First Solar, Inc. (NASDAQ:FSLR) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lowered its stake in First Solar, Inc. (NASDAQ:FSLR) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 500,810 shares of the solar cell manufacturer’s stock after selling 3,368 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.47% of First Solar worth $125,228,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Atlas Capital Advisors LLC boosted its position in shares of First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after purchasing an additional 111 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of First Solar during the first quarter worth $25,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of First Solar in the 4th quarter valued at $27,000. Summit Securities Group LLC acquired a new position in First Solar during the 2nd quarter worth about $36,000. Finally, Riverview Trust Co purchased a new position in First Solar during the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

FSLR stock opened at $235.95 on Friday. The business has a 50 day simple moving average of $220.93 and a 200-day simple moving average of $209.11. The company has a market capitalization of $25.26 billion, a P/E ratio of 24.73, a PEG ratio of 0.40 and a beta of 1.44. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $306.77. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $939.71 million. During the same period in the prior year, the company earned $1.85 earnings per share. The business’s revenue was up 24.6% compared to the same quarter last year. As a group, equities analysts anticipate that First Solar, Inc. will post 13.6 EPS for the current year.

Insider Transactions at First Solar

In related news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the transaction, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other First Solar news, insider Kuntal Kumar Verma sold 1,621 shares of the 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 completion of the transaction, the insider now owns 3,549 shares in the company, valued at $922,740. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now owns 3,468 shares in the company, valued at $769,896. The disclosure for this sale can be found here. Insiders sold 12,506 shares of company stock worth $2,827,217 over the last 90 days. 0.58% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FSLR has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $315.00 price objective on shares of First Solar in a research note on Wednesday, July 31st. DZ Bank upgraded First Solar from a “hold” rating to a “buy” rating and set a $280.00 price objective on the stock in a research note on Thursday, August 1st. Robert W. Baird lowered their target price on First Solar from $344.00 to $307.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. The Goldman Sachs Group increased their price target on First Solar from $268.00 to $302.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Finally, Oppenheimer boosted their price objective on First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and an average price target of $277.25.

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.