Raiffeisen Bank International AG Has $23.04 Million Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Key Points

• Raiffeisen Bank International AG increased its holdings in First Solar, Inc. by 6.5%, owning 180,950 shares valued at approximately $23 million as of the latest SEC filing.
• First Solar reported earnings exceeding expectations, with an EPS of $3.18 for the latest quarter, surpassing the consensus estimate of $2.68.
• Analysts have mixed reviews on First Solar’s stock, with an average rating of "Moderate Buy" and the target price set at $221.90.

Raiffeisen Bank International AG increased its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 6.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 180,950 shares of the solar cell manufacturer's stock after purchasing an additional 11,067 shares during the period. Raiffeisen Bank International AG owned approximately 0.17% of First Solar worth $23,042,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. KeyCorp lowered First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price target on the stock. in a research note on Wednesday, April 30th. BMO Capital Markets increased their price target on First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a research report on Friday. Susquehanna boosted their price objective on First Solar from $203.00 to $222.00 and gave the company a "positive" rating in a report on Friday. Mizuho raised their target price on First Solar from $275.00 to $278.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Finally, Truist Financial reissued a "buy" rating and issued a $200.00 price target (down from $245.00) on shares of First Solar in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $222.67.

First Solar Price Performance

NASDAQ:FSLR traded down $0.10 during trading hours on Tuesday, reaching $183.32. The company had a trading volume of 720,615 shares, compared to its average volume of 3,848,239. The stock has a 50-day moving average of $166.31 and a two-hundred day moving average of $152.83. First Solar, Inc. has a one year low of $116.56 and a one year high of $262.72. The firm has a market capitalization of $19.66 billion, a PE ratio of 15.67, a PEG ratio of 0.35 and a beta of 1.48. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping the consensus estimate of $2.68 by $0.50. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%. The business's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.25 earnings per share. Analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Transactions at First Solar

In related news, CTO Markus Gloeckler sold 9,557 shares of First Solar stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total value of $1,481,812.85. Following the completion of the sale, the chief technology officer directly owned 8,037 shares in the company, valued at $1,246,136.85. This trade represents a 54.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Koralewski sold 2,951 shares of the firm's stock in a transaction dated 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 approximately $1,798,689.49. This trade represents a 20.61% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,976 shares of company stock worth $2,515,172. 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.