Lombard Odier Asset Management USA Corp Reduces Stock Holdings in First Solar, Inc. $FSLR

Lombard Odier Asset Management USA Corp trimmed its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 78.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,754 shares of the solar cell manufacturer’s stock after selling 34,529 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in First Solar were worth $2,151,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at First Solar

In other First Solar news, insider Patrick James Buehler sold 697 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 $132,680.92. Following the sale, the insider directly owned 6,841 shares in the company, valued at $1,302,252.76. This represents a 9.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Georges Antoun sold 791 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $190.36, for a total transaction of $150,574.76. Following the completion of the transaction, the insider directly owned 18,784 shares of the company’s stock, valued at approximately $3,575,722.24. The trade was a 4.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 47,761 shares of company stock worth $9,276,424 in the last ninety days. Insiders own 0.48% of the company’s stock.

First Solar Stock Up 1.7%

FSLR stock opened at $199.48 on Tuesday. The stock has a 50-day simple moving average of $225.79 and a two-hundred day simple moving average of $236.47. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $285.99. The firm has a market capitalization of $21.41 billion, a PE ratio of 14.04, a PEG ratio of 0.32 and a beta of 1.65. The company has a quick ratio of 2.35, a current ratio of 2.67 and a debt-to-equity ratio of 0.03.

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 analysts’ consensus estimates of $5.22 by ($0.38). First Solar had a return on equity of 17.32% and a net margin of 29.28%.The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the previous year, the company posted $3.65 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Freedom Capital downgraded shares of First Solar from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Wells Fargo & Company reduced their target price on shares of First Solar from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. JPMorgan Chase & Co. lowered their price target on shares of First Solar from $303.00 to $256.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Wolfe Research cut shares of First Solar from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Finally, TD Cowen cut their price objective on shares of First Solar from $320.00 to $253.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Twenty investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.