Evexia Wealth LLC Boosts Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

by · The Cerbat Gem

Evexia Wealth LLC raised its stake in First Solar, Inc. (NASDAQ:FSLR – Free Report) by 24.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,411 shares of the solar cell manufacturer’s stock after purchasing an additional 668 shares during the quarter. Evexia Wealth LLC’s holdings in First Solar were worth $783,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in FSLR. Sumitomo Mitsui Trust Holdings Inc. grew its position in First Solar by 6.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 259,177 shares of the solar cell manufacturer’s stock valued at $43,749,000 after acquiring an additional 15,430 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in First Solar by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 121,055 shares of the solar cell manufacturer’s stock worth $20,434,000 after purchasing an additional 20,465 shares in the last quarter. Legend Financial Advisors Inc. purchased a new position in First Solar in the first quarter valued at approximately $759,000. Burford Brothers Inc. acquired a new position in First Solar during the fourth quarter valued at approximately $3,539,000. Finally, Vanguard Group Inc. grew its stake in First Solar by 0.9% during the first quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock worth $2,068,991,000 after buying an additional 105,236 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Byron Michael Jeffers sold 1,766 shares of First Solar stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total value of $382,339.00. Following the transaction, the chief accounting officer now directly owns 500 shares in the company, valued at $108,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction 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 sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Byron Michael Jeffers sold 1,766 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the transaction, the chief accounting officer now directly owns 500 shares in the company, valued at $108,250. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,885 shares of company stock worth $2,405,757. Corporate insiders own 0.58% of the company’s stock.

First Solar Price Performance

Shares of First Solar stock traded up $6.45 on Friday, hitting $211.49. The company had a trading volume of 3,038,178 shares, compared to its average volume of 2,381,552. First Solar, Inc. has a 52 week low of $129.21 and a 52 week 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. The company has a market cap of $22.64 billion, a PE ratio of 22.17, a PEG ratio of 0.38 and a beta of 1.44. The business has a 50-day simple moving average of $227.56 and a 200-day simple moving average of $221.11.

First Solar (NASDAQ:FSLR – Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.56. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $939.71 million. During the same period last year, the firm earned $1.85 EPS. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. Research analysts expect that First Solar, Inc. will post 13.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of research reports. Susquehanna raised their target price on shares of First Solar from $258.00 to $285.00 and gave the company a “positive” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada restated an “outperform” rating and set a $315.00 price objective on shares of First Solar in a research note on Wednesday, July 31st. Truist Financial initiated coverage on First Solar in a research report on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price for the company. Clarkson Capital assumed coverage on First Solar in a report on Wednesday, August 14th. They set a “buy” rating and a $270.00 target price on the stock. Finally, BMO Capital Markets lowered their price objective on shares of First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $285.44.

Get Our Latest Report on FSLR

First Solar Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding FSLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Solar, Inc. (NASDAQ:FSLR – Free Report).