OP Asset Management Ltd Acquires Shares of 15,655 First Solar, Inc. $FSLR

OP Asset Management Ltd acquired a new stake in First Solar, Inc. (NASDAQ:FSLR) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,655 shares of the solar cell manufacturer’s stock, valued at approximately $3,088,000.

A number of other hedge funds have also modified their holdings of FSLR. Atlatl Advisers LLC purchased a new stake in shares of First Solar in the fourth quarter valued at about $1,697,000. Northwestern Mutual Wealth Management Co. increased its position in First Solar by 1,054.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 52,219 shares of the solar cell manufacturer’s stock valued at $13,641,000 after acquiring an additional 47,695 shares during the period. Lee Johnson Capital Management LLC acquired a new position in First Solar in the 4th quarter valued at about $5,304,000. Clean Energy Transition LLP raised its stake in First Solar by 48.2% during the 3rd quarter. Clean Energy Transition LLP now owns 1,117,228 shares of the solar cell manufacturer’s stock valued at $246,382,000 after acquiring an additional 363,274 shares during the last quarter. Finally, Genus Capital Management Inc. purchased a new stake in First Solar during the 4th quarter valued at approximately $4,525,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FSLR has been the topic of a number of recent research reports. Zacks Research raised First Solar from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Guggenheim lifted their price objective on shares of First Solar from $269.00 to $279.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. BMO Capital Markets dropped their price objective on shares of First Solar from $252.00 to $237.00 and set a “market perform” rating on the stock in a research note on Monday, April 20th. Freedom Capital upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Finally, Susquehanna reduced their target price on shares of First Solar from $280.00 to $250.00 and set a “positive” rating for the company in a research note on Thursday, April 9th. 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $249.78.

Insider Buying and Selling at First Solar

In related news, insider Kuntal Kumar Verma sold 582 shares of First Solar stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $250.00, for a total transaction of $145,500.00. Following the completion of the transaction, the insider directly owned 4,967 shares of the company’s stock, valued at approximately $1,241,750. The trade was a 10.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark R. Widmar sold 4,815 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $247.43, for a total value of $1,191,375.45. Following the completion of the sale, the chief executive officer directly owned 89,033 shares in the company, valued at $22,029,435.19. This trade represents a 5.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 32,466 shares of company stock worth $8,014,105. Corporate insiders own 0.39% of the company’s stock.

Key Headlines Impacting First Solar

Here are the key news stories impacting First Solar this week:

• Negative Sentiment: Several firms, including Howard G. Smith, Bronstein Gewirtz & Grossman, Rosen Law, Pomerantz, Portnoy, and the Schall Law Firm, announced or promoted class-action cases tied to First Solar, increasing legal overhang and headline risk. Article Title
• Negative Sentiment: Multiple securities-fraud investigations were also launched or reiterated by plaintiff firms, suggesting investors are actively probing whether earlier company disclosures may have been misleading. Article Title
• Neutral Sentiment: One Zacks item called First Solar a strong growth stock, which is supportive on fundamentals, but it appears to be a generic rating piece rather than a new company-specific catalyst. Article Title

First Solar Stock Performance

NASDAQ:FSLR opened at $239.07 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. First Solar, Inc. has a fifty-two week low of $149.54 and a fifty-two week high of $320.95. The stock has a market cap of $25.69 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 0.53 and a beta of 1.71. The firm’s fifty day simple moving average is $243.56 and its 200-day simple moving average is $233.11.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data 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 net margin of 30.73% and a return on equity of 18.01%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm earned $1.95 earnings per share. The firm’s revenue was up 23.6% on a year-over-year basis. Analysts expect that First Solar, Inc. will post 17.61 earnings per share for the current fiscal year.

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.