11,047 Shares in First Solar, Inc. $FSLR Acquired by Corient Private Wealth LP

Corient Private Wealth LP purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,047 shares of the solar cell manufacturer’s stock, valued at approximately $2,607,000.

Several other large investors have also recently modified their holdings of FSLR. BlackRock Inc. acquired a new position in shares of First Solar during the second quarter worth $3,310,298,000. Geode Capital Management LLC grew its stake in shares of First Solar by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 2,919,991 shares of the solar cell manufacturer’s stock worth $761,396,000 after purchasing an additional 24,206 shares during the last quarter. Hill City Capital LP acquired a new stake in First Solar in the second quarter valued at $620,133,555. Viking Global Investors LP increased its holdings in First Solar by 60.6% in 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 during the period. Finally, Amundi raised its position in First Solar by 9.4% during the 4th quarter. Amundi now owns 2,215,461 shares of the solar cell manufacturer’s stock worth $578,791,000 after purchasing an additional 189,626 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on FSLR. Argus reaffirmed a “buy” rating and set a $275.00 target price on shares of First Solar in a report on Wednesday, August 26th. Guggenheim increased their price target on First Solar from $279.00 to $282.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Wells Fargo & Company raised their price objective on First Solar from $300.00 to $313.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Oppenheimer reaffirmed a “market perform” rating on shares of First Solar in a research note on Friday, July 31st. Finally, Jefferies Financial Group set a $196.00 target price on First Solar in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $266.27.

Insiders Place Their Bets

In related news, General Counsel Jason E. Dymbort sold 3,700 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $249.38, for a total transaction of $922,706.00. Following the sale, the general counsel owned 5,624 shares in the company, valued at $1,402,513.12. This represents a 39.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Markus Gloeckler sold 3,425 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $218.95, for a total value of $749,903.75. Following the sale, the chief technology officer directly owned 7,471 shares of the company’s stock, valued at $1,635,775.45. This represents a 31.43% 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. Insiders sold 15,881 shares of company stock valued at $3,617,086 over the last 90 days. 0.39% of the stock is owned by company insiders.

First Solar Stock Up 1.5%

FSLR stock opened at $202.60 on Thursday. The firm has a market cap of $21.77 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 0.53 and a beta of 1.74. First Solar, Inc. has a 12-month low of $182.99 and a 12-month high of $320.95. The company’s fifty day simple moving average is $220.28 and its 200 day simple moving average is $222.90.

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