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

Key Points

• Fjarde AP Fonden increased its First Solar stake by 80.1% in the first quarter, buying an additional 25,700 shares and bringing its total to 57,800 shares worth about $11.4 million.
• First Solar has seen continued institutional interest, with hedge funds and other investors making new positions or adding to existing holdings; institutional ownership now stands at 92.08% of the stock.
• Analysts remain mostly constructive on the company, with several firms raising price targets and First Solar reporting better-than-expected Q1 earnings of $3.22 per share on revenue of $1.04 billion. However, insider selling and newly filed shareholder lawsuit activity may create some near-term overhang.

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 80.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,800 shares of the solar cell manufacturer's stock after purchasing an additional 25,700 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund owned about 0.05% of First Solar worth $11,402,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Aventura Private Wealth LLC acquired a new position in shares of First Solar in the fourth quarter valued at approximately $25,000. Commonwealth Retirement Investments LLC purchased a new stake in First Solar during the 4th quarter worth approximately $26,000. Reflection Asset Management acquired a new stake in First Solar during the 4th quarter worth approximately $26,000. Strategic Wealth Investment Group LLC acquired a new stake in First Solar during the 2nd quarter worth approximately $26,000. Finally, Larson Financial Group LLC lifted its holdings in First Solar by 117.0% during the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer's stock worth $27,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

Insider Buying and Selling at First Solar

In related news, insider Kuntal Kumar Verma sold 582 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $250.00, for a total transaction of $145,500.00. Following the completion of the sale, the insider owned 4,967 shares in the company, valued at $1,241,750. The trade was a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jason E. Dymbort sold 409 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $88,192.67. Following the completion of the transaction, the general counsel directly owned 10,409 shares of the company's stock, valued at $2,244,492.67. This trade represents a 3.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 32,466 shares of company stock worth $8,014,105. 0.39% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on FSLR. Mizuho boosted their price target on shares of First Solar from $243.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, June 12th. Guggenheim increased their price objective on First Solar from $269.00 to $279.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. Jefferies Financial Group decreased their target price on First Solar from $205.00 to $187.00 and set a "hold" rating for the company in a report on Tuesday, April 7th. Barclays cut their price target on First Solar from $228.00 to $213.00 and set an "overweight" rating on the stock in a report on Monday, April 20th. Finally, Zacks Research upgraded First Solar from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $249.78.

First Solar Stock Performance

Shares of FSLR stock opened at $224.57 on Friday. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a fifty day moving average price of $247.56 and a 200 day moving average price of $232.06. The company has a market cap of $24.13 billion, a P/E ratio of 14.51, a PEG ratio of 0.50 and a beta of 1.73. First Solar, Inc. has a 12 month low of $159.85 and a 12 month high of $320.95.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, beating analysts' consensus estimates of $2.87 by $0.35. The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.First Solar's quarterly revenue was up 23.6% on a year-over-year basis. During the same period last year, the firm earned $1.95 earnings per share. Sell-side analysts predict that First Solar, Inc. will post 17.61 earnings per share for the current fiscal year.

First Solar News Summary

Here are the key news stories impacting First Solar this week:

• Negative Sentiment: Multiple law firms, including Rosen, Schall, Kaplan Fox, Pomerantz, and others, urged First Solar shareholders to act on a securities fraud/class action lawsuit ahead of the August 24 deadline. Article Title
• Negative Sentiment: A class action has already been filed alleging First Solar and certain officers violated Sections 10(b) and 20(a) and Rule 10b-5, increasing legal overhang on the stock. Article Title
• Neutral Sentiment: One market update noted First Solar stock recently fell in trading, with the decline adding to near-term weakness already reflected in the shares. Article Title

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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