E. Ohman J or Asset Management AB Sells 6,880 Shares of First Solar, Inc. $FSLR

E. Ohman J or Asset Management AB cut its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 4.8% during the 4th quarter, HoldingsChannel reports. The firm owned 135,022 shares of the solar cell manufacturer’s stock after selling 6,880 shares during the period. First Solar accounts for about 0.8% of E. Ohman J or Asset Management AB’s investment portfolio, making the stock its 28th biggest holding. E. Ohman J or Asset Management AB’s holdings in First Solar were worth $35,272,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of FSLR. Norges Bank purchased a new stake in shares of First Solar in the second quarter worth $212,621,000. Viking Global Investors LP raised its holdings in shares of First Solar by 60.6% during the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock valued at $375,122,000 after purchasing an additional 854,919 shares during the last quarter. Amundi lifted its holdings in shares of First Solar by 38.6% during the 3rd quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer’s stock valued at $459,917,000 after buying an additional 564,032 shares during the period. Vanguard Group Inc. lifted its holdings in First Solar by 3.5% in the third quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer’s stock valued at $3,026,108,000 after acquiring an additional 464,130 shares during the period. Finally, Atreides Management LP bought a new position in shares of First Solar in the 2nd quarter worth approximately $65,134,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Robert W. Baird reaffirmed a “neutral” rating and set a $205.00 price objective (down from $264.00) on shares of First Solar in a research report on Wednesday, February 25th. Susquehanna reduced their price objective on First Solar from $292.00 to $280.00 and set a “positive” rating on the stock in a research note on Wednesday, February 25th. BMO Capital Markets set a $263.00 price target on shares of First Solar in a research report on Thursday, January 29th. Glj Research cut shares of First Solar from a “buy” rating to a “hold” rating and decreased their target price for the company from $314.43 to $207.82 in a research report on Wednesday, March 4th. Finally, Daiwa Securities Group increased their price target on First Solar from $215.00 to $284.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Twenty analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average target price of $248.17.

First Solar Price Performance

Shares of FSLR stock opened at $189.92 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.35 and a current ratio of 2.67. The stock’s 50-day simple moving average is $220.75 and its 200-day simple moving average is $236.41. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $285.99. The firm has a market capitalization of $20.38 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 0.34 and a beta of 1.65.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share for the quarter, missing the consensus estimate of $5.22 by ($0.38). The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.59 billion. First Solar had a return on equity of 17.32% and a net margin of 29.28%.First Solar’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.65 EPS. As a group, equities analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Mark R. Widmar sold 1,937 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $200.80, for a total transaction of $388,949.60. Following the transaction, the chief executive officer owned 102,798 shares in the company, valued at $20,641,838.40. This trade represents a 1.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Caroline Stockdale sold 335 shares of First Solar stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $200.80, for a total transaction of $67,268.00. Following the completion of the sale, the insider owned 34,060 shares in the company, valued at approximately $6,839,248. This trade represents a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 75,989 shares of company stock valued at $14,921,902. 0.48% of the stock is owned by insiders.

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.