Stevens Capital Management LP Buys Shares of 9,589 First Solar, Inc. (NASDAQ:FSLR)

Stevens Capital Management LP purchased a new position in First Solar, Inc. (NASDAQ:FSLR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,589 shares of the solar cell manufacturer’s stock, valued at approximately $1,652,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in FSLR. Clean Energy Transition LLP increased its position in shares of First Solar by 948.8% during the 3rd quarter. Clean Energy Transition LLP now owns 1,186,646 shares of the solar cell manufacturer’s stock valued at $191,750,000 after purchasing an additional 1,073,500 shares during the last quarter. Barclays PLC increased its stake in shares of First Solar by 125.5% during the third quarter. Barclays PLC now owns 848,623 shares of the solar cell manufacturer’s stock valued at $137,130,000 after buying an additional 472,327 shares during the period. Covalis Capital LLP lifted its stake in First Solar by 615.6% in the third quarter. Covalis Capital LLP now owns 408,012 shares of the solar cell manufacturer’s stock worth $65,931,000 after acquiring an additional 350,996 shares during the period. Assenagon Asset Management S.A. increased its position in First Solar by 504.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock valued at $68,852,000 after purchasing an additional 333,496 shares during the period. Finally, Vanguard Group Inc. raised its holdings in First Solar by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock worth $1,945,549,000 after purchasing an additional 279,424 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insider Activity

In other news, Director R Craig Kennedy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the sale, the director now owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Georges Antoun sold 16,667 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the sale, the insider now directly owns 42,041 shares in the company, valued at approximately $6,539,477.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R Craig Kennedy sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00. Following the transaction, the director now owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,620 shares of company stock worth $4,269,540. Company insiders own 0.58% of the company’s stock.

First Solar Trading Up 2.1 %

Shares of FSLR stock traded up $3.71 during trading hours on Friday, reaching $178.73. 1,338,414 shares of the stock were exchanged, compared to its average volume of 2,076,650. The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $232.00. The firm has a market capitalization of $19.13 billion, a price-to-earnings ratio of 22.61, a price-to-earnings-growth ratio of 0.30 and a beta of 1.41. The company’s 50-day moving average price is $162.96 and its 200-day moving average price is $156.96.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.06. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.31 billion. First Solar had a return on equity of 13.80% and a net margin of 25.03%. First Solar’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.07) EPS. As a group, equities analysts anticipate that First Solar, Inc. will post 13.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Susquehanna reaffirmed a “positive” rating and set a $258.00 price objective on shares of First Solar in a research report on Friday, April 5th. Barclays boosted their price objective on shares of First Solar from $224.00 to $227.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Bank of America boosted their price target on First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Oppenheimer reiterated an “outperform” rating and set a $269.00 price objective on shares of First Solar in a research note on Wednesday, April 17th. Finally, Evercore ISI raised shares of First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 target price for the company in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $231.36.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.