First Solar, Inc. $FSLR Shares Sold by Two Seas Capital LP

Key Points

• Two Seas Capital LP cut its First Solar stake by 16.6% in the fourth quarter, selling 56,433 shares and leaving it with 284,259 shares worth about $74.3 million.
• First Solar reported better-than-expected quarterly results, with EPS of $3.22 versus estimates of $2.87 and revenue of $1.04 billion, up 23.6% year over year.
• Despite recent volatility and insider selling, analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $247.40.

Two Seas Capital LP decreased its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 16.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 284,259 shares of the solar cell manufacturer's stock after selling 56,433 shares during the period. First Solar accounts for 1.5% of Two Seas Capital LP's investment portfolio, making the stock its 9th largest holding. Two Seas Capital LP owned about 0.26% of First Solar worth $74,257,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of First Solar by 24.5% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 48,595 shares of the solar cell manufacturer's stock valued at $12,694,000 after buying an additional 9,558 shares in the last quarter. Prudential PLC boosted its holdings in shares of First Solar by 11.0% in the 4th quarter. Prudential PLC now owns 15,509 shares of the solar cell manufacturer's stock valued at $4,051,000 after buying an additional 1,542 shares in the last quarter. Vise Technologies Inc. boosted its holdings in shares of First Solar by 11.6% in the 4th quarter. Vise Technologies Inc. now owns 1,370 shares of the solar cell manufacturer's stock valued at $358,000 after buying an additional 142 shares in the last quarter. Verus Capital Partners LLC raised its position in First Solar by 4.0% in the 4th quarter. Verus Capital Partners LLC now owns 2,427 shares of the solar cell manufacturer's stock valued at $634,000 after purchasing an additional 94 shares during the last quarter. Finally, Lido Advisors LLC raised its position in First Solar by 1.0% in the 4th quarter. Lido Advisors LLC now owns 11,653 shares of the solar cell manufacturer's stock valued at $2,781,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Stock Down 11.4%

FSLR stock opened at $279.01 on Friday. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The company's 50-day moving average price is $224.60 and its 200 day moving average price is $233.15. First Solar, Inc. has a 52 week low of $135.50 and a 52 week high of $320.95. The company has a market cap of $29.98 billion, a P/E ratio of 18.02, a P/E/G ratio of 0.70 and a beta of 1.71.

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 for the quarter, beating the consensus estimate of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the firm posted $1.95 EPS. The firm's revenue for the quarter was up 23.6% on a year-over-year basis. On average, research analysts expect that First Solar, Inc. will post 17.61 earnings per share for the current fiscal year.

Insider Activity at First Solar

In other First Solar news, insider Caroline Stockdale sold 10,628 shares of the firm's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $275.60, for a total transaction of $2,929,076.80. Following the sale, the insider directly owned 23,792 shares of the company's stock, valued at $6,557,075.20. This trade represents a 30.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alexander R. Bradley sold 498 shares of the firm'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 $107,383.74. Following the sale, the chief financial officer directly owned 30,712 shares in the company, valued at $6,622,428.56. This represents a 1.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 76,480 shares of company stock worth $16,668,515 over the last three months. Company insiders own 0.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FSLR shares. Royal Bank Of Canada reduced their price target on shares of First Solar from $258.00 to $236.00 and set an "outperform" rating for the company in a research report on Wednesday, February 25th. BMO Capital Markets reduced their price target on shares of First Solar from $252.00 to $237.00 and set a "market perform" rating for the company in a research report on Monday, April 20th. UBS Group reduced their price target on shares of First Solar from $300.00 to $290.00 and set a "buy" rating for the company in a research report on Monday, May 4th. Freedom Capital upgraded shares of First Solar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 5th. Finally, Barclays reduced their price target on shares of First Solar from $228.00 to $213.00 and set an "overweight" rating for the company in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $247.40.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.