Geneos Wealth Management Inc. Grows Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Geneos Wealth Management Inc. lifted its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 7,854.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,932 shares of the solar cell manufacturer’s stock after purchasing an additional 11,782 shares during the period. Geneos Wealth Management Inc.’s holdings in First Solar were worth $2,014,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in First Solar by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 12,151,817 shares of the solar cell manufacturer’s stock worth $2,093,515,000 after acquiring an additional 111,786 shares in the last quarter. Schroder Investment Management Group raised its stake 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 in the last quarter. Wellington Management Group LLP raised its stake in First Solar by 10.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,283,705 shares of the solar cell manufacturer’s stock worth $369,024,000 after acquiring an additional 211,755 shares in the last quarter. Norges Bank acquired a new stake in First Solar during the 4th quarter worth $298,123,000. Finally, Northern Trust Corp raised its stake in First Solar by 1.7% during the 4th quarter. Northern Trust Corp now owns 1,020,527 shares of the solar cell manufacturer’s stock worth $175,816,000 after acquiring an additional 16,756 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Trading Up 2.1 %

Shares of First Solar stock traded up $4.88 during trading hours on Thursday, hitting $233.45. The company’s stock had a trading volume of 2,463,414 shares, compared to its average volume of 2,500,063. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77. The business has a fifty day moving average of $240.22 and a 200 day moving average of $188.63. The company has a market capitalization of $24.99 billion, a PE ratio of 24.74, a P/E/G ratio of 0.30 and a beta of 1.44. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last announced its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.30. The business had revenue of $794.10 million during the quarter, compared to the consensus estimate of $718.19 million. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The business’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 earnings per share. As a group, equities analysts forecast that First Solar, Inc. will post 13.58 EPS for the current year.

Insider Activity

In other news, Director Richard D. Chapman sold 3,165 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $190.48, for a total value of $602,869.20. Following the completion of the transaction, the director now directly owns 1,045 shares in the company, valued at $199,051.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other First Solar news, insider Kuntal Kumar Verma sold 1,621 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $260.00, for a total transaction of $421,460.00. Following the transaction, the insider now directly owns 3,549 shares in the company, valued at approximately $922,740. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard D. Chapman sold 3,165 shares of the stock in a transaction on Thursday, May 9th. The shares were 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 in the company, valued at $199,051.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,153 shares of company stock worth $12,540,428. 0.58% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FSLR has been the topic of several research analyst reports. DZ Bank lowered shares of First Solar from a “buy” rating to a “hold” rating and set a $270.00 price target on the stock. in a research note on Wednesday, May 29th. UBS Group lifted their price objective on shares of First Solar from $270.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Jefferies Financial Group lifted their price objective on shares of First Solar from $209.50 to $211.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Morgan Stanley lifted their price objective on shares of First Solar from $248.00 to $331.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. Finally, Oppenheimer lifted their price objective on shares of First Solar from $271.00 to $325.00 and gave the company an “outperform” rating in a research note on Wednesday, June 12th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $271.92.

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.