XTX Topco Ltd Buys New Shares in First Solar, Inc. (NASDAQ:FSLR)

Key Points

• XTX Topco Ltd has invested approximately $469,000 in First Solar, Inc. (NASDAQ:FSLR), acquiring 3,710 shares, as reported in its latest 13F filing.
• Insider sales have seen Patrick James Buehler and Markus Gloeckler offload significant portions of their holdings, with Buehler selling 1,600 shares and Gloeckler selling 9,557 shares, resulting in notable decreases in their ownership positions.
• First Solar reported a quarterly EPS of $3.18, surpassing analysts' expectations, along with a revenue of $1.10 billion, indicating an 8.6% year-over-year growth.

XTX Topco Ltd purchased a new stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,710 shares of the solar cell manufacturer's stock, valued at approximately $469,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Demars Financial Group LLC increased its stake in First Solar by 17,404.5% in the 4th quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer's stock valued at $127,379,000 after buying an additional 718,631 shares during the last quarter. Royal Bank of Canada increased its stake in First Solar by 218.6% in the 4th quarter. Royal Bank of Canada now owns 446,799 shares of the solar cell manufacturer's stock valued at $78,744,000 after buying an additional 306,581 shares during the last quarter. Northern Trust Corp increased its stake in First Solar by 30.7% in the 4th quarter. Northern Trust Corp now owns 1,248,552 shares of the solar cell manufacturer's stock valued at $220,045,000 after buying an additional 293,134 shares during the last quarter. Encompass Capital Advisors LLC increased its stake in First Solar by 445.5% in the 4th quarter. Encompass Capital Advisors LLC now owns 329,718 shares of the solar cell manufacturer's stock valued at $58,110,000 after buying an additional 269,273 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in First Solar by 26.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,249,600 shares of the solar cell manufacturer's stock valued at $220,250,000 after buying an additional 261,480 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on FSLR. Piper Sandler decreased their price objective on shares of First Solar from $230.00 to $205.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. BMO Capital Markets increased their price objective on shares of First Solar from $194.00 to $203.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Oppenheimer lowered shares of First Solar from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 30th. TD Cowen increased their price objective on shares of First Solar from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada raised their price target on shares of First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $224.27.

First Solar Price Performance

First Solar stock traded up $4.56 during midday trading on Tuesday, hitting $186.69. 705,933 shares of the company's stock were exchanged, compared to its average volume of 3,786,043. The company has a market cap of $20.02 billion, a P/E ratio of 16.02, a PEG ratio of 0.36 and a beta of 1.48. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The stock has a 50-day moving average price of $169.26 and a two-hundred day moving average price of $153.07. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping the consensus estimate of $2.68 by $0.50. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%. First Solar's revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.25 earnings per share. On average, equities research analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Buying and Selling at First Solar

In related news, insider Michael Koralewski sold 2,951 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $158.21, for a total value of $466,877.71. Following the completion of the transaction, the insider directly owned 11,369 shares in the company, valued at approximately $1,798,689.49. The trade was a 20.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick James Buehler sold 1,600 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $180.00, for a total value of $288,000.00. Following the completion of the transaction, the insider directly owned 4,398 shares in the company, valued at approximately $791,640. This represents a 26.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,976 shares of company stock worth $2,515,172 over the last three months. 0.48% of the stock is owned by insiders.

First Solar Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.