Deutsche Bank AG Purchases 65,486 Shares of First Solar, Inc. $FSLR

Key Points

• Deutsche Bank AG increased its stake in First Solar by 5.5% in the fourth quarter, adding 65,486 shares to bring its total holding to 1,261,472 shares worth about $329.5 million.
• Analyst sentiment remains mixed but positive overall, with First Solar carrying a “Moderate Buy” consensus rating and an average price target of $247.40, even as several firms trimmed targets or changed ratings.
• First Solar reported strong quarterly results, topping EPS and revenue estimates with $3.22 EPS on $1.04 billion in revenue, while insiders have also sold shares in recent months.

Deutsche Bank AG lifted its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,261,472 shares of the solar cell manufacturer's stock after purchasing an additional 65,486 shares during the period. Deutsche Bank AG owned 1.18% of First Solar worth $329,534,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Aventura Private Wealth LLC bought a new position in shares of First Solar during the fourth quarter worth approximately $25,000. Commonwealth Retirement Investments LLC bought a new position in shares of First Solar during the fourth quarter worth approximately $26,000. Larson Financial Group LLC increased its stake in shares of First Solar by 117.0% during the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer's stock worth $27,000 after purchasing an additional 55 shares during the period. Elyxium Wealth LLC bought a new position in shares of First Solar during the fourth quarter worth approximately $30,000. Finally, Strategic Wealth Investment Group LLC bought a new position in shares of First Solar during the second quarter worth approximately $26,000. Institutional investors own 92.08% of the company's stock.

Analyst Ratings Changes

FSLR has been the topic of a number of recent research reports. Royal Bank Of Canada lowered their target price on First Solar from $258.00 to $236.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 25th. Citigroup lowered their target price on First Solar from $300.00 to $243.00 and set a "buy" rating on the stock in a research note on Tuesday, April 21st. The Goldman Sachs Group increased their target price on First Solar from $300.00 to $310.00 in a research note on Friday, May 1st. DZ Bank upgraded First Solar to a "strong sell" rating in a research note on Thursday, February 26th. Finally, Wall Street Zen downgraded First Solar from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $247.40.

Insider Buying and Selling at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 582 shares of the firm's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $250.00, for a total value of $145,500.00. Following the sale, the insider owned 4,967 shares of the company's stock, valued at approximately $1,241,750. This trade represents a 10.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Caroline Stockdale sold 10,628 shares of the firm's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $275.60, for a total value of $2,929,076.80. Following the completion of the sale, the insider directly owned 23,792 shares in the company, valued at approximately $6,557,075.20. This represents a 30.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 60,694 shares of company stock valued at $13,659,583 over the last ninety days. 0.39% of the stock is owned by corporate insiders.

First Solar Trading Down 4.9%

Shares of NASDAQ:FSLR opened at $249.27 on Thursday. The company has a market capitalization of $26.78 billion, a P/E ratio of 16.10, a P/E/G ratio of 0.58 and a beta of 1.71. First Solar, Inc. has a 1 year low of $135.50 and a 1 year high of $320.95. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15. The business's 50 day simple moving average is $229.12 and its 200 day simple moving average is $233.27.

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

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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