Fjarde AP Fonden Fourth Swedish National Pension Fund Cuts Stock Position in First Solar, Inc. $FSLR

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in First Solar, Inc. by 21% during the first quarter, selling 4,400 shares, leaving them with a total of 16,600 shares valued at approximately $2.1 million.
• First Solar's stock is currently experiencing fluctuations, trading down to $206.44, while analysts project an average target price of $222.44 with a “Moderate Buy” consensus rating.
• The company reported better-than-expected quarterly earnings, with $3.18 EPS exceeding analysts’ estimates, and is forecasting earnings of 13.500-16.500 EPS for FY 2025.

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 21.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,600 shares of the solar cell manufacturer's stock after selling 4,400 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in First Solar were worth $2,099,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Garde Capital Inc. bought a new stake in First Solar during the first quarter valued at $25,000. Larson Financial Group LLC lifted its stake in First Solar by 591.9% during the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock worth $32,000 after purchasing an additional 219 shares during the last quarter. Banque Transatlantique SA bought a new stake in First Solar during the fourth quarter worth about $53,000. Abound Financial LLC bought a new stake in First Solar during the first quarter worth about $45,000. Finally, Princeton Global Asset Management LLC bought a new stake in First Solar during the first quarter worth about $51,000. Institutional investors own 92.08% of the company's stock.

First Solar Stock Up 4.7%

Shares of FSLR stock traded up $8.9780 during midday trading on Friday, reaching $200.9780. 3,152,994 shares of the stock were exchanged, compared to its average volume of 3,865,852. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $262.72. The company's 50 day moving average is $174.62 and its two-hundred day moving average is $155.00. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. The firm has a market cap of $21.55 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 0.41 and a beta of 1.48.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.50. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the business earned $3.25 EPS. 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. On average, equities research analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on FSLR. JPMorgan Chase & Co. lifted their price target on First Solar from $200.00 to $208.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Mizuho lifted their price target on First Solar from $275.00 to $278.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Wells Fargo & Company dropped their price target on First Solar from $191.00 to $177.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Truist Financial reissued a "buy" rating and issued a $200.00 target price (down previously from $245.00) on shares of First Solar in a research note on Thursday, May 1st. Finally, Wolfe Research raised First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 target price for the company in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, First Solar currently has an average rating of "Moderate Buy" and an average target price of $225.84.

Insider Activity

In other First Solar news, CEO Mark R. Widmar sold 23,912 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the transaction, the chief executive officer owned 87,978 shares in the company, valued at approximately $16,317,279.66. This represents a 21.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Koralewski sold 2,951 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total value of $466,877.71. Following the transaction, the insider owned 11,369 shares in the company, valued at $1,798,689.49. This trade represents a 20.61% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,691 shares of company stock worth $8,248,477. Company insiders own 0.48% of the company's stock.

About First Solar

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.