Samlyn Capital LLC Sells 727,765 Shares of First Solar, Inc. (NASDAQ:FSLR)

Samlyn Capital LLC trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 40.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,067,971 shares of the solar cell manufacturer’s stock after selling 727,765 shares during the quarter. First Solar comprises 4.0% of Samlyn Capital LLC’s portfolio, making the stock its 3rd biggest holding. Samlyn Capital LLC’s holdings in First Solar were worth $240,785,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Schroder Investment Management Group grew its position in First Solar by 16.7% during the 4th quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock worth $422,861,000 after acquiring an additional 351,540 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in First Solar by 11.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after purchasing an additional 279,719 shares in the last quarter. Anomaly Capital Management LP bought a new position in First Solar during the 2nd quarter worth about $53,752,000. Canada Pension Plan Investment Board lifted its stake in First Solar by 2,429.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 174,530 shares of the solar cell manufacturer’s stock valued at $39,350,000 after purchasing an additional 167,629 shares during the last quarter. Finally, Park West Asset Management LLC acquired a new stake in First Solar in the 4th quarter valued at about $26,359,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the transaction, the insider now 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 is available through the SEC website. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction on 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 owns 3,468 shares of the company’s stock, valued at approximately $769,896. The sale was disclosed in a legal 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 stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the sale, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at $108,250. The disclosure for this sale can be found here. Insiders have sold 10,885 shares of company stock worth $2,405,757 in the last three months. 0.58% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on FSLR shares. DZ Bank raised shares of First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price on the stock in a report on Thursday, August 1st. 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 report on Tuesday, June 4th. Oppenheimer boosted their target price on shares of First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Bank of America boosted their target price on shares of First Solar from $320.00 to $343.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of First Solar from $262.00 to $282.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $283.46.

First Solar Stock Performance

Shares of FSLR stock opened at $249.28 on Tuesday. The stock has a market capitalization of $26.68 billion, a P/E ratio of 26.13, a PEG ratio of 0.40 and a beta of 1.44. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $222.75 and its 200 day moving average is $214.08. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. First Solar’s revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.85 EPS. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.6 earnings per share for the current year.

First Solar 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.