L & S Advisors Inc Invests $2.50 Million in First Solar, Inc. $FSLR

L & S Advisors Inc purchased a new position in First Solar, Inc. (NASDAQ:FSLR) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 9,574 shares of the solar cell manufacturer’s stock, valued at approximately $2,501,000.

A number of other large investors also recently modified their holdings of FSLR. Aventura Private Wealth LLC bought a new position in shares of First Solar in the 4th quarter worth about $25,000. Strategic Wealth Investment Group LLC bought a new position in shares of First Solar in the 2nd quarter worth about $26,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of First Solar in the 3rd quarter worth about $44,000. Torren Management LLC bought a new position in shares of First Solar in the 4th quarter worth about $47,000. Finally, NBT Bank N A NY lifted its position in shares of First Solar by 550.0% in the 3rd quarter. NBT Bank N A NY now owns 221 shares of the solar cell manufacturer’s stock worth $49,000 after buying an additional 187 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

First Solar Stock Up 0.8%

FSLR stock opened at $233.37 on Friday. First Solar, Inc. has a 52 week low of $135.50 and a 52 week high of $285.99. The company has a market capitalization of $25.08 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 0.51 and a beta of 1.57. The firm’s 50-day moving average is $200.53 and its two-hundred day moving average is $231.41. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm earned $1.95 EPS. First Solar’s revenue was up 23.6% on a year-over-year basis. On average, analysts forecast that First Solar, Inc. will post 17.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Michael Koralewski sold 215 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $46,360.45. Following the sale, the insider directly owned 14,642 shares in the company, valued at $3,157,254.46. The trade was a 1.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Georges Antoun sold 566 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $122,046.58. Following the completion of the sale, the insider owned 19,918 shares in the company, valued at $4,294,918.34. The trade was a 2.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 92,430 shares of company stock worth $18,670,055. Company insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FSLR. UBS Group reduced their price target on shares of First Solar from $300.00 to $290.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Argus lifted their price objective on shares of First Solar from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday. Glj Research downgraded shares of First Solar from a “buy” rating to a “hold” rating and cut their price objective for the company from $314.43 to $207.82 in a research report on Wednesday, March 4th. Evercore lifted their price objective on shares of First Solar from $212.00 to $219.00 in a research report on Monday, May 4th. Finally, DZ Bank upgraded shares of First Solar to a “strong sell” rating in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $247.03.

First Solar Company 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.