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

Discovery Capital Management LLC CT purchased a new stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 32,700 shares of the solar cell manufacturer's stock, valued at approximately $5,763,000.

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC lifted its stake in First Solar by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer's stock worth $469,154,000 after purchasing an additional 63,739 shares during the last quarter. Nemes Rush Group LLC raised its position in First Solar by 543.3% in the 4th quarter. Nemes Rush Group LLC now owns 1,621 shares of the solar cell manufacturer's stock worth $286,000 after purchasing an additional 1,369 shares during the period. Franklin Resources Inc. boosted its position in First Solar by 15.0% during the fourth quarter. Franklin Resources Inc. now owns 151,328 shares of the solar cell manufacturer's stock valued at $26,670,000 after buying an additional 19,694 shares during the period. Family Legacy Inc. lifted its stake in shares of First Solar by 7.1% in the 4th quarter. Family Legacy Inc. now owns 5,806 shares of the solar cell manufacturer's stock valued at $1,110,000 after acquiring an additional 385 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in First Solar by 9.8% in the 4th quarter. Alliancebernstein L.P. now owns 194,038 shares of the solar cell manufacturer's stock worth $34,197,000 after purchasing an additional 17,389 shares during the period. 92.08% of the stock is currently owned by institutional investors.

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First Solar Stock Performance

FSLR stock traded down $8.16 during trading on Friday, reaching $128.07. The stock had a trading volume of 2,644,577 shares, compared to its average volume of 2,681,475. The stock's 50 day moving average is $146.23 and its two-hundred day moving average is $182.60. First Solar, Inc. has a 52 week low of $120.60 and a 52 week high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm has a market cap of $13.71 billion, a PE ratio of 10.92, a PEG ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. As a group, equities analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of analyst reports. Truist Financial restated a "buy" rating and issued a $245.00 price objective (down previously from $285.00) on shares of First Solar in a research report on Wednesday. Royal Bank of Canada reduced their price objective on shares of First Solar from $280.00 to $251.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. StockNews.com upgraded shares of First Solar from a "sell" rating to a "hold" rating in a report on Thursday, January 2nd. Redburn Atlantic started coverage on First Solar in a report on Monday, March 3rd. They issued a "neutral" rating for the company. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $230.00 price target (down from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $260.42.

Insider Buying and Selling

In other news, CEO Mark R. Widmar sold 1,966 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $262,952.50. Following the transaction, the chief executive officer now directly owns 111,890 shares in the company, valued at $14,965,287.50. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the completion of the transaction, the insider now owns 3,549 shares of the company's stock, valued at $484,793.40. The trade was a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,311 shares of company stock valued at $4,767,158. 0.58% of the stock is owned by corporate insiders.

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.