E. Ohman J or Asset Management AB raised its position in First Solar, Inc. (NASDAQ:FSLR – Free Report) by 1.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 137,176 shares of the solar cell manufacturer’s stock after purchasing an additional 2,154 shares during the quarter. E. Ohman J or Asset Management AB owned about 0.13% of First Solar worth $27,059,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC increased its position in First Solar by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 2,919,991 shares of the solar cell manufacturer’s stock valued at $761,396,000 after acquiring an additional 24,206 shares during the period. Viking Global Investors LP boosted its position in First Solar by 60.6% during the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after acquiring an additional 854,919 shares during the period. Amundi boosted its position in First Solar by 9.4% during the 4th quarter. Amundi now owns 2,215,461 shares of the solar cell manufacturer’s stock worth $578,791,000 after acquiring an additional 189,626 shares during the period. Norges Bank bought a new position in shares of First Solar in the fourth quarter worth $392,040,000. Finally, Schroder Investment Management Group grew its stake in shares of First Solar by 7.6% in the fourth quarter. Schroder Investment Management Group now owns 1,427,105 shares of the solar cell manufacturer’s stock worth $372,803,000 after purchasing an additional 100,908 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the company. Evercore raised their price target on First Solar from $212.00 to $219.00 in a report on Monday, May 4th. Morgan Stanley reduced their price objective on shares of First Solar from $275.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 28th. Zacks Research upgraded shares of First Solar from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Mizuho raised their target price on shares of First Solar from $243.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, June 12th. Finally, Wall Street Zen downgraded shares of First Solar from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and an average target price of $249.78.
Insider Transactions at First Solar
In other news, insider Kuntal Kumar Verma sold 582 shares of First Solar stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $250.00, for a total value of $145,500.00. Following the transaction, the insider owned 4,967 shares of the company’s stock, valued at $1,241,750. The trade was a 10.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Markus Gloeckler sold 420 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $90,564.60. Following the completion of the sale, the chief technology officer owned 10,896 shares in the company, valued at $2,349,504.48. The trade was a 3.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 32,466 shares of company stock valued at $8,014,105 in the last quarter. 0.39% of the stock is owned by company insiders.
First Solar Price Performance
Shares of FSLR stock opened at $257.70 on Friday. First Solar, Inc. has a 1 year low of $139.26 and a 1 year high of $320.95. The stock has a market cap of $27.69 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 0.57 and a beta of 1.71. The business’s fifty day moving average is $238.53 and its 200-day moving average is $233.45. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56.
First Solar (NASDAQ:FSLR – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.35. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The company’s revenue was up 23.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.95 earnings per share. Equities analysts expect that First Solar, Inc. will post 17.61 earnings per share for the current fiscal year.
First Solar Company Profile
First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.
Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.
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