Samlyn Capital LLC Trims Stake in First Solar, Inc. (NASDAQ:FSLR)

Samlyn Capital LLC cut its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 40.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,067,971 shares of the solar cell manufacturer’s stock after selling 727,765 shares during the quarter. First Solar makes up about 4.0% of Samlyn Capital LLC’s investment portfolio, making the stock its 3rd largest position. Samlyn Capital LLC owned 1.00% of First Solar worth $240,785,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of FSLR. Morse Asset Management Inc purchased a new stake in First Solar during the 2nd quarter valued at about $2,536,000. Interval Partners LP purchased a new stake in First Solar in the 2nd quarter worth approximately $787,000. Xponance Inc. lifted its holdings in First Solar by 0.4% in the 2nd quarter. Xponance Inc. now owns 15,346 shares of the solar cell manufacturer’s stock worth $3,460,000 after buying an additional 56 shares during the period. Anomaly Capital Management LP purchased a new stake in First Solar in the 2nd quarter worth approximately $53,752,000. Finally, Magnetar Financial LLC purchased a new stake in First Solar in the 2nd quarter worth approximately $207,000. 92.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling at First Solar

In related news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 3,468 shares of the company’s stock, valued at $769,896. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Patrick James Buehler sold 8,619 shares of the 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 directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,885 shares of company stock valued at $2,405,757. Company insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Roth Mkm restated a “buy” rating and issued a $320.00 target price (up previously from $230.00) on shares of First Solar in a research note on Friday, May 31st. DZ Bank upgraded First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price for the company in a research note on Thursday, August 1st. Clarkson Capital assumed coverage on First Solar in a research note on Wednesday, August 14th. They issued a “buy” rating and a $270.00 target price for the company. Finally, Piper Sandler raised their target price on First Solar from $219.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $283.46.

First Solar Stock Up 3.8 %

FSLR opened at $249.28 on Tuesday. The business has a 50 day simple moving average of $222.75 and a 200-day simple moving average of $214.08. The stock has a market capitalization of $26.68 billion, a P/E ratio of 26.13, a P/E/G ratio of 0.40 and a beta of 1.44. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $306.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.56. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.85 earnings per share. On average, equities analysts anticipate that First Solar, Inc. will post 13.6 earnings per share for the current fiscal year.

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.