders with 0.39% ownership.
• Analysts give FSLR a consensus rating of "Moderate Buy" (20 Buys, 13 Holds, 2 Sells) with a consensus target of $246.13; the company recently reported Q results where EPS of $4.84 missed estimates while revenue of $1.68 billion beat expectations.

Lightrock Netherlands B.V. grew its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 2,663.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 666,307 shares of the solar cell manufacturer's stock after buying an additional 642,199 shares during the quarter. First Solar makes up approximately 18.0% of Lightrock Netherlands B.V.'s portfolio, making the stock its 2nd largest position. Lightrock Netherlands B.V. owned approximately 0.62% of First Solar worth $174,059,000 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. Joule Financial LLC acquired a new position in shares of First Solar in the third quarter worth about $950,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of First Solar by 22.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,155 shares of the solar cell manufacturer's stock worth $17,015,000 after buying an additional 13,904 shares during the period. Belpointe Asset Management LLC acquired a new position in shares of First Solar in the third quarter worth about $1,193,000. Greenup Street Wealth Management LLC acquired a new position in shares of First Solar in the third quarter worth about $2,147,000. Finally, Candriam S.C.A. boosted its holdings in shares of First Solar by 70.2% in the third quarter. Candriam S.C.A. now owns 150,379 shares of the solar cell manufacturer's stock worth $33,163,000 after buying an additional 62,048 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Alexander R. Bradley sold 14,106 shares of the 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 in the company, valued at approximately $5,999,100. This represents a 31.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Jason E. Dymbort sold 9,022 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $199.62, for a total value of $1,800,971.64. Following the completion of the transaction, the general counsel owned 9,850 shares in the company, valued at $1,966,257. This represents a 47.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 75,989 shares of company stock valued at $14,921,902 over the last ninety days. Insiders own 0.39% of the company's stock.

Analyst Upgrades and Downgrades

FSLR has been the subject of several recent analyst reports. Needham & Company LLC raised their target price on shares of First Solar from $286.00 to $303.00 and gave the stock a "buy" rating in a report on Monday, February 23rd. Argus lowered their target price on First Solar from $300.00 to $250.00 and set a "buy" rating on the stock in a research note on Tuesday, March 3rd. BMO Capital Markets lowered their target price on First Solar from $263.00 to $252.00 and set a "market perform" rating on the stock in a research note on Friday, March 27th. Susquehanna reduced their price target on shares of First Solar from $280.00 to $250.00 and set a "positive" rating for the company in a research report on Thursday, April 9th. Finally, Mizuho reduced their price target on shares of First Solar from $326.00 to $271.00 and set an "outperform" rating for the company in a research report on Wednesday, February 25th. Twenty investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $246.13.

First Solar Price Performance

NASDAQ FSLR opened at $195.20 on Thursday. The company has a 50 day simple moving average of $205.93 and a 200-day simple moving average of $234.46. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.67 and a quick ratio of 2.35. The firm has a market capitalization of $20.97 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 0.43 and a beta of 1.61. First Solar, Inc. has a 52-week low of $119.09 and a 52-week high of $285.99.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.22 by ($0.38). The company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.59 billion. First Solar had a return on equity of 17.32% and a net margin of 29.28%.First Solar's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $3.65 earnings per share. Equities research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

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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