Andra AP fonden Raises Stock Holdings in First Solar, Inc. $FSLR

Andra AP fonden boosted its position in First Solar, Inc. (NASDAQ:FSLR) by 25.1% in the second quarter, Holdings Channel.com reports. The firm owned 97,856 shares of the solar cell manufacturer’s stock after buying an additional 19,607 shares during the quarter. Andra AP fonden’s holdings in First Solar were worth $23,090,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FSLR. BlackRock Inc. bought a new stake in shares of First Solar during the 2nd quarter valued at $3,310,298,000. ABS Investment Management LLC bought a new position in shares of First Solar in the 2nd quarter worth about $1,297,780,000. Geode Capital Management LLC lifted its position in First Solar by 0.8% during 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. Hill City Capital LP bought a new stake in First Solar during the second quarter worth about $620,133,555. Finally, Norges Bank bought a new stake in First Solar during the fourth quarter worth about $392,040,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of NASDAQ:FSLR traded up $1.34 during trading on Tuesday, reaching $201.18. 862,358 shares of the stock traded hands, compared to its average volume of 2,358,138. The stock has a market cap of $21.62 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 0.52 and a beta of 1.74. The stock has a 50-day moving average of $213.21 and a two-hundred day moving average of $221.24. First Solar, Inc. has a 52-week low of $182.99 and a 52-week high of $320.95.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $1.02. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. First Solar had a net margin of 32.47% and a return on equity of 18.02%. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.18 EPS. Sell-side analysts expect that First Solar, Inc. will post 17.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Samantha L. Sloan sold 127 shares of First Solar stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $222.95, for a total value of $28,314.65. Following the completion of the sale, the executive vice president directly owned 2,018 shares in the company, valued at approximately $449,913.10. This trade represents a 5.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Koralewski sold 7,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $221.51, for a total value of $1,550,570.00. Following the completion of the transaction, the insider directly owned 7,642 shares of the company’s stock, valued at approximately $1,692,779.42. This trade represents a 47.81% decrease in their position. 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 15,881 shares of company stock worth $3,617,086 over the last three months. Company insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

FSLR has been the subject of a number of analyst reports. Citigroup downgraded shares of First Solar from a “buy” rating to a “hold” rating in a research note on Thursday, August 27th. Jefferies Financial Group set a $196.00 price target on First Solar in a research report on Monday, August 3rd. Roth Capital restated a “buy” rating and issued a $300.00 price target on shares of First Solar in a research note on Friday, July 24th. TD Cowen reaffirmed a “buy” rating on shares of First Solar in a research report on Monday, July 20th. Finally, Guggenheim lifted their price objective on First Solar from $279.00 to $282.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $266.06.

First Solar Profile

First Solar, Inc is a renewable energy technology company that designs and manufactures photovoltaic (PV) solar modules. Unlike conventional crystalline-silicon panels, its modules use thin-film semiconductor technology based on cadmium telluride (CdTe). The company also provides supporting services, including project development, engineering, procurement and construction support, operations and maintenance, and module recycling.

First Solar primarily serves utility-scale solar developers, system owners and operators, commercial customers, and government entities.