Lombard Odier Asset Management USA Corp Sells 3,363 Shares of First Solar, Inc. $FSLR

Lombard Odier Asset Management USA Corp trimmed its position in First Solar, Inc. (NASDAQ:FSLR) by 34.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 6,391 shares of the solar cell manufacturer’s stock after selling 3,363 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in First Solar were worth $1,670,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling at First Solar

In other First Solar news, CTO Markus Gloeckler sold 420 shares of First Solar stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total value of $90,564.60. Following the sale, the chief technology officer owned 10,896 shares of the company’s stock, valued at $2,349,504.48. This trade represents a 3.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Caroline Stockdale sold 10,628 shares of First Solar stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $275.60, for a total value of $2,929,076.80. Following the completion of the sale, the insider directly owned 23,792 shares in the company, valued at $6,557,075.20. This represents a 30.88% decrease in their position. The SEC filing for this sale provides additional information. 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 worth $8,014,105 in the last three months. 0.39% of the stock is owned by insiders.

Analyst Ratings Changes

FSLR has been the topic of several recent research reports. Morgan Stanley reduced their price target 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. Weiss Ratings lowered First Solar from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Freedom Capital upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Robert W. Baird restated a “neutral” rating and issued a $205.00 price target (down from $264.00) on shares of First Solar in a research report on Wednesday, February 25th. Finally, Mizuho raised their price target on First Solar from $243.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, June 12th. 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 two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $250.99.

First Solar Stock Performance

Shares of First Solar stock opened at $264.36 on Wednesday. The company has a market capitalization of $28.41 billion, a PE ratio of 17.08, a PEG ratio of 0.60 and a beta of 1.71. First Solar, Inc. has a 12 month low of $135.50 and a 12 month high of $320.95. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock’s fifty day simple moving average is $234.90 and its 200 day simple moving average is $233.51.

First Solar (NASDAQ:FSLR) last issued 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 business 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%.The firm’s revenue was up 23.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.95 EPS. On average, research analysts predict that First Solar, Inc. will post 17.61 EPS for the current year.

About First Solar

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.