EP Wealth Advisors LLC Purchases New Position in First Solar, Inc. (NASDAQ:FSLR)

EP Wealth Advisors LLC acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,157 shares of the solar cell manufacturer’s stock, valued at approximately $261,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Electron Capital Partners LLC boosted its stake in First Solar by 81,947.0% in the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock valued at $1,729,223,000 after acquiring an additional 7,660,409 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in First Solar by 11.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after buying an additional 279,719 shares during the last quarter. Anomaly Capital Management LP acquired a new position in First Solar during the second quarter worth approximately $53,752,000. Canada Pension Plan Investment Board lifted its stake in First Solar by 2,429.1% in the second quarter. Canada Pension Plan Investment Board now owns 174,530 shares of the solar cell manufacturer’s stock valued at $39,350,000 after buying an additional 167,629 shares during the last quarter. Finally, Park West Asset Management LLC acquired a new stake in shares of First Solar in the fourth quarter valued at approximately $26,359,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FSLR shares. Barclays lifted their target price on shares of First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Clarkson Capital began coverage on shares of First Solar in a research note on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Piper Sandler boosted their price target on First Solar from $219.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. upped their price objective on First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, First Solar has an average rating of “Moderate Buy” and a consensus price target of $284.12.

Insider Buying and Selling

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were 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 in the company, valued at approximately $769,896. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the sale, the chief accounting officer now owns 500 shares in the company, valued at approximately $108,250. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction 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 directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,885 shares of company stock worth $2,405,757 in the last three months. Corporate insiders own 0.58% of the company’s stock.

First Solar Price Performance

FSLR stock opened at $231.13 on Friday. The firm has a 50 day moving average of $227.09 and a 200-day moving average of $218.19. The company has a market cap of $24.74 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 0.42 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 12-month low of $129.21 and a 12-month high of $306.77.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.56. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. First Solar’s revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.85 earnings per share. As a group, equities analysts expect that First Solar, Inc. will post 13.62 EPS for the current fiscal year.

First Solar Company 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.