Munich Reinsurance Co Stock Corp in Munich Boosts Position in First Solar, Inc. $FSLR

Key Points

• Munich Re boosted its stake in First Solar by 330.8% in Q4 to 19,196 shares (an additional 14,740 shares), valued at about $5.07 million, and institutional investors now own 92.08% of the company.
• First Solar reported Q4 EPS of $4.84, missing estimates by $0.38, while revenue of $1.68 billion beat expectations and the company posted a net margin of 29.28%.
• Insiders sold 76,562 shares (~$15.04 million) over the last three months (insiders now own 0.39%), and analysts hold a consensus rating of “Moderate Buy” with an average price target of $244.49.

Munich Reinsurance Co Stock Corp in Munich boosted its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 330.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,196 shares of the solar cell manufacturer's stock after acquiring an additional 14,740 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich's holdings in First Solar were worth $5,074,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Rakuten Securities Inc. increased its position in First Solar by 33.5% during the fourth quarter. Rakuten Securities Inc. now owns 271 shares of the solar cell manufacturer's stock valued at $71,000 after acquiring an additional 68 shares during the last quarter. Riggs Asset Managment Co. Inc. increased its position in First Solar by 6.6% in the fourth quarter. Riggs Asset Managment Co. Inc. now owns 7,957 shares of the solar cell manufacturer's stock worth $2,079,000 after buying an additional 494 shares in the last quarter. Field & Main Bank increased its position in First Solar by 21.7% in the fourth quarter. Field & Main Bank now owns 785 shares of the solar cell manufacturer's stock worth $205,000 after buying an additional 140 shares in the last quarter. U S Global Investors Inc. purchased a new stake in First Solar in the fourth quarter worth about $392,000. Finally, HB Wealth Management LLC increased its position in First Solar by 17.9% in the fourth quarter. HB Wealth Management LLC now owns 3,899 shares of the solar cell manufacturer's stock worth $1,019,000 after buying an additional 591 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

First Solar Price Performance

Shares of First Solar stock opened at $193.76 on Friday. The stock has a 50 day moving average of $201.22 and a 200 day moving average of $232.69. First Solar, Inc. has a 12 month low of $119.09 and a 12 month high of $285.99. The firm has a market cap of $20.82 billion, a PE ratio of 13.64, a PEG ratio of 0.44 and a beta of 1.61. The company has a current ratio of 2.67, a quick ratio of 2.35 and a debt-to-equity ratio of 0.03.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 EPS for the quarter, missing analysts' consensus estimates of $5.22 by ($0.38). The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.59 billion. First Solar had a net margin of 29.28% and a return on equity of 17.32%. First Solar's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.65 earnings per share. On average, research analysts expect that First Solar, Inc. will post 17.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kuntal Kumar Verma sold 573 shares of the firm's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $210.00, for a total value of $120,330.00. Following the completion of the sale, the insider directly owned 8,863 shares of the company's stock, valued at $1,861,230. This trade represents a 6.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark R. Widmar sold 1,937 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $200.80, for a total value of $388,949.60. Following the completion of the sale, the chief executive officer directly owned 102,798 shares of the company's stock, valued at $20,641,838.40. The trade was a 1.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 76,562 shares of company stock worth $15,042,232. 0.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on FSLR. Zacks Research cut First Solar from a "hold" rating to a "strong sell" rating in a research report on Monday, March 16th. DZ Bank raised First Solar to a "strong sell" rating in a research note on Thursday, February 26th. Deutsche Bank Aktiengesellschaft lowered First Solar from a "buy" rating to a "hold" rating and dropped their price target for the company from $300.00 to $245.00 in a research note on Wednesday, February 25th. Jefferies Financial Group dropped their price target on First Solar from $205.00 to $187.00 and set a "hold" rating for the company in a research note on Tuesday, April 7th. Finally, UBS Group dropped their price target on First Solar from $330.00 to $300.00 and set a "buy" rating for the company in a research note on Wednesday, February 25th. Nineteen research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $244.49.

About First Solar

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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