Genus Capital Management Inc. Makes New Investment in First Solar, Inc. $FSLR

Key Points

• Genus Capital Management opened a new position in First Solar during the fourth quarter, buying 17,320 shares worth about $4.5 million.
• First Solar reported strong quarterly results, with earnings of $3.22 per share topping estimates and revenue rising 23.6% year over year to $1.04 billion.
• The stock has drawn mixed but generally positive attention: analysts maintain a Moderate Buy rating on average, while First Solar also announced a partnership with GameChange Solar and saw insider selling from CEO Mark R. Widmar and another executive.

Genus Capital Management Inc. purchased a new position in First Solar, Inc. (NASDAQ:FSLR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 17,320 shares of the solar cell manufacturer's stock, valued at approximately $4,525,000.

Several other hedge funds have also recently added to or reduced their stakes in FSLR. Woodline Partners LP boosted its stake in First Solar by 40.7% in the 1st quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer's stock worth $1,143,000 after purchasing an additional 2,615 shares during the period. EverSource Wealth Advisors LLC boosted its stake in First Solar by 50.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 516 shares of the solar cell manufacturer's stock worth $85,000 after purchasing an additional 174 shares during the period. Brown Advisory Inc. boosted its stake in First Solar by 84.3% in the 2nd quarter. Brown Advisory Inc. now owns 4,529 shares of the solar cell manufacturer's stock worth $750,000 after purchasing an additional 2,072 shares during the period. Cerity Partners LLC acquired a new position in First Solar in the 2nd quarter worth approximately $494,000. Finally, AXA S.A. boosted its stake in First Solar by 6.3% in the 2nd quarter. AXA S.A. now owns 18,862 shares of the solar cell manufacturer's stock worth $3,122,000 after purchasing an additional 1,115 shares during the period. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Stock Performance

Shares of NASDAQ:FSLR opened at $257.85 on Monday. The firm has a fifty day moving average of $205.04 and a two-hundred day moving average of $230.96. The firm has a market capitalization of $27.71 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 0.57 and a beta of 1.57. First Solar, Inc. has a 12-month low of $135.50 and a 12-month high of $285.99. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) 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 business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business earned $1.95 EPS. First Solar's quarterly revenue was up 23.6% compared to the same quarter last year. On average, equities analysts expect that First Solar, Inc. will post 17.64 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Mark R. Widmar sold 4,815 shares of First Solar stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $247.43, for a total value of $1,191,375.45. Following the completion of the sale, the chief executive officer owned 89,033 shares of the company's stock, valued at approximately $22,029,435.19. The trade was a 5.13% 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, insider Kuntal Kumar Verma sold 582 shares of First Solar stock in a transaction on 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 directly owned 4,967 shares of the company's stock, valued at approximately $1,241,750. The trade was a 10.49% 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. Insiders have sold 97,827 shares of company stock worth $20,006,930 in the last 90 days. 0.39% of the stock is owned by corporate insiders.

Trending Headlines about First Solar

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

• Positive Sentiment: First Solar announced a partnership with GameChange Solar to support wider use of its domestically manufactured thin-film modules in India, a move that could improve demand visibility and reduce supply-chain or compliance concerns. Why First Solar (FSLR) Stock Is Trading Up Today
• Positive Sentiment: Guggenheim raised its price target on First Solar to $279 from $269 and reiterated a Buy rating, signaling continued analyst confidence in the stock’s upside potential. MarketScreener

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FSLR shares. Glj Research lowered shares of First Solar from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $314.43 to $207.82 in a research note on Wednesday, March 4th. JPMorgan Chase & Co. decreased their price objective on shares of First Solar from $303.00 to $256.00 and set an "overweight" rating for the company in a research note on Wednesday, February 25th. Mizuho decreased their price objective on shares of First Solar from $271.00 to $243.00 and set an "outperform" rating for the company in a research note on Monday, April 27th. HSBC raised their price objective on shares of First Solar from $211.00 to $231.00 and gave the stock a "hold" rating in a research note on Tuesday, May 5th. Finally, Evercore raised their price objective on shares of First Solar from $212.00 to $219.00 in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.

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