4,309 Shares in First Solar, Inc. $FSLR Purchased by Joule Financial LLC

Joule Financial LLC acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 4,309 shares of the solar cell manufacturer’s stock, valued at approximately $950,000.

Other hedge funds also recently modified their holdings of the company. Signaturefd LLC increased its holdings in First Solar by 2.6% during the 3rd quarter. Signaturefd LLC now owns 1,879 shares of the solar cell manufacturer’s stock valued at $414,000 after purchasing an additional 47 shares in the last quarter. Figure 8 Investment Strategies LLC grew its holdings in shares of First Solar by 0.6% during the third quarter. Figure 8 Investment Strategies LLC now owns 8,116 shares of the solar cell manufacturer’s stock worth $1,790,000 after purchasing an additional 48 shares during the last quarter. Hemington Wealth Management increased its stake in shares of First Solar by 22.9% in the third quarter. Hemington Wealth Management now owns 306 shares of the solar cell manufacturer’s stock valued at $67,000 after buying an additional 57 shares in the last quarter. Ethic Inc. raised its holdings in shares of First Solar by 0.3% in the third quarter. Ethic Inc. now owns 20,443 shares of the solar cell manufacturer’s stock valued at $4,508,000 after buying an additional 59 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its position in First Solar by 13.4% during the 2nd quarter. Penserra Capital Management LLC now owns 560 shares of the solar cell manufacturer’s stock worth $92,000 after buying an additional 66 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of FSLR stock opened at $249.41 on Thursday. The stock has a market cap of $26.76 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 0.30 and a beta of 1.60. The stock has a 50-day moving average of $256.66 and a 200-day moving average of $229.06. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.91 and a quick ratio of 1.55. First Solar, Inc. has a one year low of $116.56 and a one year high of $285.99.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). First Solar had a net margin of 27.73% and a return on equity of 16.61%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the firm posted $2.91 EPS. The firm’s revenue for the quarter was up 79.7% compared to the same quarter last year. As a group, sell-side analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays reaffirmed an “overweight” rating and issued a $279.00 target price on shares of First Solar in a research note on Monday, November 3rd. Mizuho boosted their price objective on shares of First Solar from $278.00 to $335.00 in a research report on Friday, October 31st. Wall Street Zen upgraded First Solar from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $316.00 price target on shares of First Solar in a research note on Friday, October 31st. Finally, Evercore ISI lifted their price objective on First Solar from $240.90 to $241.00 in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $275.94.

Insider Activity

In other First Solar news, insider Georges Antoun sold 37,412 shares of First Solar stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $265.01, for a total transaction of $9,914,554.12. Following the transaction, the insider directly owned 15,424 shares in the company, valued at approximately $4,087,514.24. The trade was a 70.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul H. Stebbins sold 7,000 shares of First Solar stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $262.40, for a total value of $1,836,800.00. Following the transaction, the director owned 15,287 shares in the company, valued at $4,011,308.80. This trade represents a 31.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 48,912 shares of company stock valued at $12,971,349 in the last quarter. Company insiders own 0.48% of the company’s stock.

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.