First Solar, Inc. $FSLR Stock: Guild Investment Management Inc. Grows Position

Guild Investment Management Inc. increased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 29.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 22,183 shares of the solar cell manufacturer’s stock after buying an additional 5,073 shares during the quarter. First Solar accounts for about 2.5% of Guild Investment Management Inc.’s holdings, making the stock its 18th biggest position. Guild Investment Management Inc.’s holdings in First Solar were worth $3,886,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp purchased a new stake in First Solar in the third quarter valued at approximately $32,000. Clearstead Trust LLC acquired a new stake in shares of First Solar in the second quarter valued at approximately $34,000. Vega Investment Solutions purchased a new position in shares of First Solar during the second quarter worth approximately $40,000. Rakuten Securities Inc. purchased a new position in shares of First Solar during the second quarter worth approximately $44,000. Finally, Allied Private Wealth LLC purchased a new position in shares of First Solar during the second quarter worth approximately $45,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Sanford C. Bernstein cut their target price on shares of First Solar from $197.00 to $169.00 and set an “underperform” rating on the stock in a report on Friday, October 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of First Solar in a research note on Friday, October 30th. Morgan Stanley lowered their price objective on shares of First Solar from $326.00 to $307.00 and set an “overweight” rating on the stock in a research report on Friday, October 30th. Argus restated a “buy” rating and issued a $275.00 price objective on shares of First Solar in a research note on Wednesday, August 26th. Finally, Evercore reaffirmed a “positive” rating and issued a $218.00 target price on shares of First Solar in a report on Monday, August 17th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $257.38.

Insider Activity at First Solar

In other First Solar news, General Counsel Jason E. Dymbort sold 3,700 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $249.38, for a total transaction of $922,706.00. Following the completion of the transaction, the general counsel owned 5,624 shares in the company, valued at approximately $1,402,513.12. This represents a 39.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Samantha L. Sloan sold 127 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $222.95, for a total transaction of $28,314.65. Following the completion of the sale, the executive vice president owned 2,018 shares of the company’s stock, valued at $449,913.10. This trade represents a 5.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 5,427 shares of company stock worth $1,250,221 in the last three months. Insiders own 0.39% of the company’s stock.

Trending Headlines about First Solar

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

• Positive Sentiment: William Blair raised its rating on First Solar from “market perform” to “outperform.” The firm sees Democratic gains as potentially supporting utility-scale solar projects, although new bookings may take time to materialize. First Solar raised at William Blair as Democrat Congress seen boosting support
• Positive Sentiment: First Solar announced a $500 million share repurchase program and opened a manufacturing facility in Gaffney, South Carolina, expanding its U.S. production footprint and adding regional jobs. Democratic Sweep Could Be A Big Deal For First Solar Stock First Solar Opens South Carolina Plant
• Negative Sentiment: The company lowered its full-year net sales and module-shipment outlook. Its third-quarter results were mixed: EPS beat expectations, but revenue fell short of estimates and was down year over year, which may temper the positive policy and buyback news. Democratic Sweep Could Be A Big Deal For First Solar Stock

First Solar Trading Up 2.7%

Shares of FSLR stock opened at $201.14 on Friday. The business’s 50 day moving average is $186.99 and its two-hundred day moving average is $214.96. First Solar, Inc. has a twelve month low of $165.86 and a twelve month high of $320.95. The company has a market capitalization of $21.62 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 0.55 and a beta of 1.73.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, October 29th. The solar cell manufacturer reported $5.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.63. First Solar had a return on equity of 18.33% and a net margin of 37.12%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the company posted $4.24 earnings per share. The company’s revenue for the quarter was down 22.8% compared to the same quarter last year. As a group, equities analysts predict that First Solar, Inc. will post 17.66 earnings per share for the current fiscal year.

First Solar Profile

First Solar, Inc is a U.S.-based solar technology company that designs and manufactures photovoltaic modules for utility-scale solar power projects. Its products use thin-film cadmium telluride (CdTe) technology, an alternative to the crystalline-silicon cells commonly used in solar panels.

Founded in 1999, the company also provides services related to its modules, including recycling designed to recover and reuse materials at the end of a product’s useful life. First Solar serves customers in markets across the Americas, Europe, and Asia-Pacific.

The company is headquartered in Tempe, Arizona.