First Solar, Inc. $FSLR Stock Purchased by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP grew its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 99.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,626 shares of the solar cell manufacturer’s stock after acquiring an additional 3,308 shares during the quarter. Fulcrum Asset Management LLP’s holdings in First Solar were worth $1,172,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of FSLR. Edgemoor Investment Advisors Inc. grew its holdings in shares of First Solar by 9.8% during the third quarter. Edgemoor Investment Advisors Inc. now owns 13,650 shares of the solar cell manufacturer’s stock valued at $2,391,000 after buying an additional 1,213 shares during the last quarter. Candriam S.C.A. lifted its position in First Solar by 39.2% in the 3rd quarter. Candriam S.C.A. now owns 126,586 shares of the solar cell manufacturer’s stock valued at $22,254,000 after acquiring an additional 35,663 shares in the last quarter. Ethic Inc. lifted its position in First Solar by 3.7% in the 3rd quarter. Ethic Inc. now owns 25,578 shares of the solar cell manufacturer’s stock valued at $4,480,000 after acquiring an additional 901 shares in the last quarter. Guild Investment Management Inc. lifted its position in First Solar by 29.6% in the 3rd quarter. Guild Investment Management Inc. now owns 22,183 shares of the solar cell manufacturer’s stock valued at $3,886,000 after acquiring an additional 5,073 shares in the last quarter. Finally, StoneX Group Inc. acquired a new position in First Solar during the 3rd quarter valued at about $336,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at First Solar

In other news, CTO Markus Gloeckler sold 800 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $174.00, for a total transaction of $139,200.00. Following the completion of the sale, the chief technology officer directly owned 5,042 shares of the company’s stock, valued at $877,308. This trade represents a 13.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Samantha Sloan sold 127 shares of First Solar stock in a transaction on Monday, August 17th. The stock was sold at an average price of $222.95, for a total value of $28,314.65. Following the sale, the executive vice president owned 2,018 shares in the company, valued at $449,913.10. The trade was a 5.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 1,727 shares of company stock valued at $327,515. Insiders own 0.39% of the company’s stock.

First Solar Stock Down 1.6%

Shares of NASDAQ FSLR opened at $178.11 on Thursday. First Solar, Inc. has a twelve month low of $165.86 and a twelve month high of $320.95. The stock’s 50 day moving average price is $185.89 and its 200-day moving average price is $214.08. The company has a market capitalization of $19.14 billion, a PE ratio of 10.31, a PEG ratio of 0.49 and a beta of 1.73.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, October 29th. The solar cell manufacturer reported $5.30 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.63. First Solar had a return on equity of 18.33% and a net margin of 37.12%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the company posted $4.24 earnings per share. First Solar’s quarterly revenue was down 22.8% compared to the same quarter last year. As a group, research analysts expect that First Solar, Inc. will post 17.70 EPS for the current fiscal year.

Analysts Set New Price Targets

FSLR has been the subject of several analyst reports. Morgan Stanley lowered their price objective on First Solar from $326.00 to $307.00 and set an “overweight” rating for the company in a research note on Friday, October 30th. UBS Group cut their target price on First Solar from $330.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday. Glj Research downgraded First Solar from a “buy” rating to a “hold” rating and set a $161.00 price target for the company. in a report on Friday, October 30th. Susquehanna reissued a “positive” rating and issued a $246.00 price target on shares of First Solar in a research report on Friday, October 30th. Finally, TD Cowen upgraded First Solar to a “strong-buy” rating in a research note on Monday, October 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $255.17.

First Solar Profile

First Solar, Inc. is a U.S.-based solar technology company that designs and manufactures photovoltaic modules for utility-scale solar power projects. Its products use thin-film cadmium telluride (CdTe) technology, an alternative to the crystalline-silicon cells commonly used in solar panels. Founded in 1999, the company also provides services related to its modules, including recycling designed to recover and reuse materials at the end of a product’s useful life. First Solar serves customers in markets across the Americas, Europe, and Asia-Pacific.