KLP Kapitalforvaltning AS Raises Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

KLP Kapitalforvaltning AS boosted its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 11.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,400 shares of the solar cell manufacturer's stock after buying an additional 9,300 shares during the quarter. KLP Kapitalforvaltning AS owned approximately 0.09% of First Solar worth $11,556,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FSLR. Garde Capital Inc. purchased a new position in First Solar during the first quarter worth approximately $25,000. Larson Financial Group LLC raised its holdings in shares of First Solar by 591.9% during the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock worth $32,000 after acquiring an additional 219 shares during the period. Abound Financial LLC purchased a new position in shares of First Solar during the 1st quarter worth $45,000. Princeton Global Asset Management LLC purchased a new position in shares of First Solar during the 1st quarter worth $51,000. Finally, Banque Transatlantique SA purchased a new position in First Solar during the fourth quarter worth about $53,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at First Solar

In other First Solar news, insider Michael Koralewski sold 2,951 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $158.21, for a total transaction of $466,877.71. Following the sale, the insider directly owned 11,369 shares in the company, valued at approximately $1,798,689.49. The trade was a 20.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick James Buehler sold 1,600 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total transaction of $288,000.00. Following the sale, the insider directly owned 4,398 shares in the company, valued at approximately $791,640. This represents a 26.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,976 shares of company stock worth $2,515,172 over the last three months. 0.48% of the stock is currently owned by corporate insiders.

First Solar Stock Performance

NASDAQ:FSLR traded up $4.60 during midday trading on Friday, reaching $185.32. The stock had a trading volume of 2,047,103 shares, compared to its average volume of 3,608,725. The firm has a fifty day simple moving average of $163.95 and a two-hundred day simple moving average of $153.65. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72. The company has a quick ratio of 1.39, a current ratio of 1.93 and a debt-to-equity ratio of 0.04. The stock has a market cap of $19.87 billion, a P/E ratio of 15.76, a P/E/G ratio of 0.35 and a beta of 1.52.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.55). The firm had revenue of $844.57 million during the quarter, compared to analysts' expectations of $863.11 million. First Solar had a net margin of 29.72% and a return on equity of 16.32%. The firm's revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.20 EPS. On average, equities analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Analysts Set New Price Targets

FSLR has been the topic of several analyst reports. Bank of America lifted their price target on shares of First Solar from $185.00 to $201.00 and gave the company a "buy" rating in a research report on Tuesday. Wolfe Research upgraded shares of First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price objective on the stock in a report on Tuesday, May 13th. The Goldman Sachs Group boosted their price objective on First Solar from $204.00 to $255.00 and gave the company a "buy" rating in a report on Monday, May 19th. KeyCorp lowered First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price objective on the stock. in a research report on Wednesday, April 30th. Finally, Jefferies Financial Group set a $194.00 price target on First Solar and gave the stock a "buy" rating in a report on Tuesday, July 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $225.73.

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.