Lansforsakringar Fondforvaltning AB publ Cuts Stake in First Solar, Inc. $FSLR

Key Points

• Lansforsakringar Fondforvaltning AB reduced its holdings in First Solar, Inc. (NASDAQ:FSLR) by 14.3%, owning approximately $7.27 million worth of the stock after selling 9,582 shares in the first quarter.
• Insider transactions showed significant sales, with CAO Nathan B. Theurer selling 686 shares and insider Patrick James Buehler selling 1,600 shares, resulting in a 26.68% decrease in Buehler’s ownership.
• First Solar’s recent earnings report exceeded estimates, with earnings per share of $3.18 compared to the consensus of $2.68, highlighting a revenue increase of 8.6% year-over-year.

Lansforsakringar Fondforvaltning AB publ lessened its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 14.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,470 shares of the solar cell manufacturer's stock after selling 9,582 shares during the period. Lansforsakringar Fondforvaltning AB publ owned about 0.05% of First Solar worth $7,266,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Boothbay Fund Management LLC grew its holdings in shares of First Solar by 87.0% during the 4th quarter. Boothbay Fund Management LLC now owns 1,522 shares of the solar cell manufacturer's stock worth $268,000 after acquiring an additional 708 shares during the period. The Manufacturers Life Insurance Company lifted its position in First Solar by 0.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 80,687 shares of the solar cell manufacturer's stock valued at $14,225,000 after acquiring an additional 416 shares in the last quarter. Lido Advisors LLC lifted its position in First Solar by 54.3% in the 4th quarter. Lido Advisors LLC now owns 7,794 shares of the solar cell manufacturer's stock valued at $1,374,000 after acquiring an additional 2,743 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in shares of First Solar by 39.0% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 16,065 shares of the solar cell manufacturer's stock valued at $2,831,000 after buying an additional 4,511 shares during the period. Finally, Freestone Grove Partners LP purchased a new stake in shares of First Solar in the 4th quarter worth $4,269,000. Hedge funds and other institutional investors own 92.08% of the company's stock.

First Solar Trading Up 0.3%

Shares of NASDAQ:FSLR traded up $0.59 during trading on Tuesday, reaching $195.78. 1,932,098 shares of the company were exchanged, compared to its average volume of 3,219,378. The firm has a market capitalization of $21.00 billion, a PE ratio of 16.75, a P/E/G ratio of 0.39 and a beta of 1.41. The business's fifty day simple moving average is $181.63 and its 200-day simple moving average is $156.80. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.50. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. First Solar's revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, research analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity at First Solar

In related news, insider Patrick James Buehler sold 1,600 shares of First Solar stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $180.00, for a total transaction of $288,000.00. Following the transaction, the insider directly owned 4,398 shares of the company's stock, valued at $791,640. This trade represents a 26.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Nathan B. Theurer sold 686 shares of First Solar stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The disclosure for this sale can be found here. Insiders have sold a total of 32,315 shares of company stock valued at $6,021,305 over the last ninety days. 0.48% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on FSLR. Wolfe Research upgraded First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price target for the company in a research note on Tuesday, May 13th. JPMorgan Chase & Co. increased their price target on shares of First Solar from $200.00 to $208.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Jefferies Financial Group set a $194.00 price target on shares of First Solar and gave the company a "buy" rating in a report on Tuesday, July 15th. Wall Street Zen raised shares of First Solar from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, BMO Capital Markets raised their price objective on shares of First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $225.84.

First Solar 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.