CenterBook Partners LP Buys 31,241 Shares of First Solar, Inc. $FSLR

CenterBook Partners LP raised its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 121.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 57,068 shares of the solar cell manufacturer’s stock after purchasing an additional 31,241 shares during the quarter. CenterBook Partners LP owned 0.05% of First Solar worth $9,996,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in First Solar during the second quarter worth about $3,310,298,000. ABS Investment Management LLC acquired a new position in First Solar in the 2nd quarter valued at approximately $1,297,780,000. Hill City Capital LP bought a new stake in shares of First Solar in the 2nd quarter worth approximately $620,133,555. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 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 acquiring an additional 100,694 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of First Solar by 4.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,305,471 shares of the solar cell manufacturer’s stock worth $257,441,000 after purchasing an additional 56,300 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Key First Solar News

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

• Positive Sentiment: William Blair raised its rating on First Solar from “market perform” to “outperform.” The firm sees Democratic gains as potentially supporting utility-scale solar projects, although new bookings may take time to materialize. First Solar raised at William Blair as Democrat Congress seen boosting support
• Positive Sentiment: First Solar announced a $500 million share repurchase program and opened a manufacturing facility in Gaffney, South Carolina, expanding its U.S. production footprint and adding regional jobs. Democratic Sweep Could Be A Big Deal For First Solar Stock First Solar Opens South Carolina Plant
• Negative Sentiment: The company lowered its full-year net sales and module-shipment outlook. Its third-quarter results were mixed: EPS beat expectations, but revenue fell short of estimates and was down year over year, which may temper the positive policy and buyback news. Democratic Sweep Could Be A Big Deal For First Solar Stock

First Solar Trading Up 2.7%

FSLR stock traded up $5.38 during trading on Friday, hitting $201.14. The company had a trading volume of 4,117,355 shares, compared to its average volume of 2,151,672. The company has a fifty day moving average price of $186.99 and a two-hundred day moving average price of $214.96. The company has a market cap of $21.62 billion, a P/E ratio of 11.64, a P/E/G ratio of 0.50 and a beta of 1.73. First Solar, Inc. has a fifty-two week low of $165.86 and a fifty-two week high of $320.95.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, October 29th. The solar cell manufacturer reported $5.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.63. First Solar had a return on equity of 18.33% and a net margin of 37.12%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the business earned $4.24 earnings per share. The business’s revenue was down 22.8% on a year-over-year basis. On average, analysts expect that First Solar, Inc. will post 17.66 earnings per share for the current year.

Wall Street Analyst Weigh In

FSLR has been the topic of a number of research reports. UBS Group restated a “buy” rating on shares of First Solar in a research report on Friday, October 30th. JPMorgan Chase & Co. decreased their price target on shares of First Solar from $252.00 to $233.00 and set an “overweight” rating on the stock in a research note on Friday, October 30th. Morgan Stanley lowered their price target on shares of First Solar from $326.00 to $307.00 and set an “overweight” rating on the stock in a report on Friday, October 30th. BNP Paribas Exane began coverage on shares of First Solar in a research note on Friday, October 30th. They issued a “strong-buy” rating for the company. Finally, William Blair raised shares of First Solar from a “market perform” rating to an “outperform” rating in a report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $257.38.

Insiders Place Their Bets

In other news, EVP Samantha Sloan sold 127 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $222.95, for a total transaction of $28,314.65. Following the completion of the sale, the executive vice president owned 2,018 shares of the company’s stock, valued at approximately $449,913.10. This trade represents a 5.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Markus Gloeckler sold 800 shares of First Solar stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $174.00, for a total transaction of $139,200.00. Following the completion of the transaction, the chief technology officer owned 5,042 shares of the company’s stock, valued at $877,308. This trade represents a 13.69% 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. Over the last ninety days, insiders have sold 5,427 shares of company stock valued at $1,250,221. 0.39% of the stock is currently owned by insiders.

First Solar Company 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.