First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Point72 Europe London LLP

Point72 Europe London LLP lowered its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 31.1% in the second quarter, HoldingsChannel.com reports. The firm owned 43,230 shares of the solar cell manufacturer’s stock after selling 19,508 shares during the quarter. Point72 Europe London LLP’s holdings in First Solar were worth $9,747,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Oregon Public Employees Retirement Fund lifted its holdings in First Solar by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock worth $2,068,000 after buying an additional 49 shares during the last quarter. Cambridge Trust Co. boosted its holdings in First Solar by 1.6% in the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock valued at $546,000 after purchasing an additional 50 shares in the last quarter. Great Diamond Partners LLC increased its stake in First Solar by 3.8% in the first quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer’s stock valued at $247,000 after purchasing an additional 53 shares during the last quarter. Xponance Inc. raised its holdings in First Solar by 0.4% during the second quarter. Xponance Inc. now owns 15,346 shares of the solar cell manufacturer’s stock worth $3,460,000 after purchasing an additional 56 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of First Solar by 24.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the solar cell manufacturer’s stock valued at $70,000 after buying an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insider Buying and Selling

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

First Solar Price Performance

First Solar stock opened at $244.73 on Wednesday. The company has a market cap of $26.20 billion, a P/E ratio of 25.65, a price-to-earnings-growth ratio of 0.42 and a beta of 1.44. First Solar, Inc. has a one year low of $129.21 and a one year high of $306.77. The business has a fifty day moving average of $223.22 and a two-hundred day moving average of $214.67. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. During the same quarter in the previous year, the firm earned $1.85 earnings per share. The firm’s revenue was up 24.6% on a year-over-year basis. As a group, analysts predict that First Solar, Inc. will post 13.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on FSLR. The Goldman Sachs Group lifted their price target 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. Oppenheimer boosted their target price on First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $315.00 price target on shares of First Solar in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Finally, Bank of America lifted their target price on shares of First Solar from $320.00 to $343.00 and gave the company a “buy” rating in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $283.46.

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.