Anomaly Capital Management LP Purchases Shares of 238,409 First Solar, Inc. (NASDAQ:FSLR)

Anomaly Capital Management LP acquired a new position in First Solar, Inc. (NASDAQ:FSLR) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 238,409 shares of the solar cell manufacturer’s stock, valued at approximately $53,752,000. First Solar makes up 2.0% of Anomaly Capital Management LP’s holdings, making the stock its 20th largest holding. Anomaly Capital Management LP owned approximately 0.22% of First Solar at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. acquired a new stake in First Solar in the 1st quarter valued at about $25,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in First Solar during the fourth quarter valued at approximately $27,000. Atlas Capital Advisors LLC boosted its holdings in First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after buying an additional 111 shares in the last quarter. Riverview Trust Co acquired a new position in First Solar in the first quarter worth approximately $32,000. Finally, Summit Securities Group LLC bought a new position in shares of First Solar in the second quarter valued at $36,000. Institutional investors own 92.08% of the company’s stock.

Insider Buying and Selling

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. The disclosure for this sale can be found here. Insiders have sold a total of 10,885 shares of company stock valued at $2,405,757 over the last three months. 0.58% of the stock is owned by corporate insiders.

First Solar Stock Down 0.1 %

FSLR opened at $240.20 on Monday. The business has a 50 day moving average of $222.03 and a 200-day moving average of $213.46. The stock has a market capitalization of $25.71 billion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 0.40 and a beta of 1.44. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. During the same period in the prior year, the firm earned $1.85 EPS. The business’s revenue was up 24.6% on a year-over-year basis. As a group, sell-side analysts anticipate that First Solar, Inc. will post 13.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Bank of America raised their price objective on First Solar from $320.00 to $343.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Robert W. Baird decreased their target price on shares of First Solar from $344.00 to $307.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. William Blair began coverage on shares of First Solar in a report on Thursday, August 29th. They set a “market perform” rating on the stock. Finally, BMO Capital Markets decreased their price objective on shares of First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $283.46.

First Solar Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.