Healthcare of Ontario Pension Plan Trust Fund Lowers Position in First Solar, Inc. (NASDAQ:FSLR)

Healthcare of Ontario Pension Plan Trust Fund trimmed its position in First Solar, Inc. (NASDAQ:FSLR) by 22.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 170,635 shares of the solar cell manufacturer’s stock after selling 50,552 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in First Solar were worth $38,471,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in FSLR. Sanctuary Advisors LLC bought a new position in shares of First Solar in the 2nd quarter worth about $650,000. Teachers Retirement System of The State of Kentucky increased its stake in shares of First Solar by 691.1% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 76,368 shares of the solar cell manufacturer’s stock valued at $17,218,000 after purchasing an additional 66,715 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of First Solar by 25.1% during the second quarter. Cetera Investment Advisers now owns 30,024 shares of the solar cell manufacturer’s stock valued at $6,769,000 after purchasing an additional 6,033 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of First Solar by 10.9% during the second quarter. Truist Financial Corp now owns 6,578 shares of the solar cell manufacturer’s stock valued at $1,483,000 after purchasing an additional 648 shares during the last quarter. Finally, Senator Investment Group LP boosted its position in shares of First Solar by 18.7% in the 2nd quarter. Senator Investment Group LP now owns 126,963 shares of the solar cell manufacturer’s stock worth $28,625,000 after purchasing an additional 20,000 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar Trading Down 2.6 %

First Solar stock opened at $234.44 on Thursday. The business has a 50-day simple moving average of $226.71 and a two-hundred day simple moving average of $218.07. The company has a market cap of $25.09 billion, a P/E ratio of 24.57, a P/E/G ratio of 0.42 and a beta of 1.44. 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 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06.

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

Insider Activity

In other news, insider Patrick James Buehler sold 8,619 shares of First Solar 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 transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Byron Michael Jeffers sold 1,766 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $108,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 3,468 shares in the company, valued at $769,896. The disclosure for this sale can be found here. Insiders have sold a total of 10,885 shares of company stock valued at $2,405,757 in the last ninety days. Corporate insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

FSLR has been the subject of a number of analyst reports. BMO Capital Markets reduced their price objective on First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Bank of America raised their price target on First Solar from $320.00 to $343.00 and gave the company a “buy” rating in a report on Monday, September 16th. Truist Financial started coverage on shares of First Solar in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 price target on the stock. Piper Sandler raised their price objective on shares of First Solar from $219.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $315.00 target price on shares of First Solar in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and an average target price of $284.12.

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.