First Solar Target of Unusually Large Options Trading (NASDAQ:FSLR)

First Solar, Inc. (NASDAQ:FSLR) was the target of some unusual options trading activity on Monday. Investors acquired 22,309 put options on the stock. This is an increase of approximately 18% compared to the typical volume of 18,952 put options.

Insider Buying and Selling at First Solar

In other First Solar news, insider Georges Antoun sold 566 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $122,046.58. Following the completion of the transaction, the insider directly owned 19,918 shares in the company, valued at approximately $4,294,918.34. This represents a 2.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Koralewski sold 215 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $46,360.45. Following the completion of the transaction, the insider owned 14,642 shares of the company’s stock, valued at $3,157,254.46. This trade represents a 1.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 92,430 shares of company stock worth $18,670,055 over the last ninety days. 0.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Solar

Several large investors have recently made changes to their positions in FSLR. Norges Bank bought a new stake in First Solar during the 4th quarter valued at about $392,040,000. Viking Global Investors LP increased its stake in First Solar by 60.6% during the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock valued at $375,122,000 after purchasing an additional 854,919 shares in the last quarter. Polar Capital Holdings Plc bought a new stake in First Solar during the 4th quarter valued at about $200,109,000. Lightrock Netherlands B.V. increased its stake in First Solar by 2,663.8% during the 4th quarter. Lightrock Netherlands B.V. now owns 666,307 shares of the solar cell manufacturer’s stock valued at $174,059,000 after purchasing an additional 642,199 shares in the last quarter. Finally, Amundi increased its stake in First Solar by 38.6% during the 3rd quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer’s stock valued at $459,917,000 after purchasing an additional 564,032 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Price Performance

FSLR stock opened at $233.64 on Tuesday. The firm has a 50 day moving average price of $201.37 and a 200-day moving average price of $231.25. First Solar has a 52-week low of $135.50 and a 52-week high of $285.99. The firm has a market capitalization of $25.11 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 0.51 and a beta of 1.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the business earned $1.95 earnings per share. The business’s revenue was up 23.6% on a year-over-year basis. Equities research analysts forecast that First Solar will post 17.64 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Guggenheim decreased their price objective on shares of First Solar from $312.00 to $269.00 and set a “buy” rating for the company in a report on Tuesday, March 17th. Royal Bank Of Canada decreased their price objective on shares of First Solar from $258.00 to $236.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Wolfe Research lowered First Solar from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Robert W. Baird reaffirmed a “neutral” rating and issued a $205.00 price target (down from $264.00) on shares of First Solar in a research note on Wednesday, February 25th. Finally, Bank of America reduced their price target 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. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $247.03.

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.