Discovery Capital Management LLC CT Invests $5.76 Million in First Solar, Inc. (NASDAQ:FSLR)

Discovery Capital Management LLC CT purchased a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 32,700 shares of the solar cell manufacturer’s stock, valued at approximately $5,763,000.

Several other hedge funds have also recently bought and sold shares of the business. Whalen Wealth Management Inc. lifted its position in shares of First Solar by 47.0% in the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock worth $856,000 after purchasing an additional 1,554 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in First Solar by 665.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock worth $7,308,000 after buying an additional 34,074 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of First Solar by 36.9% during the 3rd quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock valued at $5,350,000 after buying an additional 5,780 shares during the period. Paragon Capital Management Inc. purchased a new position in shares of First Solar during the 4th quarter valued at $1,240,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of First Solar by 9.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock worth $104,910,000 after acquiring an additional 49,074 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Price Performance

Shares of FSLR stock opened at $126.43 on Tuesday. First Solar, Inc. has a 12 month low of $120.60 and a 12 month high of $306.77. The company has a market capitalization of $13.54 billion, a P/E ratio of 10.89, a P/E/G ratio of 0.19 and a beta of 1.52. The stock has a 50 day moving average of $148.95 and a two-hundred day moving average of $184.01. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. As a group, equities analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Buying and Selling

In other news, insider Kuntal Kumar Verma sold 7,475 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $136.60, for a total value of $1,021,085.00. Following the sale, the insider now owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. This represents a 67.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Georges Antoun sold 229 shares of First Solar stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $30,628.75. Following the completion of the transaction, the insider now owns 52,836 shares of the company’s stock, valued at $7,066,815. This trade represents a 0.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock valued at $4,767,158 over the last quarter. Corporate insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Royal Bank of Canada lowered their target price on First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Truist Financial reissued a “buy” rating and issued a $285.00 price target (down previously from $300.00) on shares of First Solar in a research note on Wednesday, February 26th. Guggenheim cut their price objective on shares of First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley decreased their target price on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft set a $265.00 price target on shares of First Solar in a report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, First Solar has an average rating of “Moderate Buy” and a consensus price target of $262.08.

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.