WINTON GROUP Ltd Acquires 38,328 Shares of First Solar, Inc. $FSLR

WINTON GROUP Ltd lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 342.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,533 shares of the solar cell manufacturer’s stock after purchasing an additional 38,328 shares during the period. WINTON GROUP Ltd’s holdings in First Solar were worth $10,924,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in FSLR. Strategic Wealth Investment Group LLC acquired a new position in First Solar in the second quarter valued at approximately $26,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of First Solar in the 3rd quarter valued at $44,000. Total Investment Management Inc. bought a new stake in shares of First Solar in the 2nd quarter valued at $36,000. NBT Bank N A NY lifted its position in shares of First Solar by 550.0% during the 3rd quarter. NBT Bank N A NY now owns 221 shares of the solar cell manufacturer’s stock valued at $49,000 after acquiring an additional 187 shares during the period. Finally, Mather Group LLC. bought a new position in First Solar during the third quarter worth $52,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Activity at First Solar

In related news, CTO Markus Gloeckler sold 3,640 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $196.95, for a total transaction of $716,898.00. Following the transaction, the chief technology officer directly owned 8,037 shares of the company’s stock, valued at $1,582,887.15. This trade represents a 31.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Jason E. Dymbort sold 3,273 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $195.93, for a total transaction of $641,278.89. Following the completion of the sale, the general counsel directly owned 16,625 shares of the company’s stock, valued at $3,257,336.25. The trade was a 16.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 31,975 shares of company stock valued at $6,267,492 over the last three months. Insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

FSLR has been the topic of several research reports. Evercore dropped their price objective on shares of First Solar from $241.00 to $212.00 in a report on Thursday. Guggenheim raised their target price on First Solar from $289.00 to $312.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Wall Street Zen downgraded First Solar from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. JPMorgan Chase & Co. cut their price target on First Solar from $303.00 to $256.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Finally, Raymond James Financial initiated coverage on First Solar in a research note on Monday, January 12th. They issued a “market perform” rating for the company. Twenty investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.65.

First Solar Stock Performance

Shares of First Solar stock opened at $189.21 on Monday. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $285.99. The company has a quick ratio of 2.35, a current ratio of 2.67 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average price of $234.09 and a 200-day moving average price of $236.42. The company has a market cap of $20.30 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 0.30 and a beta of 1.65.

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