First Solar, Inc. $FSLR Stock Purchased by Guild Investment Management Inc.

Key Points

• Guild Investment Management increased its First Solar stake by 29.6% in the third quarter, buying 5,073 shares and ending the period with 22,183 shares valued at about $3.9 million.
• Other institutional investors also added shares, and institutions collectively own 92.08% of First Solar. Company insiders sold 5,427 shares worth about $1.25 million over the last quarter.
• First Solar beat quarterly EPS expectations ($5.30 versus $4.67), but revenue missed estimates and fell 22.8% year over year; the company also lowered its full-year sales and shipment outlook. Analysts’ consensus rating is Moderate Buy, with a $257.38 average price target.

Guild Investment Management Inc. increased its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 29.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,183 shares of the solar cell manufacturer's stock after purchasing an additional 5,073 shares during the quarter. First Solar accounts for 2.5% of Guild Investment Management Inc.'s holdings, making the stock its 18th largest holding. Guild Investment Management Inc.'s holdings in First Solar were worth $3,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of FSLR. StoneX Group Inc. purchased a new position in shares of First Solar in the 3rd quarter valued at about $336,000. Pictet Asset Management Holding SA grew its position in shares of First Solar by 9.6% during the third quarter. Pictet Asset Management Holding SA now owns 1,254,076 shares of the solar cell manufacturer's stock worth $219,666,000 after buying an additional 110,031 shares in the last quarter. Alps Advisors Inc. grew its position in shares of First Solar by 10.4% during the third quarter. Alps Advisors Inc. now owns 37,704 shares of the solar cell manufacturer's stock worth $6,604,000 after buying an additional 3,540 shares in the last quarter. Mader & Shannon Wealth Management Inc. increased its stake in shares of First Solar by 3.0% during the third quarter. Mader & Shannon Wealth Management Inc. now owns 24,281 shares of the solar cell manufacturer's stock worth $4,253,000 after buying an additional 700 shares during the period. Finally, CenterBook Partners LP increased its stake in shares of First Solar by 121.0% during the third quarter. CenterBook Partners LP now owns 57,068 shares of the solar cell manufacturer's stock worth $9,996,000 after buying an additional 31,241 shares during the period. Hedge funds and other institutional investors own 92.08% of the company's stock.

Insiders Place Their Bets

In other news, EVP Samantha Sloan sold 127 shares of the business's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $222.95, for a total transaction of $28,314.65. Following the completion of the sale, the executive vice president owned 2,018 shares in the company, valued at approximately $449,913.10. The trade was a 5.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Markus Gloeckler sold 800 shares of the business's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $174.00, for a total transaction of $139,200.00. Following the sale, the chief technology officer owned 5,042 shares of the company's stock, valued at $877,308. This represents a 13.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 5,427 shares of company stock valued at $1,250,221. 0.39% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

FSLR has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft cut shares of First Solar from a "buy" rating to a "hold" rating in a report on Thursday, August 27th. Sanford C. Bernstein dropped their price objective on shares of First Solar from $197.00 to $169.00 and set an "underperform" rating on the stock in a research report on Friday, October 30th. Susquehanna restated a "positive" rating and issued a $246.00 price objective on shares of First Solar in a report on Friday, October 30th. UBS Group restated a "buy" rating on shares of First Solar in a report on Friday, October 30th. Finally, BNP Paribas Exane began coverage on shares of First Solar in a research report on Friday, October 30th. They set a "strong-buy" rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $257.38.

First Solar Stock Performance

FSLR opened at $201.14 on Friday. First Solar, Inc. has a one year low of $165.86 and a one year high of $320.95. The company has a market cap of $21.62 billion, a P/E ratio of 11.64, a PEG ratio of 0.55 and a beta of 1.73. The business's 50-day simple moving average is $186.99 and its 200-day simple moving average is $214.96.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Thursday, October 29th. The solar cell manufacturer reported $5.30 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.63. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.29 billion. First Solar had a return on equity of 18.33% and a net margin of 37.12%. The business's quarterly revenue was down 22.8% on a year-over-year basis. During the same quarter last year, the company earned $4.24 EPS. As a group, analysts predict that First Solar, Inc. will post 17.66 earnings per share for the current fiscal year.

Key Stories Impacting First Solar

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

• Positive Sentiment: William Blair raised its rating on First Solar from “market perform” to “outperform.” The firm sees Democratic gains as potentially supporting utility-scale solar projects, although new bookings may take time to materialize. First Solar raised at William Blair as Democrat Congress seen boosting support
• Positive Sentiment: First Solar announced a $500 million share repurchase program and opened a manufacturing facility in Gaffney, South Carolina, expanding its U.S. production footprint and adding regional jobs. Democratic Sweep Could Be A Big Deal For First Solar Stock First Solar Opens South Carolina Plant
• Negative Sentiment: The company lowered its full-year net sales and module-shipment outlook. Its third-quarter results were mixed: EPS beat expectations, but revenue fell short of estimates and was down year over year, which may temper the positive policy and buyback news. Democratic Sweep Could Be A Big Deal For First Solar Stock

First Solar Profile

First Solar, Inc is a U.S.-based solar technology company that designs and manufactures photovoltaic modules for utility-scale solar power projects. Its products use thin-film cadmium telluride (CdTe) technology, an alternative to the crystalline-silicon cells commonly used in solar panels.

Founded in 1999, the company also provides services related to its modules, including recycling designed to recover and reuse materials at the end of a product's useful life. First Solar serves customers in markets across the Americas, Europe, and Asia-Pacific.

The company is headquartered in Tempe, Arizona.

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