Daymark Wealth Partners LLC Invests $203,000 in First Solar, Inc. (NASDAQ:FSLR)

Daymark Wealth Partners LLC purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 900 shares of the solar cell manufacturer’s stock, valued at approximately $203,000.

A number of other hedge funds have also bought and sold shares of FSLR. Electron Capital Partners LLC raised its stake in First Solar by 81,947.0% during the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock valued at $1,729,223,000 after buying an additional 7,660,409 shares in the last quarter. Schroder Investment Management Group raised its position in shares of 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 valued at $422,861,000 after acquiring an additional 351,540 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in First Solar by 11.1% during the first 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 during the last quarter. Anomaly Capital Management LP acquired a new position in First Solar in the second quarter worth $53,752,000. Finally, Canada Pension Plan Investment Board increased its stake in First Solar by 2,429.1% during the second 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. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at First Solar

In related news, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 500 shares in the company, valued at approximately $108,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $108,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the business’s 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 sale, 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 10,885 shares of company stock valued at $2,405,757 over the last three months. Company insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $315.00 target price on shares of First Solar in a report on Wednesday, July 31st. Robert W. Baird reduced their price objective on First Solar from $344.00 to $307.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Piper Sandler upped their price objective on First Solar from $219.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Finally, 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. Five research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $284.12.

First Solar Price Performance

NASDAQ:FSLR opened at $255.75 on Friday. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $225.51 and its 200 day moving average price is $216.19. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $306.77. The firm has a market cap of $27.38 billion, a P/E ratio of 26.81, a PEG ratio of 0.42 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last released its earnings results 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. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.85 EPS. As a group, sell-side analysts predict that First Solar, Inc. will post 13.62 earnings per share for the current fiscal 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.