Swedbank AB Has $38.55 Million Holdings in First Solar, Inc. $FSLR

Swedbank AB raised its position in shares of First Solar, Inc. (NASDAQ:FSLRFree Report) by 15.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 195,401 shares of the solar cell manufacturer’s stock after acquiring an additional 25,563 shares during the period. Swedbank AB’s holdings in First Solar were worth $38,545,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FSLR. Collaborative Fund Advisors LLC acquired a new position in shares of First Solar in the first quarter valued at approximately $696,000. Ascentis Independent Advisors acquired a new stake in First Solar during the 1st quarter worth approximately $80,000. Stephens Inc. AR lifted its holdings in First Solar by 8.7% during the 1st quarter. Stephens Inc. AR now owns 34,841 shares of the solar cell manufacturer’s stock worth $6,912,000 after purchasing an additional 2,786 shares during the last quarter. Praxis Investment Management Inc. boosted its stake in First Solar by 20.0% in the 1st quarter. Praxis Investment Management Inc. now owns 8,075 shares of the solar cell manufacturer’s stock valued at $1,593,000 after purchasing an additional 1,345 shares during the period. Finally, Koshinski Asset Management Inc. boosted its stake in First Solar by 3.3% in the 1st quarter. Koshinski Asset Management Inc. now owns 2,248 shares of the solar cell manufacturer’s stock valued at $443,000 after purchasing an additional 72 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Down 1.5%

FSLR stock opened at $224.30 on Thursday. First Solar, Inc. has a 52 week low of $159.85 and a 52 week high of $320.95. The business has a 50-day simple moving average of $249.51 and a 200 day simple moving average of $231.27. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. The company has a market cap of $24.10 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 0.50 and a beta of 1.73.

First Solar (NASDAQ:FSLRGet Free Report) last announced its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the company posted $1.95 earnings per share. The business’s revenue for the quarter was up 23.6% on a year-over-year basis. Sell-side analysts anticipate that First Solar, Inc. will post 17.61 EPS for the current fiscal year.

Insider Activity at First Solar

In related news, insider Caroline Stockdale sold 10,628 shares of First Solar stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $275.60, for a total value of $2,929,076.80. Following the transaction, the insider directly owned 23,792 shares of the company’s stock, valued at $6,557,075.20. This trade represents a 30.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark R. Widmar sold 4,815 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $247.43, for a total transaction of $1,191,375.45. Following the transaction, the chief executive officer owned 89,033 shares of the company’s stock, valued at approximately $22,029,435.19. This represents a 5.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,466 shares of company stock worth $8,014,105 in the last 90 days. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FSLR shares. UBS Group lifted their target price on First Solar from $290.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Weiss Ratings upgraded shares of First Solar from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. Barclays lowered their price target on shares of First Solar from $228.00 to $213.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. Morgan Stanley dropped their price objective on shares of First Solar from $275.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 28th. Finally, Argus boosted their price objective on shares of First Solar from $250.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $253.06.

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About First Solar

(Free Report)

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

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