Handelsbanken Fonder AB Buys 46,207 Shares of First Solar, Inc. (NASDAQ:FSLR)

Handelsbanken Fonder AB grew its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 12.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 421,217 shares of the solar cell manufacturer's stock after buying an additional 46,207 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.39% of First Solar worth $53,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in FSLR. Norges Bank bought a new position in shares of First Solar in the 4th quarter valued at approximately $317,399,000. Demars Financial Group LLC raised its stake in shares of First Solar by 17,404.5% in the 4th quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer's stock valued at $127,379,000 after acquiring an additional 718,631 shares in the last quarter. Mirova US LLC raised its stake in shares of First Solar by 961.0% in the 4th quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer's stock valued at $113,906,000 after acquiring an additional 585,394 shares in the last quarter. Amundi raised its stake in shares of First Solar by 31.0% in the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock valued at $336,871,000 after acquiring an additional 426,797 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of First Solar by 218.6% in the 4th quarter. Royal Bank of Canada now owns 446,799 shares of the solar cell manufacturer's stock valued at $78,744,000 after acquiring an additional 306,581 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FSLR has been the topic of several recent analyst reports. Susquehanna dropped their price target on First Solar from $223.00 to $217.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group lifted their price target on First Solar from $204.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Barclays dropped their price target on First Solar from $236.00 to $204.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. KeyCorp downgraded First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price target on the stock. in a research report on Wednesday, April 30th. Finally, Citigroup dropped their price target on First Solar from $254.00 to $236.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.19.

First Solar Price Performance

First Solar stock traded up $3.24 on Wednesday, reaching $167.86. The company's stock had a trading volume of 3,615,298 shares, compared to its average volume of 3,061,964. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company has a market cap of $18.00 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 0.19 and a beta of 1.53. The business's fifty day moving average price is $145.92 and its 200 day moving average price is $159.22. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). The business had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. First Solar had a return on equity of 17.56% and a net margin of 32.41%. First Solar's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.20 EPS. Equities analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Michael Koralewski sold 2,951 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total transaction of $466,877.71. Following the transaction, the insider now owns 11,369 shares of the company's stock, valued at $1,798,689.49. This represents a 20.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Georges Antoun sold 229 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $30,628.75. Following the transaction, the insider now directly owns 52,836 shares in the company, valued at $7,066,815. This trade represents a 0.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,948 shares of company stock valued at $2,704,927. 0.48% of the stock is currently owned by corporate insiders.

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.