Lbp Am Sa Purchases 42,117 Shares of First Solar, Inc. $FSLR

Key Points

• Lbp Am Sa boosted its stake in First Solar by 85.1% in Q4, adding 42,117 shares to hold 91,584 shares worth about $23.9 million (roughly 0.09% of the company).
• Insider selling has been notable recently: Kuntal Kumar Verma sold 3,426 shares and CFO Alexander R. Bradley sold 14,106 shares, with insiders offloading 75,989 shares (~$14.92 million) in the past 90 days and now owning 0.39% of the stock.
• First Solar missed Q4 EPS expectations ($4.84 vs. $5.22) though revenue beat at $1.68 billion; the stock trades near $195 with a $20.97 billion market cap, and analysts hold a consensus "Moderate Buy" with an average target of $246.13 despite several lowered price targets.

Lbp Am Sa increased its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 85.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,584 shares of the solar cell manufacturer's stock after acquiring an additional 42,117 shares during the quarter. Lbp Am Sa owned about 0.09% of First Solar worth $23,924,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Joule Financial LLC bought a new position in First Solar in the 3rd quarter worth approximately $950,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of First Solar by 22.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,155 shares of the solar cell manufacturer's stock valued at $17,015,000 after acquiring an additional 13,904 shares during the last quarter. Belpointe Asset Management LLC bought a new position in shares of First Solar during the 3rd quarter valued at approximately $1,193,000. Greenup Street Wealth Management LLC purchased a new stake in First Solar during the 3rd quarter valued at $2,147,000. Finally, Candriam S.C.A. raised its holdings in First Solar by 70.2% during the 3rd quarter. Candriam S.C.A. now owns 150,379 shares of the solar cell manufacturer's stock valued at $33,163,000 after buying an additional 62,048 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Solar

In other news, insider Kuntal Kumar Verma sold 3,426 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $195.93, for a total transaction of $671,256.18. Following the transaction, the insider owned 8,334 shares of the company's stock, valued at approximately $1,632,880.62. This represents a 29.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alexander R. Bradley sold 14,106 shares of the stock in a transaction 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 directly owned 30,000 shares in the company, valued at $5,999,100. The trade was a 31.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 75,989 shares of company stock worth $14,921,902. Insiders own 0.39% of the company's stock.

First Solar Stock Down 2.7%

Shares of FSLR opened at $195.20 on Thursday. First Solar, Inc. has a 12-month low of $119.09 and a 12-month high of $285.99. The company has a current ratio of 2.67, a quick ratio of 2.35 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of $205.93 and a 200-day moving average price of $234.46. The firm has a market capitalization of $20.97 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.43 and a beta of 1.61.

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). First Solar had a return on equity of 17.32% and a net margin of 29.28%.The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the company posted $3.65 EPS. First Solar's quarterly revenue was up 11.1% compared to the same quarter last year. Equities research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. The Goldman Sachs Group decreased their price target on First Solar from $316.00 to $300.00 and set a "buy" rating on the stock in a report on Wednesday, February 25th. Freedom Capital lowered First Solar from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 26th. Evercore decreased their price target on First Solar from $241.00 to $212.00 in a report on Thursday, March 5th. DZ Bank upgraded First Solar to a "strong sell" rating in a report on Thursday, February 26th. Finally, Wall Street Zen lowered shares of First Solar from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Twenty research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $246.13.

First Solar 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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