Bayesian Capital Management LP Acquires 11,900 Shares of First Solar, Inc. (NASDAQ:FSLR)

Bayesian Capital Management LP raised its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 305.1% in the first quarter, HoldingsChannel reports. The firm owned 15,800 shares of the solar cell manufacturer’s stock after buying an additional 11,900 shares during the quarter. Bayesian Capital Management LP’s holdings in First Solar were worth $2,667,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Caxton Associates LP bought a new stake in shares of First Solar during the 1st quarter valued at about $240,000. Gendell Jeffrey L bought a new position in shares of First Solar during the 1st quarter valued at approximately $4,220,000. Mount Yale Investment Advisors LLC grew its stake in shares of First Solar by 35.8% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 8,090 shares of the solar cell manufacturer’s stock valued at $1,366,000 after acquiring an additional 2,132 shares during the period. Senator Investment Group LP bought a new position in shares of First Solar during the 1st quarter valued at approximately $18,055,000. Finally, Stamos Capital Partners L.P. grew its stake in shares of First Solar by 47.8% during the 1st quarter. Stamos Capital Partners L.P. now owns 8,940 shares of the solar cell manufacturer’s stock valued at $1,509,000 after acquiring an additional 2,890 shares during the period. 92.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling at First Solar

In other First Solar news, CFO Alexander R. Bradley sold 16,051 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the transaction, the chief financial officer now owns 30,652 shares of the company’s stock, valued at approximately $8,419,797.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Richard D. Chapman sold 3,165 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $190.48, for a total transaction of $602,869.20. Following the transaction, the director now owns 1,045 shares of the company’s stock, valued at approximately $199,051.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Alexander R. Bradley sold 16,051 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the transaction, the chief financial officer now directly owns 30,652 shares in the company, valued at approximately $8,419,797.88. The disclosure for this sale can be found here. Insiders have sold 51,153 shares of company stock valued at $12,540,428 in the last quarter. 0.58% of the stock is owned by insiders.

First Solar Trading Down 2.4 %

Shares of NASDAQ FSLR traded down $5.19 during trading hours on Tuesday, hitting $215.21. 1,863,807 shares of the company traded hands, compared to its average volume of 2,507,832. The stock has a market capitalization of $23.04 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 0.30 and a beta of 1.44. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average price is $247.71 and its 200 day moving average price is $193.53. 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 data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, beating the consensus estimate of $1.90 by $0.30. The company had revenue of $794.10 million for the quarter, compared to the consensus estimate of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. First Solar’s quarterly revenue was up 44.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 EPS. On average, equities research analysts anticipate that First Solar, Inc. will post 13.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FSLR has been the subject of a number of recent research reports. Mizuho reiterated a “neutral” rating and set a $274.00 price objective (up from $209.00) on shares of First Solar in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft boosted their price target on First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Wells Fargo & Company raised First Solar from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $187.00 to $250.00 in a report on Friday, April 19th. UBS Group boosted their price target on First Solar from $270.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Finally, Robert W. Baird decreased their price objective on First Solar from $344.00 to $307.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Five research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average target price of $273.17.

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.