Artemis Investment Management LLP Sells 1,502 Shares of First Solar, Inc. (NASDAQ:FSLR)

Artemis Investment Management LLP lowered its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 47.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,655 shares of the solar cell manufacturer’s stock after selling 1,502 shares during the period. Artemis Investment Management LLP’s holdings in First Solar were worth $279,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of FSLR. University of Texas Texas AM Investment Managment Co. bought a new position in shares of First Solar in the 4th quarter worth approximately $27,000. Baystate Wealth Management LLC bought a new position in shares of First Solar in the 4th quarter worth approximately $29,000. Riverview Trust Co bought a new position in shares of First Solar in the 1st quarter worth approximately $32,000. Headinvest LLC bought a new position in shares of First Solar in the 3rd quarter worth approximately $30,000. Finally, Rakuten Securities Inc. bought a new position in shares of First Solar in the 4th quarter worth approximately $34,000. Institutional investors own 92.08% of the company’s stock.

First Solar Trading Down 9.8 %

FSLR traded down $24.46 during trading on Friday, reaching $225.46. The company had a trading volume of 6,080,435 shares, compared to its average volume of 2,490,773. The stock has a market cap of $24.13 billion, a P/E ratio of 23.73, a PEG ratio of 0.32 and a beta of 1.48. The business has a 50 day simple moving average of $231.56 and a 200-day simple moving average of $184.36. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $306.77. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. The company had revenue of $794.10 million during the quarter, compared to the consensus estimate of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. First Solar’s revenue was up 44.8% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. On average, equities analysts anticipate that First Solar, Inc. will post 13.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FSLR has been the topic of several recent research reports. UBS Group increased their price objective on shares of First Solar from $270.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. The Goldman Sachs Group raised their target price on shares of First Solar from $268.00 to $302.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Barclays raised their target price on shares of First Solar from $227.00 to $228.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Guggenheim decreased their target price on shares of First Solar from $359.00 to $356.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Finally, Piper Sandler raised their target price on shares of First Solar from $195.00 to $219.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st. Five research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average price target of $267.52.

Insider Buying and Selling

In other news, CFO Alexander R. Bradley sold 16,051 shares of First Solar stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the completion of the sale, the chief financial officer now directly owns 30,652 shares in the company, valued at $8,419,797.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Kuntal Kumar Verma sold 1,621 shares of First Solar stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $260.00, for a total value of $421,460.00. Following the completion of the sale, the insider now directly owns 3,549 shares in the company, valued at $922,740. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alexander R. Bradley sold 16,051 shares of First Solar stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $274.69, for a total value of $4,409,049.19. Following the completion of the sale, the chief financial officer now owns 30,652 shares of the company’s stock, valued at $8,419,797.88. The disclosure for this sale can be found here. Insiders sold a total of 57,890 shares of company stock worth $13,709,131 over the last three months. 0.58% of the stock is owned by insiders.

About First Solar

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.