Lecap Asset Management Ltd. Decreases Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Lecap Asset Management Ltd. lessened its holdings in First Solar, Inc. (NASDAQ:FSLR) by 29.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,264 shares of the solar cell manufacturer’s stock after selling 3,006 shares during the period. Lecap Asset Management Ltd.’s holdings in First Solar were worth $1,812,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Dixon Mitchell Investment Counsel Inc. purchased a new position in First Solar in the first quarter valued at about $25,000. AlphaMark Advisors LLC acquired a new position in First Solar during the 3rd quarter worth approximately $25,000. Atlas Capital Advisors LLC boosted its holdings in First Solar by 411.1% in the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after acquiring an additional 111 shares during the period. Riverview Trust Co acquired a new stake in First Solar in the first quarter valued at approximately $32,000. Finally, Summit Securities Group LLC purchased a new stake in shares of First Solar during the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insiders Place Their Bets

In other news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the completion of the transaction, the chief accounting officer now owns 500 shares in the company, valued at $108,250. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now owns 3,468 shares in the company, valued at $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,885 shares of company stock worth $2,405,757. Insiders own 0.58% of the company’s stock.

First Solar Price Performance

Shares of FSLR opened at $201.40 on Wednesday. First Solar, Inc. has a 12 month low of $129.21 and a 12 month 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 stock has a fifty day moving average price of $225.93 and a 200 day moving average price of $223.58. The company has a market cap of $21.56 billion, a P/E ratio of 21.11, a PEG ratio of 0.38 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping the consensus estimate of $2.69 by $0.56. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.85 earnings per share. On average, research analysts forecast that First Solar, Inc. will post 13.53 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FSLR. Clarkson Capital started coverage on shares of First Solar in a report on Wednesday, August 14th. They set a “buy” rating and a $270.00 price target for the company. UBS Group raised their target price on First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Bank of America cut their price target on First Solar from $343.00 to $321.00 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. Susquehanna lowered their price objective on First Solar from $285.00 to $280.00 and set a “positive” rating for the company in a research note on Wednesday, October 16th. Finally, Truist Financial assumed coverage on First Solar in a research report on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $288.46.

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.