Pinkerton Wealth LLC Takes $3.50 Million Position in First Solar, Inc. $FSLR

Key Points

• Pinkerton Wealth LLC opened a new position in First Solar during the fourth quarter, buying 13,402 shares valued at about $3.5 million.
• First Solar shares were up 7.3% to $237.86, after the company reported better-than-expected quarterly results, including $3.22 EPS versus estimates of $2.87 and revenue of $1.04 billion.
• Analysts remain generally constructive on the stock: First Solar has a Moderate Buy consensus rating with a consensus price target of $247.03, though several firms have recently adjusted their targets.

Pinkerton Wealth LLC acquired a new stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,402 shares of the solar cell manufacturer's stock, valued at approximately $3,501,000.

Several other hedge funds have also modified their holdings of FSLR. Aventura Private Wealth LLC acquired a new stake in shares of First Solar in the fourth quarter valued at $25,000. Strategic Wealth Investment Group LLC acquired a new stake in shares of First Solar in the second quarter valued at $26,000. Larson Financial Group LLC raised its stake in First Solar by 117.0% in the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer's stock valued at $27,000 after buying an additional 55 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in First Solar in the fourth quarter valued at $30,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in First Solar in the third quarter valued at $44,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Up 7.3%

FSLR opened at $237.86 on Thursday. The business's 50-day simple moving average is $202.87 and its 200-day simple moving average is $231.14. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. First Solar, Inc. has a one year low of $135.50 and a one year high of $285.99. The stock has a market capitalization of $25.56 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 0.49 and a beta of 1.57.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping analysts' consensus estimates of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the previous year, the firm earned $1.95 earnings per share. The business's revenue was up 23.6% compared to the same quarter last year. Analysts anticipate that First Solar, Inc. will post 17.64 EPS for the current year.

Insider Buying and Selling at First Solar

In other news, insider Michael Koralewski sold 215 shares of First Solar stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $46,360.45. Following the sale, the insider owned 14,642 shares in the company, valued at approximately $3,157,254.46. The trade was a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Alexander R. Bradley sold 498 shares of First Solar stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total value of $107,383.74. Following the sale, the chief financial officer owned 30,712 shares in the company, valued at $6,622,428.56. This trade represents a 1.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 92,430 shares of company stock valued at $18,670,055. 0.39% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on FSLR shares. Evercore raised their price target on First Solar from $212.00 to $219.00 in a research note on Monday, May 4th. Citigroup cut their price target on First Solar from $300.00 to $243.00 and set a "buy" rating on the stock in a research note on Tuesday, April 21st. Susquehanna cut their price target on First Solar from $280.00 to $250.00 and set a "positive" rating on the stock in a research note on Thursday, April 9th. Mizuho cut their price target on First Solar from $271.00 to $243.00 and set an "outperform" rating on the stock in a research note on Monday, April 27th. Finally, Argus raised their price target on First Solar from $250.00 to $275.00 and gave the company a "buy" rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, First Solar presently has a consensus rating of "Moderate Buy" and a consensus target price of $247.03.

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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