AMF Tjanstepension AB Trims Stock Position in First Solar, Inc. $FSLR

Key Points

• AMF Tjanstepension AB trimmed its First Solar stake by 3.2% in the fourth quarter, selling 10,672 shares and ending with 323,367 shares valued at about $84.5 million.
• First Solar reported strong quarterly results, with EPS of $3.22 beating estimates by $0.35 and revenue of $1.04 billion slightly above expectations, while revenue rose 23.6% year over year.
• Analysts remain generally upbeat on the stock, with a Moderate Buy consensus and an average price target of $247.03, though some firms have recently lowered targets or ratings.

AMF Tjanstepension AB lowered its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 323,367 shares of the solar cell manufacturer's stock after selling 10,672 shares during the period. AMF Tjanstepension AB owned 0.30% of First Solar worth $84,473,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Linden Thomas Advisory Services LLC grew its stake in First Solar by 1.7% during the third quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer's stock valued at $504,000 after acquiring an additional 39 shares in the last quarter. Apollon Wealth Management LLC grew its stake in First Solar by 1.2% in the 4th quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer's stock worth $942,000 after buying an additional 44 shares in the last quarter. Burford Brothers Inc. grew its stake in First Solar by 0.3% in the 4th quarter. Burford Brothers Inc. now owns 19,080 shares of the solar cell manufacturer's stock worth $4,984,000 after buying an additional 48 shares in the last quarter. Cromwell Holdings LLC grew its stake in First Solar by 15.8% in the 4th quarter. Cromwell Holdings LLC now owns 367 shares of the solar cell manufacturer's stock worth $96,000 after buying an additional 50 shares in the last quarter. Finally, Rathbones Group PLC grew its stake in First Solar by 1.0% in the 3rd quarter. Rathbones Group PLC now owns 4,930 shares of the solar cell manufacturer's stock worth $1,087,000 after buying an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

Insider Transactions at First Solar

In related news, insider Michael Koralewski sold 215 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $46,360.45. Following the completion of the sale, the insider directly owned 14,642 shares in the company, valued at $3,157,254.46. This represents a 1.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Georges Antoun sold 566 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $122,046.58. Following the sale, the insider owned 19,918 shares of the company's stock, valued at $4,294,918.34. This represents a 2.76% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 92,430 shares of company stock worth $18,670,055. Corporate insiders own 0.39% of the company's stock.

First Solar Trading Up 0.1%

Shares of FSLR opened at $233.64 on Tuesday. The firm has a market cap of $25.11 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 0.51 and a beta of 1.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. First Solar, Inc. has a fifty-two week low of $135.50 and a fifty-two week high of $285.99. The firm has a 50 day moving average price of $201.37 and a 200-day moving average price of $231.25.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, topping analysts' consensus estimates of $2.87 by $0.35. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The business's quarterly revenue was up 23.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.95 EPS. As a group, equities research analysts forecast that First Solar, Inc. will post 17.64 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Argus boosted their price target on shares of First Solar from $250.00 to $275.00 and gave the stock a "buy" rating in a research note on Wednesday, May 13th. DZ Bank raised shares of First Solar to a "strong sell" rating in a research note on Thursday, February 26th. Mizuho cut their price target on shares of First Solar from $271.00 to $243.00 and set an "outperform" rating for the company in a research note on Monday, April 27th. Citigroup cut their price target on shares of First Solar from $300.00 to $243.00 and set a "buy" rating for the company in a research note on Tuesday, April 21st. Finally, Wall Street Zen cut shares of First Solar from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, First Solar has a consensus rating of "Moderate Buy" and a consensus price target of $247.03.

First Solar 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.

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