SG Americas Securities LLC Acquires 98,877 Shares of First Solar, Inc. $FSLR

SG Americas Securities LLC raised its holdings in First Solar, Inc. (NASDAQ:FSLR) by 100.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 197,258 shares of the solar cell manufacturer’s stock after acquiring an additional 98,877 shares during the period. SG Americas Securities LLC’s holdings in First Solar were worth $38,911,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Aventura Private Wealth LLC bought a new stake in shares of First Solar in the fourth quarter valued at approximately $25,000. Commonwealth Retirement Investments LLC bought a new position in First Solar during the fourth quarter worth $26,000. Reflection Asset Management bought a new position in First Solar during the fourth quarter worth $26,000. Strategic Wealth Investment Group LLC acquired a new position in First Solar during the 2nd quarter valued at $26,000. Finally, Larson Financial Group LLC raised its stake 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 valued at $27,000 after purchasing an additional 55 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at First Solar

In related news, General Counsel Jason E. Dymbort sold 409 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 $88,192.67. Following the completion of the transaction, the general counsel directly owned 10,409 shares of the company’s stock, valued at $2,244,492.67. The trade was a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a filing 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, CTO Markus Gloeckler sold 420 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $90,564.60. Following the transaction, the chief technology officer owned 10,896 shares in the company, valued at approximately $2,349,504.48. This trade represents a 3.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 32,466 shares of company stock valued at $8,014,105. 0.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on FSLR. The Goldman Sachs Group raised their price target on shares of First Solar from $300.00 to $310.00 in a research report on Friday, May 1st. Mizuho upped their price objective on shares of First Solar from $243.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, June 12th. Jefferies Financial Group reduced their target price on shares of First Solar from $205.00 to $187.00 and set a “hold” rating for the company in a research note on Tuesday, April 7th. Guggenheim lifted their target price on First Solar from $269.00 to $279.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Finally, Zacks Research upgraded First Solar from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $249.78.

First Solar Stock Performance

NASDAQ:FSLR opened at $249.24 on Wednesday. The stock has a market capitalization of $26.78 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 0.58 and a beta of 1.71. 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, Inc. has a 1 year low of $142.84 and a 1 year high of $320.95. The firm has a 50 day moving average of $240.76 and a 200-day moving average of $233.19.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the company earned $1.95 EPS. First Solar’s revenue for the quarter was up 23.6% on a year-over-year basis. As a group, sell-side analysts anticipate that First Solar, Inc. will post 17.61 EPS for the current fiscal year.

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.