Lombard Odier Asset Management Europe Ltd Sells 25,210 Shares of First Solar, Inc. $FSLR

Lombard Odier Asset Management Europe Ltd lessened its holdings in First Solar, Inc. (NASDAQ:FSLR) by 41.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 36,217 shares of the solar cell manufacturer’s stock after selling 25,210 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in First Solar were worth $9,461,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in First Solar by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer’s stock valued at $3,026,108,000 after acquiring an additional 464,130 shares in the last quarter. Geode Capital Management LLC raised its position in shares of First Solar by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 2,919,991 shares of the solar cell manufacturer’s stock worth $761,396,000 after acquiring an additional 24,206 shares in the last quarter. Viking Global Investors LP lifted its stake in shares of 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 worth $375,122,000 after purchasing an additional 854,919 shares during the last quarter. Amundi lifted its stake in shares of First Solar by 38.6% during the 3rd quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer’s stock worth $459,917,000 after purchasing an additional 564,032 shares during the last quarter. Finally, Norges Bank bought a new stake in First Solar during the fourth quarter valued at about $392,040,000. Institutional investors own 92.08% of the company’s stock.

Insider Activity at First Solar

In other news, CEO Mark R. Widmar sold 4,815 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $247.43, for a total value of $1,191,375.45. Following the sale, the chief executive officer owned 89,033 shares in the company, valued at $22,029,435.19. This represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kuntal Kumar Verma sold 582 shares of First Solar stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $250.00, for a total value of $145,500.00. Following the transaction, the insider owned 4,967 shares of the company’s stock, valued at approximately $1,241,750. This represents a 10.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 32,466 shares of company stock worth $8,014,105 in the last three months. Company insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on FSLR. Mizuho boosted their target price on shares of First Solar from $243.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, June 12th. Morgan Stanley lowered their price target on shares of First Solar from $275.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 28th. Citigroup reduced their price objective on shares of First Solar from $300.00 to $243.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. HSBC increased their target price on shares of First Solar from $211.00 to $231.00 and gave the company a “hold” rating in a research report on Tuesday, May 5th. Finally, Evercore lifted their price target on shares of First Solar from $212.00 to $219.00 in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $250.99.

First Solar Stock Performance

Shares of FSLR opened at $264.36 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. The stock has a 50-day moving average of $234.90 and a two-hundred day moving average of $233.51. The stock has a market cap of $28.41 billion, a P/E ratio of 17.08, a P/E/G ratio of 0.60 and a beta of 1.71. First Solar, Inc. has a one year low of $135.50 and a one year high of $320.95.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the business posted $1.95 earnings per share. The company’s revenue for the quarter was up 23.6% compared to the same quarter last year. As a group, research analysts predict that First Solar, Inc. will post 17.61 EPS for the current year.

About First Solar

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.