Investors Purchase Large Volume of First Solar Call Options (NASDAQ:FSLR)

First Solar, Inc. (NASDAQ:FSLR) saw some unusual options trading on Wednesday. Stock investors purchased 36,233 call options on the stock. This represents an increase of 13% compared to the typical daily volume of 32,137 call options.

Institutional Trading of First Solar

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of First Solar in the fourth quarter worth $317,399,000. Wellington Management Group LLP grew its stake in shares of First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after purchasing an additional 904,498 shares during the last quarter. Demars Financial Group LLC lifted its holdings in First Solar by 17,404.5% in the fourth quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer’s stock valued at $127,379,000 after buying an additional 718,631 shares during the period. Mirova US LLC lifted its holdings in First Solar by 961.0% in the fourth quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock valued at $113,906,000 after buying an additional 585,394 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in First Solar by 1,757.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after buying an additional 516,783 shares during the period. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of First Solar stock opened at $141.18 on Friday. The stock’s fifty day simple moving average is $173.30 and its 200 day simple moving average is $198.68. The company has a market capitalization of $15.11 billion, a PE ratio of 12.16, a PEG ratio of 0.19 and a beta of 1.47. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar has a 12 month low of $140.84 and a 12 month high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($1.16). The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. On average, research analysts predict that First Solar will post 13.05 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FSLR shares. Roth Mkm reiterated a “buy” rating and set a $280.00 price target on shares of First Solar in a research report on Wednesday. Morgan Stanley decreased their price objective on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a report on Thursday. Royal Bank of Canada cut their target price on First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a report on Wednesday. Mizuho raised First Solar from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $218.00 to $259.00 in a research report on Tuesday, February 11th. Finally, StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $263.63.

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.