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

Portolan Capital Management LLC purchased a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 83,198 shares of the solar cell manufacturer’s stock, valued at approximately $18,348,000. Portolan Capital Management LLC owned about 0.08% of First Solar as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Woodline Partners LP lifted its position in First Solar by 40.7% during the first quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock valued at $1,143,000 after acquiring an additional 2,615 shares during the last quarter. Penserra Capital Management LLC grew its holdings in First Solar by 13.4% in the second quarter. Penserra Capital Management LLC now owns 560 shares of the solar cell manufacturer’s stock worth $92,000 after purchasing an additional 66 shares during the last quarter. Prospera Financial Services Inc grew its holdings in First Solar by 13.6% in the second quarter. Prospera Financial Services Inc now owns 3,159 shares of the solar cell manufacturer’s stock worth $523,000 after purchasing an additional 378 shares during the last quarter. Allworth Financial LP increased its position in shares of First Solar by 33.4% during the second quarter. Allworth Financial LP now owns 903 shares of the solar cell manufacturer’s stock worth $149,000 after purchasing an additional 226 shares in the last quarter. Finally, Vise Technologies Inc. purchased a new stake in shares of First Solar during the 2nd quarter valued at $431,000. 92.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. BMO Capital Markets set a $263.00 price objective on First Solar in a research report on Thursday, January 29th. DZ Bank raised First Solar to a “strong sell” rating in a research report on Thursday, February 26th. Deutsche Bank Aktiengesellschaft downgraded First Solar from a “buy” rating to a “hold” rating and lowered their price target for the stock from $300.00 to $245.00 in a report on Wednesday, February 25th. Needham & Company LLC boosted their price target on First Solar from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Finally, HSBC restated a “hold” rating and set a $211.00 price objective (down from $280.00) on shares of First Solar in a report on Wednesday, February 25th. Twenty investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $249.65.

Insider Transactions at First Solar

In related news, EVP Samantha L. Sloan sold 303 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $190.36, for a total value of $57,679.08. Following the transaction, the executive vice president owned 1,523 shares in the company, valued at approximately $289,918.28. This represents a 16.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark R. Widmar sold 5,537 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $190.36, for a total transaction of $1,054,023.32. Following the transaction, the chief executive officer directly owned 99,879 shares of the company’s stock, valued at $19,012,966.44. This represents a 5.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 47,761 shares of company stock valued at $9,276,424 over the last quarter. Company insiders own 0.48% of the company’s stock.

First Solar Stock Performance

Shares of FSLR opened at $196.07 on Friday. The stock has a 50-day moving average of $227.24 and a two-hundred day moving average of $235.86. First Solar, Inc. has a one year low of $116.56 and a one year high of $285.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.35 and a current ratio of 2.67. The stock has a market cap of $21.04 billion, a P/E ratio of 13.80, a P/E/G ratio of 0.32 and a beta of 1.65.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.38). First Solar had a net margin of 29.28% and a return on equity of 17.32%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the company posted $3.65 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

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.