First Solar, Inc. $FSLR Shares Sold by Tobam

Tobam lowered its stake in First Solar, Inc. (NASDAQ:FSLR) by 16.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 13,588 shares of the solar cell manufacturer’s stock after selling 2,656 shares during the period. Tobam’s holdings in First Solar were worth $3,550,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of FSLR. Aventura Private Wealth LLC acquired a new position in First Solar in the fourth quarter worth about $25,000. Commonwealth Retirement Investments LLC acquired a new stake in First Solar during the fourth quarter valued at approximately $26,000. Larson Financial Group LLC lifted its holdings in First Solar by 117.0% during the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock worth $27,000 after buying an additional 55 shares during the last quarter. Elyxium Wealth LLC bought a new position in First Solar during the 4th quarter worth approximately $30,000. Finally, MV Capital Management Inc. acquired a new position in shares of First Solar in the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Transactions at First Solar

In other First Solar news, CTO Markus Gloeckler sold 420 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $90,564.60. Following the completion of the transaction, the chief technology officer directly owned 10,896 shares of the company’s stock, valued at approximately $2,349,504.48. This trade represents a 3.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kuntal Kumar Verma sold 582 shares of First Solar stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $250.00, for a total value of $145,500.00. Following the transaction, the insider owned 4,967 shares in the company, valued at approximately $1,241,750. This trade represents a 10.49% 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. Insiders sold a total of 32,466 shares of company stock valued at $8,014,105 over the last three months. 0.39% of the stock is owned by company insiders.

First Solar Price Performance

First Solar stock opened at $257.70 on Friday. First Solar, Inc. has a 52 week low of $139.26 and a 52 week high of $320.95. The stock has a market cap of $27.69 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 0.57 and a beta of 1.71. The company’s 50-day moving average price is $238.53 and its two-hundred day moving average price is $233.45. 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 issued its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The business’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.95 EPS. On average, analysts expect that First Solar, Inc. will post 17.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FSLR shares. Robert W. Baird reissued a “neutral” rating and set a $205.00 price target (down from $264.00) on shares of First Solar in a research report on Wednesday, February 25th. The Goldman Sachs Group boosted their target price on shares of First Solar from $300.00 to $310.00 in a research note on Friday, May 1st. UBS Group increased their target price on shares of First Solar from $290.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. JPMorgan Chase & Co. reduced their price target on shares of First Solar from $303.00 to $256.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Finally, Zacks Research raised shares of First Solar from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and a consensus price target of $249.78.

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.