SG Americas Securities LLC Has $38.91 Million Stock Position in First Solar, Inc. $FSLR

Key Points

• SG Americas Securities LLC more than doubled its stake in First Solar during the first quarter, increasing holdings by 100.5% to 197,258 shares valued at about $38.9 million.
• First Solar reported strong quarterly results, posting EPS of $3.22 versus the $2.87 estimate and revenue of $1.04 billion, up 23.6% year over year.
• Wall Street remains cautiously positive on the stock, with a Moderate Buy consensus and an average price target of $249.78, while insiders recently sold shares to cover tax obligations.

SG Americas Securities LLC increased its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 100.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,258 shares of the solar cell manufacturer's stock after acquiring an additional 98,877 shares during the quarter. SG Americas Securities LLC owned 0.18% of First Solar worth $38,911,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Aventura Private Wealth LLC purchased a new position in First Solar during the 4th quarter worth approximately $25,000. Commonwealth Retirement Investments LLC purchased a new stake in shares of First Solar in the fourth quarter valued at $26,000. Reflection Asset Management acquired a new stake in shares of First Solar in the fourth quarter worth $26,000. Strategic Wealth Investment Group LLC acquired a new stake in shares of First Solar in the second quarter worth $26,000. Finally, Larson Financial Group LLC boosted its position in shares of First Solar by 117.0% in the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer's stock worth $27,000 after buying an additional 55 shares during the period. Hedge funds and other institutional investors own 92.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Robert W. Baird reissued a "neutral" rating and set a $205.00 price target (down from $264.00) on shares of First Solar in a research report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft cut First Solar from a "buy" rating to a "hold" rating and lowered their target price for the company from $300.00 to $245.00 in a research note on Wednesday, February 25th. Guggenheim upped their target price on First Solar from $269.00 to $279.00 and gave the company a "buy" rating in a report on Thursday, May 21st. HSBC increased their price target on shares of First Solar from $211.00 to $231.00 and gave the stock a "hold" rating in a research report on Tuesday, May 5th. Finally, Zacks Research upgraded shares of First Solar from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, First Solar has a consensus rating of "Moderate Buy" and an average target price of $249.78.

First Solar Price Performance

NASDAQ FSLR opened at $249.24 on Wednesday. First Solar, Inc. has a fifty-two week low of $142.84 and a fifty-two week high of $320.95. The stock's 50-day moving average is $240.76 and its two-hundred day moving average is $233.19. The firm has a market cap of $26.78 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 0.58 and a beta of 1.71. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company posted $1.95 EPS. The firm's revenue was up 23.6% on a year-over-year basis. On average, analysts anticipate that First Solar, Inc. will post 17.61 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Markus Gloeckler sold 420 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $90,564.60. Following the completion of the sale, the chief technology officer directly owned 10,896 shares in the company, valued at approximately $2,349,504.48. The trade was a 3.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Jason E. Dymbort sold 409 shares of the company's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $88,192.67. Following the sale, the general counsel directly owned 10,409 shares of the company's stock, valued at approximately $2,244,492.67. This represents a 3.78% decrease in their ownership of the stock. 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. Over the last ninety days, insiders have sold 32,466 shares of company stock valued at $8,014,105. Insiders own 0.39% of the company's stock.

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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