JT Stratford LLC Makes New $370,000 Investment in First Solar, Inc. (NASDAQ:FSLR)

JT Stratford LLC purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 2,098 shares of the solar cell manufacturer’s stock, valued at approximately $370,000.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in First Solar by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer’s stock valued at $2,259,697,000 after buying an additional 120,289 shares during the period. Geode Capital Management LLC raised its holdings in shares of First Solar by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer’s stock valued at $469,154,000 after acquiring an additional 63,739 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of First Solar by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer’s stock valued at $415,899,000 after acquiring an additional 262,482 shares in the last quarter. Invesco Ltd. boosted its position in shares of First Solar by 13.9% during the 4th quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer’s stock valued at $323,410,000 after acquiring an additional 223,933 shares during the last quarter. Finally, Amundi grew its holdings in shares of First Solar by 31.0% during the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock worth $336,871,000 after purchasing an additional 426,797 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Stock Down 4.3%

Shares of First Solar stock opened at $156.35 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $306.77. The company’s 50 day moving average price is $137.32 and its 200-day moving average price is $162.29. The stock has a market capitalization of $16.77 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 0.19 and a beta of 1.46.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $844.57 million during the quarter, compared to the consensus estimate of $863.11 million. During the same period last year, the business earned $2.20 EPS. First Solar’s revenue was up 6.4% on a year-over-year basis. Equities research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Buying and Selling

In related news, CFO Alexander R. Bradley sold 599 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $80,116.25. Following the completion of the transaction, the chief financial officer now owns 45,717 shares in the company, valued at $6,114,648.75. This represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 1,966 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $262,952.50. Following the completion of the sale, the chief executive officer now directly owns 111,890 shares of the company’s stock, valued at $14,965,287.50. The trade was a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock valued at $4,767,158 over the last ninety days. 0.48% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FSLR. JPMorgan Chase & Co. lowered their target price on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. UBS Group restated a “buy” rating and set a $255.00 price objective on shares of First Solar in a research report on Wednesday, May 14th. Piper Sandler cut their target price on shares of First Solar from $230.00 to $205.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. TD Cowen reduced their target price on First Solar from $275.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Finally, Wolfe Research raised First Solar from a “peer perform” rating to an “outperform” rating and set a $221.00 price target for the company in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, First Solar currently has an average rating of “Moderate Buy” and an average target price of $226.30.

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.