BI Asset Management Fondsmaeglerselskab A S Raises Stock Position in First Solar, Inc. $FSLR

Key Points

• BI Asset Management Fondsmaeglerselskab A S raised its stake in First Solar, Inc. by 11%, now owning approximately 64,447 shares valued at $8.15 million.
• Other institutional investors, including Vanguard Group and Wellington Management, also increased their positions significantly, reflecting growing confidence in the company's performance.
• First Solar exceeded earnings estimates with an EPS of $3.18, and has a positive revenue trend, reporting an 8.6% year-over-year growth for the latest quarter.

BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 11.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 64,447 shares of the solar cell manufacturer's stock after acquiring an additional 6,394 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.06% of First Solar worth $8,148,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of First Solar by 3.0% during the first quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer's stock worth $1,668,919,000 after acquiring an additional 378,641 shares during the period. Wellington Management Group LLP increased its position in shares of First Solar by 17.2% during the first quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer's stock worth $349,617,000 after acquiring an additional 405,457 shares during the period. Invesco Ltd. increased its position in shares of First Solar by 32.3% during the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer's stock worth $306,909,000 after acquiring an additional 592,444 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of First Solar by 8.6% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,748,603 shares of the solar cell manufacturer's stock worth $308,174,000 after acquiring an additional 137,901 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of First Solar by 9.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,450,914 shares of the solar cell manufacturer's stock worth $255,709,000 after acquiring an additional 120,239 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Price Performance

NASDAQ FSLR opened at $210.96 on Wednesday. The firm's fifty day simple moving average is $173.37 and its two-hundred day simple moving average is $154.47. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72. The firm has a market capitalization of $22.63 billion, a P/E ratio of 18.05, a P/E/G ratio of 0.43 and a beta of 1.48.

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 (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.50. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company earned $3.25 earnings per share. The business's revenue for the quarter was up 8.6% on a year-over-year basis. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other First Solar news, insider Michael Koralewski sold 2,951 shares of First Solar stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $158.21, for a total value of $466,877.71. Following the transaction, the insider directly owned 11,369 shares of the company's stock, valued at approximately $1,798,689.49. The trade was a 20.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Nathan B. Theurer sold 686 shares of First Solar stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total transaction of $124,872.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,691 shares of company stock valued at $8,248,477. 0.48% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Hsbc Global Res raised shares of First Solar to a "strong-buy" rating in a research report on Friday, August 1st. Mizuho lifted their price objective on shares of First Solar from $275.00 to $278.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Wells Fargo & Company reduced their price objective on shares of First Solar from $191.00 to $177.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. KeyCorp lowered First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 target price for the company. in a report on Wednesday, April 30th. Finally, BMO Capital Markets upped their target price on First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $222.44.

First Solar 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.