Telemark Asset Management LLC Buys New Stake in First Solar, Inc. $FSLR

Telemark Asset Management LLC bought a new stake in First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 50,000 shares of the solar cell manufacturer’s stock, valued at approximately $13,062,000. First Solar makes up about 1.3% of Telemark Asset Management LLC’s investment portfolio, making the stock its 27th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of FSLR. Woodline Partners LP boosted its stake in First Solar by 40.7% during the first quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock worth $1,143,000 after buying an additional 2,615 shares during the period. EverSource Wealth Advisors LLC boosted its stake in First Solar by 50.9% during the second quarter. EverSource Wealth Advisors LLC now owns 516 shares of the solar cell manufacturer’s stock worth $85,000 after buying an additional 174 shares during the period. Brown Advisory Inc. boosted its stake in First Solar by 84.3% during the second quarter. Brown Advisory Inc. now owns 4,529 shares of the solar cell manufacturer’s stock worth $750,000 after buying an additional 2,072 shares during the period. Cerity Partners LLC purchased a new position in First Solar during the second quarter worth $494,000. Finally, AXA S.A. boosted its stake in First Solar by 6.3% during the second quarter. AXA S.A. now owns 18,862 shares of the solar cell manufacturer’s stock worth $3,122,000 after buying an additional 1,115 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Stock Down 11.4%

Shares of FSLR opened at $279.01 on Friday. The firm has a market capitalization of $29.98 billion, a P/E ratio of 18.02, a P/E/G ratio of 0.62 and a beta of 1.71. First Solar, Inc. has a 12-month low of $135.50 and a 12-month high of $320.95. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a fifty day moving average price of $224.60 and a 200-day moving average price of $233.15.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The business’s revenue was up 23.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.95 earnings per share. Equities research analysts expect that First Solar, Inc. will post 17.61 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Robert W. Baird reaffirmed a “neutral” rating and set a $205.00 price objective (down from $264.00) on shares of First Solar in a research note on Wednesday, February 25th. Wells Fargo & Company dropped their price objective on shares of First Solar from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Zacks Research raised shares of First Solar from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Barclays dropped their price objective on shares of First Solar from $228.00 to $213.00 and set an “overweight” rating for the company in a research note on Monday, April 20th. Finally, Mizuho dropped their price objective on shares of First Solar from $271.00 to $243.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $247.40.

Insider Activity

In other news, insider Caroline Stockdale sold 10,628 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $275.60, for a total transaction of $2,929,076.80. Following the completion of the sale, the insider directly owned 23,792 shares of the company’s stock, valued at approximately $6,557,075.20. The trade was a 30.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Georges Antoun sold 566 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $122,046.58. Following the sale, the insider directly owned 19,918 shares of the company’s stock, valued at $4,294,918.34. This represents a 2.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 76,480 shares of company stock valued at $16,668,515. Insiders own 0.39% of the company’s stock.

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.