Fieldview Capital Management LLC Buys Shares of 2,445 First Solar, Inc. $FSLR

Fieldview Capital Management LLC bought a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, Holdings Channel reports. The fund bought 2,445 shares of the solar cell manufacturer’s stock, valued at approximately $639,000.

A number of other hedge funds have also made changes to their positions in the company. Aventura Private Wealth LLC acquired a new stake in shares of First Solar in the fourth quarter valued at approximately $25,000. Commonwealth Retirement Investments LLC acquired a new stake in shares of First Solar in the fourth quarter valued at approximately $26,000. Strategic Wealth Investment Group LLC acquired a new stake in shares of First Solar in the second quarter valued at approximately $26,000. Larson Financial Group LLC increased its holdings in shares of First Solar by 117.0% in the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Finally, Elyxium Wealth LLC acquired a new stake in shares of First Solar in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Buying and Selling

In related news, insider Caroline Stockdale sold 10,628 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $275.60, for a total value of $2,929,076.80. Following the completion of the transaction, the insider directly owned 23,792 shares in the company, valued at approximately $6,557,075.20. This represents a 30.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark R. Widmar sold 9,926 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $233.21, for a total value of $2,314,842.46. Following the completion of the transaction, the chief executive officer owned 95,148 shares of the company’s stock, valued at $22,189,465.08. The trade was a 9.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 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.

Analyst Upgrades and Downgrades

Several research firms recently commented on FSLR. Jefferies Financial Group cut their price target on First Solar from $205.00 to $187.00 and set a “hold” rating for the company in a report on Tuesday, April 7th. JPMorgan Chase & Co. cut their price target on First Solar from $303.00 to $256.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Wolfe Research cut First Solar from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Argus increased their price target on First Solar from $250.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Finally, HSBC increased their price target on First Solar from $211.00 to $231.00 and gave the company a “hold” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $250.99.

First Solar Trading Up 2.3%

Shares of First Solar stock opened at $273.51 on Tuesday. The firm has a market capitalization of $29.39 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 0.59 and a beta of 1.70. First Solar, Inc. has a fifty-two week low of $135.50 and a fifty-two week high of $320.95. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. The stock has a 50 day moving average of $233.52 and a 200 day moving average of $233.56.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.35. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The firm’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.95 earnings per share. As a group, research analysts predict that First Solar, Inc. will post 17.61 earnings per share for the current 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.