First Solar, Inc. (NASDAQ:FSLR) Shares Acquired by AIA Group Ltd

Key Points

• AIA Group Ltd increased its stake in First Solar, Inc. by 123.8% during the first quarter, acquiring a total of 5,585 shares valued at $706,000.
• Most Wall Street analysts maintain a positive outlook on First Solar, with a consensus rating of "Moderate Buy" and an average target price of $224.27.
• First Solar recently reported an EPS of $3.18, surpassing estimates, with a revenue of $1.10 billion, reflecting an 8.6% increase from the same quarter last year.

AIA Group Ltd raised its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 123.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,585 shares of the solar cell manufacturer's stock after purchasing an additional 3,090 shares during the quarter. AIA Group Ltd's holdings in First Solar were worth $706,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FSLR. Garde Capital Inc. acquired a new position in First Solar during the 1st quarter worth about $25,000. Larson Financial Group LLC increased its holdings in shares of First Solar by 591.9% in the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock valued at $32,000 after acquiring an additional 219 shares during the last quarter. Banque Transatlantique SA purchased a new position in shares of First Solar in the 4th quarter valued at about $53,000. Abound Financial LLC purchased a new position in shares of First Solar in the 1st quarter valued at about $45,000. Finally, Princeton Global Asset Management LLC purchased a new position in shares of First Solar in the 1st quarter valued at about $51,000. Hedge funds and other institutional investors own 92.08% of the company's stock.

Analyst Ratings Changes

FSLR has been the topic of a number of recent analyst reports. Jefferies Financial Group set a $194.00 price objective on First Solar and gave the company a "buy" rating in a report on Tuesday, July 15th. Wells Fargo & Company dropped their price objective on First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Wall Street Zen upgraded First Solar from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Oppenheimer downgraded First Solar from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 30th. Finally, Susquehanna boosted their target price on First Solar from $203.00 to $222.00 and gave the company a "positive" rating in a report on Friday, August 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, First Solar has a consensus rating of "Moderate Buy" and a consensus target price of $222.44.

Insiders Place Their Bets

In related news, insider Patrick James Buehler sold 1,600 shares of First Solar stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total value of $288,000.00. Following the transaction, the insider owned 4,398 shares in the company, valued at approximately $791,640. This trade represents a 26.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark R. Widmar sold 3,796 shares of First Solar stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $187.19, for a total value of $710,573.24. Following the completion of the transaction, the chief executive officer owned 84,182 shares in the company, valued at $15,758,028.58. The trade was a 4.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,684 shares of company stock worth $7,660,704 in the last three months. Company insiders own 0.48% of the company's stock.

First Solar Price Performance

First Solar stock traded up $19.90 during mid-day trading on Friday, hitting $199.95. 10,927,711 shares of the company were exchanged, compared to its average volume of 2,393,773. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41. The business's 50 day simple moving average is $171.26 and its two-hundred day simple moving average is $153.89. The company has a market capitalization of $21.44 billion, a P/E ratio of 17.10, a PEG ratio of 0.35 and a beta of 1.48. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.50. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%. First Solar's revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.25 earnings per share. Analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

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.