BI Asset Management Fondsmaeglerselskab A S Acquires 11,276 Shares of First Solar, Inc. (NASDAQ:FSLR)

BI Asset Management Fondsmaeglerselskab A S lifted its stake in First Solar, Inc. (NASDAQ:FSLRFree Report) by 27.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,257 shares of the solar cell manufacturer’s stock after acquiring an additional 11,276 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in First Solar were worth $8,821,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of FSLR. Norges Bank bought a new position in First Solar in the fourth quarter valued at approximately $298,123,000. Schroder Investment Management Group grew its stake in shares of First Solar by 16.7% in the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock valued at $422,861,000 after buying an additional 351,540 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in First Solar by 504.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock worth $68,852,000 after buying an additional 333,496 shares during the last quarter. Vanguard Group Inc. raised its position in First Solar by 2.4% during the third quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock worth $1,945,549,000 after acquiring an additional 279,424 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in First Solar by 10.2% during the third 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. Institutional investors own 92.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. BMO Capital Markets boosted their price objective on shares of First Solar from $224.00 to $311.00 and gave the stock an “outperform” rating in a research note on Monday, June 10th. Janney Montgomery Scott downgraded First Solar from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $315.00 price objective on shares of First Solar in a research report on Monday. Roth Mkm reissued a “buy” rating and set a $320.00 target price (up from $230.00) on shares of First Solar in a report on Friday, May 31st. Finally, Wells Fargo & Company upgraded First Solar from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $187.00 to $250.00 in a research note on Friday, April 19th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average price target of $271.92.

View Our Latest Analysis on First Solar

First Solar Price Performance

NASDAQ:FSLR traded up $3.85 during trading hours on Wednesday, reaching $229.08. 508,308 shares of the company were exchanged, compared to its average volume of 2,491,164. The business has a 50 day moving average of $239.20 and a 200 day moving average of $188.35. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86. The company has a market capitalization of $24.52 billion, a P/E ratio of 23.77, a P/E/G ratio of 0.30 and a beta of 1.44.

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

Insiders Place Their Bets

In other news, insider Kuntal Kumar Verma sold 1,621 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 3,549 shares of the company’s stock, valued at approximately $922,740. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Kuntal Kumar Verma sold 1,621 shares of First Solar stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $260.00, for a total value of $421,460.00. Following the transaction, the insider now owns 3,549 shares in the company, valued at approximately $922,740. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 sale, the chief financial officer now owns 30,652 shares of the company’s stock, valued at $8,419,797.88. The disclosure for this sale can be found here. Insiders have sold 51,153 shares of company stock worth $12,540,428 over the last ninety days. Corporate insiders own 0.58% of the company’s stock.

About First Solar

(Free Report)

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.

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Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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