OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Takes Position in First Solar, Inc. $FSLR

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) during the 4th quarter, Holdings Channel reports. The fund purchased 11,300 shares of the solar cell manufacturer’s stock, valued at approximately $2,952,000.

Several other hedge funds have also recently bought and sold shares of FSLR. Apollon Wealth Management LLC boosted its position in First Solar by 1.2% during the 4th quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer’s stock worth $942,000 after acquiring an additional 44 shares during the period. Root Financial Partners LLC increased its holdings in shares of First Solar by 18.2% in the 4th quarter. Root Financial Partners LLC now owns 292 shares of the solar cell manufacturer’s stock valued at $76,000 after purchasing an additional 45 shares during the period. FIL Ltd increased its holdings in shares of First Solar by 6.9% in the 4th quarter. FIL Ltd now owns 708 shares of the solar cell manufacturer’s stock valued at $185,000 after purchasing an additional 46 shares during the period. Fielder Capital Group LLC lifted its position in shares of First Solar by 4.1% in the fourth quarter. Fielder Capital Group LLC now owns 1,196 shares of the solar cell manufacturer’s stock worth $312,000 after purchasing an additional 47 shares in the last quarter. Finally, Burford Brothers Inc. lifted its position in shares of First Solar by 0.3% in the fourth quarter. Burford Brothers Inc. now owns 19,080 shares of the solar cell manufacturer’s stock worth $4,984,000 after purchasing an additional 48 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Price Performance

FSLR stock opened at $257.70 on Friday. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. First Solar, Inc. has a 1 year low of $139.26 and a 1 year high of $320.95. The company has a fifty day simple moving average of $238.53 and a 200 day simple moving average of $233.45. The firm has a market cap of $27.69 billion, a PE ratio of 16.65, a PEG ratio of 0.57 and a beta of 1.71.

First Solar (NASDAQ:FSLR) 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. Sell-side analysts anticipate that First Solar, Inc. will post 17.61 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on FSLR. Wells Fargo & Company dropped their price objective on shares of First Solar from $285.00 to $255.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Citigroup decreased their target price on shares of First Solar from $300.00 to $243.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Jefferies Financial Group lowered their price target on shares of First Solar from $205.00 to $187.00 and set a “hold” rating on the stock in a report on Tuesday, April 7th. Glj Research downgraded shares of First Solar from a “buy” rating to a “hold” rating and dropped their price target for the stock from $314.43 to $207.82 in a research note on Wednesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft lowered First Solar from a “buy” rating to a “hold” rating and cut their price objective for the stock from $300.00 to $245.00 in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and an average target price of $249.78.

Insider Buying and Selling

In related news, CTO Markus Gloeckler sold 420 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 $90,564.60. Following the sale, the chief technology officer directly owned 10,896 shares of the company’s stock, valued at $2,349,504.48. This trade represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total value of $88,192.67. Following the completion of the transaction, the general counsel directly owned 10,409 shares of the company’s stock, valued at approximately $2,244,492.67. This trade represents a 3.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 32,466 shares of company stock valued at $8,014,105 in the last ninety days. Company insiders own 0.39% of the company’s stock.

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.