43,539 Shares in First Solar, Inc. $FSLR Acquired by Makena Capital Management LLC

Makena Capital Management LLC purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 43,539 shares of the solar cell manufacturer’s stock, valued at approximately $11,374,000. First Solar comprises approximately 1.4% of Makena Capital Management LLC’s portfolio, making the stock its 24th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of FSLR. Woodline Partners LP lifted its stake in shares of First Solar by 40.7% during the 1st quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock worth $1,143,000 after acquiring an additional 2,615 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of First Solar by 50.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 516 shares of the solar cell manufacturer’s stock worth $85,000 after acquiring an additional 174 shares during the last quarter. Brown Advisory Inc. lifted its stake in shares of First Solar by 84.3% during the 2nd quarter. Brown Advisory Inc. now owns 4,529 shares of the solar cell manufacturer’s stock worth $750,000 after acquiring an additional 2,072 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of First Solar during the 2nd quarter worth approximately $494,000. Finally, AXA S.A. lifted its stake in shares of First Solar by 6.3% during the 2nd quarter. AXA S.A. now owns 18,862 shares of the solar cell manufacturer’s stock worth $3,122,000 after acquiring an additional 1,115 shares during the last quarter. 92.08% of the stock is owned by institutional investors.

Insider Buying and Selling at First Solar

In other First Solar news, CFO Alexander R. Bradley sold 498 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 $107,383.74. Following the sale, the chief financial officer owned 30,712 shares of the company’s stock, valued at approximately $6,622,428.56. This trade represents a 1.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 Michael Koralewski sold 215 shares of the stock in a transaction 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. This trade represents a 1.45% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 81,204 shares of company stock worth $16,043,186. 0.39% of the stock is currently owned by company insiders.

Key First Solar News

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: Freedom Capital upgraded First Solar from hold to strong-buy, adding to the bullish case for the stock. Read More
• Positive Sentiment: HSBC raised its price target on First Solar to $231, suggesting further upside from current levels. HSBC Increases First Solar (NASDAQ:FSLR) Price Target to $231.00
• Positive Sentiment: Barclays issued a buy rating on First Solar, and Susquehanna also reportedly gave the stock a buy rating, reinforcing the upbeat analyst tone. First Solar (FSLR) Gets a Buy from Barclays First Solar (FSLR) Receives a Buy from Susquehanna
• Positive Sentiment: Coverage highlighting “3 big reasons to love First Solar” and a Zacks note that FSLR is a trending stock may be helping keep investor attention on the name. First Solar, Inc. (FSLR) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: First Solar CEO sold about $329,051 worth of stock, which can draw some investor caution but is not necessarily a fundamental change in the company’s outlook. Insider Selling: First Solar (NASDAQ:FSLR) CEO Sells $329,051.38 in Stock

First Solar Trading Up 2.5%

FSLR opened at $219.95 on Friday. The stock’s fifty day moving average is $196.96 and its two-hundred day moving average is $231.41. The company has a market capitalization of $23.63 billion, a P/E ratio of 14.21, a PEG ratio of 0.47 and a beta of 1.57. First Solar, Inc. has a 52 week low of $133.75 and a 52 week high of $285.99. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.First Solar’s quarterly revenue was up 23.6% on a year-over-year basis. During the same period last year, the business posted $1.95 EPS. Analysts forecast that First Solar, Inc. will post 17.58 earnings per share for the current year.

Wall Street Analyst Weigh In

FSLR has been the subject of a number of research analyst reports. Freedom Capital raised First Solar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. JPMorgan Chase & Co. decreased their price target on First Solar from $303.00 to $256.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Susquehanna decreased their price target on First Solar from $280.00 to $250.00 and set a “positive” rating for the company in a research note on Thursday, April 9th. 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 note on Wednesday, February 25th. Finally, BMO Capital Markets decreased their price target on First Solar from $252.00 to $237.00 and set a “market perform” rating for the company in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $246.10.

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.