Lombard Odier Asset Management USA Corp Has $1.67 Million Stake in First Solar, Inc. $FSLR

Lombard Odier Asset Management USA Corp decreased its position in First Solar, Inc. (NASDAQ:FSLR) by 34.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,391 shares of the solar cell manufacturer’s stock after selling 3,363 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in First Solar were worth $1,670,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FSLR. Woodline Partners LP raised its stake in shares of First Solar by 40.7% in the 1st quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock valued at $1,143,000 after purchasing an additional 2,615 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of First Solar by 50.9% in the second quarter. EverSource Wealth Advisors LLC now owns 516 shares of the solar cell manufacturer’s stock valued at $85,000 after acquiring an additional 174 shares during the last quarter. Brown Advisory Inc. increased its position in shares of First Solar by 84.3% in the second quarter. Brown Advisory Inc. now owns 4,529 shares of the solar cell manufacturer’s stock valued at $750,000 after acquiring an additional 2,072 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of First Solar in the second quarter valued at about $494,000. Finally, AXA S.A. increased its position in shares of First Solar by 6.3% in the second quarter. AXA S.A. now owns 18,862 shares of the solar cell manufacturer’s stock valued at $3,122,000 after acquiring an additional 1,115 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Buying and Selling at First Solar

In related news, CEO Mark R. Widmar sold 9,926 shares of First Solar stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $233.21, for a total transaction of $2,314,842.46. Following the completion of the transaction, the chief executive officer owned 95,148 shares in the company, valued at approximately $22,189,465.08. This trade represents a 9.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Caroline Stockdale sold 10,628 shares of First Solar stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $275.60, for a total value of $2,929,076.80. Following the transaction, the insider owned 23,792 shares of the company’s stock, valued at $6,557,075.20. The trade was a 30.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,466 shares of company stock valued at $8,014,105 in the last three months. Corporate insiders own 0.39% of the company’s stock.

First Solar Trading Down 3.3%

First Solar stock opened at $264.36 on Wednesday. First Solar, Inc. has a 52 week low of $135.50 and a 52 week high of $320.95. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. The stock has a market capitalization of $28.41 billion, a P/E ratio of 17.08, a PEG ratio of 0.60 and a beta of 1.71. The stock has a 50-day simple moving average of $234.90 and a 200 day simple moving average of $233.51.

First Solar (NASDAQ:FSLR) last posted 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 return on equity of 18.01% and a net margin of 30.73%.The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the company posted $1.95 earnings per share. First Solar’s quarterly revenue was up 23.6% on a year-over-year basis. Analysts expect that First Solar, Inc. will post 17.61 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on FSLR. Royal Bank Of Canada lowered their target price on First Solar from $258.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Susquehanna lowered their target price on First Solar from $280.00 to $250.00 and set a “positive” rating on the stock in a research report on Thursday, April 9th. Morgan Stanley lowered their target price on First Solar from $275.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. Barclays lowered their target price on First Solar from $228.00 to $213.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. Finally, Glj Research downgraded First Solar from a “buy” rating to a “hold” rating and lowered their target price for the company from $314.43 to $207.82 in a research report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.99.

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.