Swedbank AB Sells 4,730 Shares of First Solar, Inc. (NASDAQ:FSLR)

Swedbank AB cut its stake in First Solar, Inc. (NASDAQ:FSLR) by 3.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 124,504 shares of the solar cell manufacturer’s stock after selling 4,730 shares during the quarter. Swedbank AB’s holdings in First Solar were worth $28,071,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in First Solar by 0.9% in the first quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock worth $2,068,991,000 after acquiring an additional 105,236 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in First Solar by 11.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after buying an additional 279,719 shares during the last quarter. Schroder Investment Management Group boosted its stake in First Solar by 16.7% during the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock worth $422,861,000 after buying an additional 351,540 shares during the last quarter. Norges Bank acquired a new position in First Solar during the fourth quarter worth $298,123,000. Finally, Northern Trust Corp lifted its stake in shares of First Solar by 1.7% in the 4th quarter. Northern Trust Corp now owns 1,020,527 shares of the solar cell manufacturer’s stock valued at $175,816,000 after purchasing an additional 16,756 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FSLR. Roth Mkm reiterated a “buy” rating and issued a $320.00 price objective (up previously from $230.00) on shares of First Solar in a report on Friday, May 31st. Deutsche Bank Aktiengesellschaft upped their price target on First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Piper Sandler upped their price target on First Solar from $219.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Susquehanna upped their price target on First Solar from $258.00 to $285.00 and gave the stock a “positive” rating in a report on Wednesday, July 3rd. Finally, UBS Group upped their price target on First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, First Solar has a consensus rating of “Moderate Buy” and a consensus price target of $275.36.

First Solar Trading Down 1.8 %

First Solar stock traded down $4.18 during trading on Friday, hitting $225.40. The company’s stock had a trading volume of 1,479,129 shares, compared to its average volume of 2,488,665. The stock’s fifty day moving average is $233.97 and its 200 day moving average is $199.40. 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 quick ratio of 1.86 and a current ratio of 2.23. The stock has a market capitalization of $24.13 billion, a price-to-earnings ratio of 23.63, a P/E/G ratio of 0.37 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.56. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.85 earnings per share. As a group, equities research analysts predict that First Solar, Inc. will post 13.53 EPS for the current year.

Insider Buying and Selling at First Solar

In related news, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Caroline Stockdale sold 12,406 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $205.00, for a total value of $2,543,230.00. Following the transaction, the insider now directly owns 22,025 shares of the company’s stock, valued at $4,515,125. The disclosure for this sale can be found here. Insiders have sold 56,873 shares of company stock worth $13,949,855 over the last quarter. 0.58% of the stock is owned by corporate insiders.

First Solar Company 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.