RWC Asset Management LLP Sells 23,991 Shares of First Solar, Inc. $FSLR

RWC Asset Management LLP lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 36.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,424 shares of the solar cell manufacturer’s stock after selling 23,991 shares during the quarter. RWC Asset Management LLP’s holdings in First Solar were worth $10,821,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FSLR. Aventura Private Wealth LLC bought a new position in shares of First Solar in the fourth quarter worth $25,000. Strategic Wealth Investment Group LLC bought a new position in shares of First Solar in the second quarter worth $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 worth $27,000 after purchasing an additional 55 shares during the period. Elyxium Wealth LLC bought a new position in shares of First Solar in the fourth quarter worth $30,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of First Solar in the third quarter worth $44,000. Institutional investors own 92.08% of the company’s stock.

Insider Buying and Selling at First Solar

In other First Solar news, CEO Mark R. Widmar sold 9,926 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $233.21, for a total transaction 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 approximately $22,189,465.08. This trade represents a 9.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alexander R. Bradley sold 14,106 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $199.97, for a total transaction of $2,820,776.82. Following the transaction, the chief financial officer directly owned 30,000 shares of the company’s stock, valued at $5,999,100. This represents a 31.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 61,426 shares of company stock valued at $13,802,836. 0.39% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

FSLR has been the topic of a number of research analyst reports. Guggenheim increased their target price on First Solar from $269.00 to $279.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Jefferies Financial Group reduced their target price on First Solar from $205.00 to $187.00 and set a “hold” rating on the stock in a research note on Tuesday, April 7th. Freedom Capital raised First Solar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. reduced their target price on First Solar from $303.00 to $256.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Finally, Royal Bank Of Canada reduced their target price on First Solar from $258.00 to $236.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. One investment 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 issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $247.40.

First Solar Stock Performance

First Solar stock opened at $279.01 on Monday. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average of $224.60 and a 200-day moving average of $233.01. The firm has a market cap of $29.98 billion, a P/E ratio of 18.02, a P/E/G ratio of 0.62 and a beta of 1.70. First Solar, Inc. has a 1-year low of $135.50 and a 1-year high of $320.95.

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

About First Solar

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.