Continuum Advisory LLC Buys 10,028 Shares of First Solar, Inc. $FSLR

Continuum Advisory LLC boosted its stake in First Solar, Inc. (NASDAQ:FSLR) by 66.9% during the second quarter, HoldingsChannel reports. The firm owned 25,012 shares of the solar cell manufacturer’s stock after buying an additional 10,028 shares during the period. Continuum Advisory LLC’s holdings in First Solar were worth $5,902,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of First Solar during the 2nd quarter valued at $3,310,298,000. Hill City Capital LP purchased a new position in First Solar in the second quarter worth $620,133,555. Norges Bank bought a new position in First Solar in the fourth quarter valued at $392,040,000. Deutsche Bank AG bought a new position in First Solar in the second quarter valued at $212,626,000. Finally, Viking Global Investors LP raised its position in First Solar by 60.6% during the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock valued at $375,122,000 after purchasing an additional 854,919 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

First Solar Stock Performance

NASDAQ FSLR opened at $202.60 on Thursday. The stock has a market cap of $21.77 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 0.53 and a beta of 1.74. First Solar, Inc. has a fifty-two week low of $182.99 and a fifty-two week high of $320.95. The stock has a 50 day simple moving average of $220.28 and a two-hundred day simple moving average of $222.90.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $1.02. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. First Solar had a return on equity of 18.02% and a net margin of 32.47%.The business’s revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.18 earnings per share. Sell-side analysts predict that First Solar, Inc. will post 17.77 earnings per share for the current year.

Insider Activity at First Solar

In other news, CTO Markus Gloeckler sold 800 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $200.00, for a total value of $160,000.00. Following the completion of the sale, the chief technology officer directly owned 5,842 shares of the company’s stock, valued at approximately $1,168,400. This trade represents a 12.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jason E. Dymbort sold 3,700 shares of First Solar stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $249.38, for a total transaction of $922,706.00. Following the sale, the general counsel directly owned 5,624 shares in the company, valued at $1,402,513.12. The trade was a 39.68% 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. In the last ninety days, insiders have sold 15,881 shares of company stock worth $3,617,086. 0.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

FSLR has been the subject of several research analyst reports. Jefferies Financial Group set a $196.00 price target on First Solar in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft lowered First Solar from a “buy” rating to a “hold” rating in a research report on Thursday, August 27th. Sanford C. Bernstein decreased their price objective on First Solar from $217.00 to $197.00 and set an “underperform” rating on the stock in a report on Friday, July 31st. Robert W. Baird set a $318.00 target price on First Solar and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Finally, Morgan Stanley upped their target price on First Solar from $245.00 to $323.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $266.27.

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.