Oxford Asset Management LLP Takes Position in First Solar, Inc. (NASDAQ:FSLR)

Oxford Asset Management LLP purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, HoldingsChannel reports. The fund purchased 1,943 shares of the solar cell manufacturer’s stock, valued at approximately $335,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of FSLR. TCW Group Inc. bought a new position in First Solar in the 4th quarter worth approximately $2,584,000. US Bancorp DE raised its holdings in shares of First Solar by 2.2% in the fourth quarter. US Bancorp DE now owns 25,882 shares of the solar cell manufacturer’s stock valued at $4,459,000 after purchasing an additional 563 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its holdings in First Solar by 56.8% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,867 shares of the solar cell manufacturer’s stock worth $322,000 after buying an additional 676 shares during the last quarter. Dai ichi Life Insurance Company Ltd acquired a new stake in First Solar during the 4th quarter worth approximately $528,000. Finally, Quest Partners LLC bought a new position in First Solar in the 4th quarter valued at about $119,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at First Solar

In other news, Director Richard D. Chapman sold 3,165 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $190.48, for a total transaction of $602,869.20. Following the completion of the transaction, the director now owns 1,045 shares in the company, valued at $199,051.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other First Solar news, Director R Craig Kennedy sold 1,500 shares of the business’s stock in a transaction on Friday, March 1st. The shares were 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 in the company, valued at $2,467,524.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard D. Chapman sold 3,165 shares of First Solar stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $190.48, for a total transaction of $602,869.20. Following the transaction, the director now directly owns 1,045 shares of the company’s stock, valued at $199,051.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,455 shares of company stock valued at $9,617,472. Company insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

FSLR has been the subject of several research analyst reports. Bank of America upped their price target on shares of First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. boosted their target price on shares of First Solar from $240.00 to $262.00 and gave the company an “overweight” rating in a research report on Thursday. Janney Montgomery Scott initiated coverage on First Solar in a report on Friday, April 12th. They set a “buy” rating and a $236.00 price objective for the company. Roth Mkm restated a “buy” rating and set a $230.00 price objective on shares of First Solar in a research note on Thursday, April 18th. Finally, Jefferies Financial Group increased their target price on shares of First Solar from $209.50 to $211.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $239.16.

First Solar Stock Performance

Shares of NASDAQ:FSLR traded down $1.94 during midday trading on Thursday, reaching $249.81. 4,871,006 shares of the company’s stock traded hands, compared to its average volume of 2,224,921. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41. The company has a market cap of $26.74 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 0.28 and a beta of 1.37. The stock has a 50 day moving average of $177.74 and a 200 day moving average of $162.86. First Solar, Inc. has a one year low of $129.21 and a one year high of $253.99.

First Solar (NASDAQ:FSLR) last posted its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The business had revenue of $794.10 million during the quarter, compared to the consensus estimate of $718.19 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The firm’s revenue was up 44.8% on a year-over-year basis. As a group, equities research analysts anticipate that First Solar, Inc. will post 13.56 EPS for the current fiscal year.

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.