Jupiter Topco LLC Purchases Shares of 25,951 First Solar, Inc. $FSLR

Jupiter Topco LLC purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 25,951 shares of the solar cell manufacturer’s stock, valued at approximately $6,121,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Commonwealth Retirement Investments LLC purchased a new position in shares of First Solar during the 4th quarter valued at about $26,000. Reflection Asset Management purchased a new stake in First Solar in the fourth quarter worth approximately $26,000. Strategic Wealth Investment Group LLC purchased a new stake in First Solar in the second quarter worth approximately $26,000. Larson Financial Group LLC grew its position in First Solar by 117.0% during the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. Finally, Elyxium Wealth LLC bought a new position in First Solar during the fourth quarter valued at approximately $30,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Price Performance

Shares of First Solar stock opened at $201.90 on Tuesday. First Solar, Inc. has a one year low of $182.99 and a one year high of $320.95. The business’s 50 day simple moving average is $222.19 and its two-hundred day simple moving average is $223.22. The stock has a market capitalization of $21.69 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 0.45 and a beta of 1.76.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $1.02. First Solar had a return on equity of 18.02% and a net margin of 32.47%.The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the firm posted $3.18 earnings per share. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. Sell-side analysts expect that First Solar, Inc. will post 17.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

FSLR has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of First Solar from $300.00 to $313.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Guggenheim increased their target price on shares of First Solar from $279.00 to $282.00 and gave the company a “buy” rating in a report on Monday, August 3rd. UBS Group lifted their target price on shares of First Solar from $290.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Morgan Stanley lifted their target price on shares of First Solar from $245.00 to $323.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 18th. Finally, Susquehanna boosted their price target on shares of First Solar from $250.00 to $270.00 and gave the stock a “positive” rating in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $266.27.

Insider Activity

In other First Solar news, EVP Samantha L. Sloan sold 127 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $222.95, for a total value of $28,314.65. Following the transaction, the executive vice president owned 2,018 shares in the company, valued at approximately $449,913.10. The trade was a 5.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Markus Gloeckler sold 829 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $248.00, for a total transaction of $205,592.00. Following the transaction, the chief technology officer directly owned 6,642 shares of the company’s stock, valued at approximately $1,647,216. This trade represents a 11.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 15,081 shares of company stock valued at $3,457,086. 0.39% of the stock is owned by corporate insiders.

First Solar Profile

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.