First Solar, Inc. $FSLR Stock: Credit Capital Investments LLC Increases Stake

Credit Capital Investments LLC raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 11.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,700 shares of the solar cell manufacturer’s stock after acquiring an additional 3,000 shares during the quarter. First Solar comprises approximately 2.3% of Credit Capital Investments LLC’s portfolio, making the stock its 8th biggest holding. Credit Capital Investments LLC’s holdings in First Solar were worth $5,027,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA grew its holdings in shares of First Solar by 29.3% during the first quarter. Pictet Asset Management Holding SA now owns 1,138,473 shares of the solar cell manufacturer’s stock worth $224,540,000 after purchasing an additional 258,204 shares in the last quarter. Rakuten Investment Management Inc. purchased a new position in First Solar in the 2nd quarter worth approximately $4,019,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in First Solar by 7.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,535,836 shares of the solar cell manufacturer’s stock worth $362,396,000 after buying an additional 100,694 shares in the last quarter. Jupiter Topco LLC bought a new position in shares of First Solar in the 2nd quarter worth $6,121,000. Finally, Handelsbanken Fonder AB raised its position in shares of First Solar by 15.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 683,112 shares of the solar cell manufacturer’s stock valued at $161,187,000 after buying an additional 89,214 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

Insider Buying and Selling at First Solar

In related news, General Counsel Jason E. Dymbort sold 3,700 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $249.38, for a total value of $922,706.00. Following the completion of the transaction, the general counsel owned 5,624 shares in the company, valued at $1,402,513.12. This trade represents a 39.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Markus Gloeckler sold 800 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $174.00, for a total transaction of $139,200.00. Following the transaction, the chief technology officer directly owned 5,042 shares of the company’s stock, valued at approximately $877,308. This trade represents a 13.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 16,681 shares of company stock valued at $3,756,286 in the last ninety days. 0.39% of the stock is owned by insiders.

Analyst Ratings Changes

FSLR has been the topic of several analyst reports. Wells Fargo & Company lifted their price objective on First Solar from $300.00 to $313.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Jefferies Financial Group reaffirmed a “hold” rating and set a $199.00 price target on shares of First Solar in a research report on Friday, October 16th. JPMorgan Chase & Co. cut their price objective on First Solar from $256.00 to $252.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Raymond James Financial initiated coverage on First Solar in a research note on Thursday, August 27th. They set a “market perform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered First Solar from a “buy” rating to a “hold” rating in a research note on Thursday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $265.73.

Key First Solar News

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

• Positive Sentiment: BMO Capital issued a Buy rating on First Solar, providing a constructive analyst signal that may support investor confidence in the company’s long-term growth prospects. First Solar Gets a Buy from BMO Capital
• Positive Sentiment: Analysts and investors are focused on whether U.S. demand for domestically manufactured solar panels is strengthening. Firm domestic demand could benefit First Solar’s production utilization and revenue outlook. Is Domestic Panel Demand Firming for First Solar?
• Neutral Sentiment: First Solar is scheduled to report quarterly earnings, making the upcoming results, management guidance and commentary on demand key near-term catalysts. First Solar Projected to Announce Quarterly Earnings
• Neutral Sentiment: Investor attention has increased, with First Solar appearing among trending stocks. The heightened visibility could increase trading activity but does not itself change the company’s fundamentals. First Solar Is a Trending Stock
• Neutral Sentiment: Coverage is also highlighting First Solar’s substantial cash position, which may provide financial flexibility for expansion and help cushion periods of industry volatility. Should You Buy First Solar Stock For Its Cash?
• Negative Sentiment: Zacks reported that First Solar underperformed the broader market in the latest session, reflecting near-term selling pressure. First Solar Declines More Than the Market
• Negative Sentiment: Pre-earnings analysis says First Solar lacks the combination of earnings-estimate revisions and surprise indicators typically associated with a likely earnings beat. That raises the risk of a cautious reaction if results or guidance disappoint. First Solar Earnings Expected to Grow

First Solar Stock Performance

NASDAQ FSLR opened at $171.99 on Friday. First Solar, Inc. has a one year low of $168.60 and a one year high of $320.95. The company has a market capitalization of $18.48 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 0.47 and a beta of 1.80. The stock has a 50-day moving average of $192.86 and a 200 day moving average of $218.21.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $1.02. First Solar had a net margin of 32.47% and a return on equity of 18.02%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the firm posted $3.18 EPS. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. On average, equities analysts predict that First Solar, Inc. will post 17.63 earnings per share for the current fiscal year.

First Solar Profile

First Solar, Inc is a vertically integrated solar technology and manufacturing company that designs, manufactures and sells photovoltaic (PV) solar modules. Its modules use advanced thin-film semiconductor technology based on cadmium telluride (CdTe), rather than the crystalline-silicon technology used by most solar manufacturers. The company serves utility-scale solar developers, commercial and industrial customers, and other large-scale energy users.

Founded in 1999 and headquartered in Tempe, Arizona, First Solar operates research and development, manufacturing and recycling facilities in the United States and internationally.