Bayesian Capital Management LP Has $2.67 Million Stake in First Solar, Inc. (NASDAQ:FSLR)

Bayesian Capital Management LP boosted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 305.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,800 shares of the solar cell manufacturer’s stock after purchasing an additional 11,900 shares during the quarter. Bayesian Capital Management LP’s holdings in First Solar were worth $2,667,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of FSLR. Dixon Mitchell Investment Counsel Inc. bought a new position in First Solar in the 1st quarter valued at about $25,000. University of Texas Texas AM Investment Managment Co. bought a new position in First Solar in the 4th quarter valued at about $27,000. Baystate Wealth Management LLC bought a new position in First Solar in the 4th quarter valued at about $29,000. Riverview Trust Co bought a new position in First Solar in the 1st quarter valued at about $32,000. Finally, Rakuten Securities Inc. bought a new position in First Solar in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. DZ Bank lowered shares of First Solar from a “buy” rating to a “hold” rating and set a $270.00 price target on the stock. in a report on Wednesday, May 29th. The Goldman Sachs Group lifted their price target on shares of First Solar from $268.00 to $302.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Morgan Stanley lifted their price target on shares of First Solar from $248.00 to $331.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. Roth Mkm reaffirmed a “buy” rating and set a $320.00 price target (up from $230.00) on shares of First Solar in a report on Friday, May 31st. Finally, Barclays lifted their price target on shares of First Solar from $227.00 to $228.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Five analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $273.17.

Insider Activity at First Solar

In related news, CFO Alexander R. Bradley sold 16,051 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the transaction, the chief financial officer now owns 30,652 shares in the company, valued at approximately $8,419,797.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Richard D. Chapman sold 3,165 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $190.48, for a total transaction of $602,869.20. Following the transaction, the director now owns 1,045 shares in the company, valued at approximately $199,051.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alexander R. Bradley sold 16,051 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the sale, the chief financial officer now owns 30,652 shares of the company’s stock, valued at approximately $8,419,797.88. The disclosure for this sale can be found here. Insiders have sold 51,153 shares of company stock worth $12,540,428 in the last quarter. Company insiders own 0.58% of the company’s stock.

First Solar Trading Down 2.4 %

Shares of NASDAQ FSLR traded down $5.19 during midday trading on Tuesday, reaching $215.21. The stock had a trading volume of 1,863,807 shares, compared to its average volume of 2,507,832. The firm has a market cap of $23.04 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 0.30 and a beta of 1.44. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $306.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41. The company’s 50 day moving average price is $247.71 and its 200 day moving average price is $193.53.

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 firm had revenue of $794.10 million for the quarter, compared to the consensus estimate of $718.19 million. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The company’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 EPS. As a group, sell-side analysts expect that First Solar, Inc. will post 13.58 EPS for the current year.

First Solar Company Profile

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.