Portolan Capital Management LLC Purchases Shares of 83,198 First Solar, Inc. $FSLR

Portolan Capital Management LLC purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 83,198 shares of the solar cell manufacturer’s stock, valued at approximately $18,348,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Linden Thomas Advisory Services LLC raised its holdings in First Solar by 1.7% during the third quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer’s stock worth $504,000 after purchasing an additional 39 shares during the last quarter. Signaturefd LLC grew its holdings in First Solar by 2.6% in the third quarter. Signaturefd LLC now owns 1,879 shares of the solar cell manufacturer’s stock valued at $414,000 after purchasing an additional 47 shares during the last quarter. Figure 8 Investment Strategies LLC increased its position in shares of First Solar by 0.6% in the third quarter. Figure 8 Investment Strategies LLC now owns 8,116 shares of the solar cell manufacturer’s stock valued at $1,790,000 after buying an additional 48 shares in the last quarter. Rathbones Group PLC increased its position in shares of First Solar by 1.0% in the third quarter. Rathbones Group PLC now owns 4,930 shares of the solar cell manufacturer’s stock valued at $1,087,000 after buying an additional 51 shares in the last quarter. Finally, Hemington Wealth Management raised its stake in shares of First Solar by 22.9% during the 3rd quarter. Hemington Wealth Management now owns 306 shares of the solar cell manufacturer’s stock worth $67,000 after buying an additional 57 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Buying and Selling at First Solar

In related news, insider Caroline Stockdale sold 1,041 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $190.36, for a total value of $198,164.76. Following the completion of the transaction, the insider directly owned 33,595 shares in the company, valued at approximately $6,395,144.20. This represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Nathan B. Theurer sold 324 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $195.70, for a total value of $63,406.80. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 47,761 shares of company stock valued at $9,276,424. 0.48% of the stock is currently owned by insiders.

First Solar Stock Performance

NASDAQ:FSLR opened at $196.07 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.67 and a quick ratio of 2.35. The firm has a market cap of $21.04 billion, a PE ratio of 13.80, a P/E/G ratio of 0.32 and a beta of 1.65. The firm has a 50 day simple moving average of $227.24 and a 200-day simple moving average of $235.86. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $285.99.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.38). The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.59 billion. First Solar had a return on equity of 17.32% and a net margin of 29.28%.The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.65 EPS. On average, equities analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wells Fargo & Company decreased 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 report on Thursday, February 26th. Glj Research downgraded shares of First Solar from a “buy” rating to a “hold” rating and dropped their target price for the company from $314.43 to $207.82 in a report on Wednesday, March 4th. Royal Bank Of Canada cut their target price on shares of First Solar from $258.00 to $236.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Argus reduced their price target on shares of First Solar from $300.00 to $250.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of First Solar in a research report on Monday, December 29th. Twenty analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $249.65.

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.