ABN AMRO Bank N.V. Has $39.67 Million Stake in First Solar, Inc. $FSLR

Key Points

• ABN AMRO Bank N.V. increased its First Solar stake by 8.9% in the first quarter, ending with 198,911 shares valued at about $39.7 million.
• Wall Street sentiment remains broadly positive: First Solar has a Moderate Buy consensus rating and an average price target of $249.78, with several firms recently raising targets or maintaining bullish views.
• First Solar reported better-than-expected quarterly results, posting EPS of $3.22 versus the $2.87 estimate and revenue of $1.04 billion, while insider selling has continued in recent months.

ABN AMRO Bank N.V. grew its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 8.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 198,911 shares of the solar cell manufacturer's stock after purchasing an additional 16,281 shares during the period. ABN AMRO Bank N.V. owned approximately 0.19% of First Solar worth $39,668,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Union Bancaire Privee UBP SA grew its position in First Solar by 21.5% in the first quarter. Union Bancaire Privee UBP SA now owns 46,802 shares of the solar cell manufacturer's stock valued at $9,232,000 after purchasing an additional 8,270 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of First Solar in the first quarter valued at about $1,085,000. Contravisory Investment Management Inc. bought a new stake in First Solar during the first quarter worth about $759,000. Kestra Private Wealth Services LLC raised its holdings in First Solar by 140.7% during the first quarter. Kestra Private Wealth Services LLC now owns 4,428 shares of the solar cell manufacturer's stock worth $873,000 after acquiring an additional 2,588 shares in the last quarter. Finally, Cardinal Point Capital Management ULC boosted its position in First Solar by 16.6% during the first quarter. Cardinal Point Capital Management ULC now owns 1,405 shares of the solar cell manufacturer's stock valued at $277,000 after purchasing an additional 200 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FSLR shares. HSBC raised their price target on First Solar from $211.00 to $231.00 and gave the company a "hold" rating in a research note on Tuesday, May 5th. Zacks Research raised First Solar from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. Weiss Ratings raised First Solar from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday. Guggenheim raised their target price on shares of First Solar from $269.00 to $279.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. Finally, Barclays lowered their target price on shares of First Solar from $228.00 to $213.00 and set an "overweight" rating on the stock in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $249.78.

Insider Activity

In other news, insider Kuntal Kumar Verma sold 582 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $250.00, for a total transaction of $145,500.00. Following the transaction, the insider directly owned 4,967 shares of the company's stock, valued at approximately $1,241,750. This trade represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alexander R. Bradley sold 498 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total value of $107,383.74. Following the sale, the chief financial officer directly owned 30,712 shares in the company, valued at $6,622,428.56. This represents a 1.60% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 32,466 shares of company stock worth $8,014,105. Insiders own 0.39% of the company's stock.

First Solar Trading Down 3.8%

Shares of FSLR stock opened at $239.07 on Friday. First Solar, Inc. has a 12-month low of $149.54 and a 12-month high of $320.95. The company has a market capitalization of $25.69 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 0.53 and a beta of 1.71. The firm has a 50 day moving average price of $243.56 and a two-hundred day moving average price of $233.11. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, beating the consensus estimate of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the business earned $1.95 earnings per share. The firm's revenue for the quarter was up 23.6% on a year-over-year basis. As a group, analysts predict that First Solar, Inc. will post 17.61 earnings per share for the current year.

Trending Headlines about First Solar

Here are the key news stories impacting First Solar this week:

• Negative Sentiment: Several firms, including Howard G. Smith, Bronstein Gewirtz & Grossman, Rosen Law, Pomerantz, Portnoy, and the Schall Law Firm, announced or promoted class-action cases tied to First Solar, increasing legal overhang and headline risk. Article Title
• Negative Sentiment: Multiple securities-fraud investigations were also launched or reiterated by plaintiff firms, suggesting investors are actively probing whether earlier company disclosures may have been misleading. Article Title
• Neutral Sentiment: One Zacks item called First Solar a strong growth stock, which is supportive on fundamentals, but it appears to be a generic rating piece rather than a new company-specific catalyst. Article Title

About First Solar

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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