Lombard Odier Asset Management USA Corp Lowers Position in First Solar, Inc. $FSLR

Lombard Odier Asset Management USA Corp lessened its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 78.0% in the third quarter, HoldingsChannel.com reports. The fund owned 9,754 shares of the solar cell manufacturer’s stock after selling 34,529 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in First Solar were worth $2,151,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Strategic Wealth Investment Group LLC purchased a new stake in First Solar in the second quarter valued at approximately $26,000. Total Investment Management Inc. bought a new stake in First Solar during the second quarter valued at approximately $36,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in First Solar in the 3rd quarter worth approximately $44,000. CYBER HORNET ETFs LLC purchased a new position in First Solar in the 2nd quarter worth approximately $47,000. Finally, NBT Bank N A NY increased its holdings in shares of First Solar by 550.0% in the 3rd quarter. NBT Bank N A NY now owns 221 shares of the solar cell manufacturer’s stock worth $49,000 after buying an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

Shares of First Solar stock opened at $199.48 on Tuesday. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $285.99. The stock has a market capitalization of $21.41 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 0.32 and a beta of 1.65. The company has a fifty day moving average of $225.79 and a 200-day moving average of $236.47. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.35 and a current ratio of 2.67.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 EPS for the quarter, missing the consensus estimate of $5.22 by ($0.38). The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.59 billion. First Solar had a net margin of 29.28% and a return on equity of 17.32%. First Solar’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.65 EPS. Equities research analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Raymond James Financial assumed coverage on shares of First Solar in a research report on Monday, January 12th. They set a “market perform” rating on the stock. Argus cut their target price on shares of First Solar from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Bank of America reduced their target price on First Solar from $291.00 to $271.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. DZ Bank upgraded First Solar to a “strong sell” rating in a research report on Thursday, February 26th. Finally, Wall Street Zen lowered First Solar from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Twenty research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $249.65.

Insider Activity

In other news, insider Kuntal Kumar Verma sold 3,426 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $195.93, for a total value of $671,256.18. Following the completion of the sale, the insider owned 8,334 shares of the company’s stock, valued at approximately $1,632,880.62. The trade was a 29.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Jason E. Dymbort sold 3,273 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $195.93, for a total value of $641,278.89. Following the sale, the general counsel owned 16,625 shares of the company’s stock, valued at $3,257,336.25. This represents a 16.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 47,761 shares of company stock valued at $9,276,424. Company insiders own 0.48% of the company’s stock.

First Solar Company 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.