Tairen Capital Ltd Purchases 15,000 Shares of First Solar, Inc. (NASDAQ:FSLR)

Tairen Capital Ltd grew its position in First Solar, Inc. (NASDAQ:FSLR) by 150.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,000 shares of the solar cell manufacturer’s stock after acquiring an additional 15,000 shares during the period. Tairen Capital Ltd’s holdings in First Solar were worth $4,406,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Siemens Fonds Invest GmbH raised its stake in shares of First Solar by 147.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 2,749 shares of the solar cell manufacturer’s stock valued at $484,000 after acquiring an additional 1,640 shares during the last quarter. Shell Asset Management Co. raised its stake in shares of First Solar by 22.7% in the fourth quarter. Shell Asset Management Co. now owns 3,333 shares of the solar cell manufacturer’s stock valued at $587,000 after acquiring an additional 617 shares during the last quarter. SIR Capital Management L.P. bought a new position in shares of First Solar in the fourth quarter valued at approximately $4,811,000. Sora Investors LLC bought a new position in shares of First Solar in the fourth quarter valued at approximately $23,297,000. Finally, Royal Bank of Canada raised its stake in shares of First Solar by 218.6% in the fourth quarter. Royal Bank of Canada now owns 446,799 shares of the solar cell manufacturer’s stock valued at $78,744,000 after acquiring an additional 306,581 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on FSLR shares. Citigroup dropped their price objective on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Piper Sandler dropped their price objective 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. JPMorgan Chase & Co. dropped their price objective on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Wolfe Research upgraded shares of First Solar from a “peer perform” rating to an “outperform” rating and set a $221.00 price objective for the company in a research report on Tuesday, May 13th. Finally, StockNews.com cut shares of First Solar from a “hold” rating to a “sell” rating in a research report on Friday, May 2nd. Two investment 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 issued a strong buy rating to the stock. Based on data from MarketBeat, First Solar presently has an average rating of “Moderate Buy” and an average price target of $224.48.

First Solar Price Performance

Shares of FSLR stock opened at $178.46 on Friday. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $306.77. The firm has a market capitalization of $19.14 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 0.19 and a beta of 1.46. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a fifty day moving average of $134.97 and a 200-day moving average of $163.14.

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 the consensus estimate of $2.50 by ($0.55). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. During the same period last year, the firm earned $2.20 EPS. First Solar’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities research analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Activity

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $136.60, for a total value of $1,021,085.00. Following the completion of the transaction, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. This represents a 67.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alexander R. Bradley sold 599 shares of the company’s stock in a transaction 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 directly owns 45,717 shares of the company’s stock, valued at approximately $6,114,648.75. The trade was a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock valued at $4,767,158 in the last quarter. Company insiders own 0.48% of the company’s stock.

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.