National Pension Service Grows Holdings in First Solar, Inc. $FSLR

Key Points

• National Pension Service increased its First Solar stake by 8.2% in the second quarter, bringing its holdings to 254,763 shares valued at approximately $60.1 million. Institutional investors collectively own 92.08% of the company.
• First Solar reported quarterly earnings of $3.92 per share, beating analysts’ $2.90 estimate, while revenue totaled $1.06 billion and declined 3.4% year over year.
• Insiders sold 15,881 shares worth about $3.6 million in the latest quarter. Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $266.06.

National Pension Service increased its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 8.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,763 shares of the solar cell manufacturer's stock after acquiring an additional 19,358 shares during the quarter. National Pension Service owned about 0.24% of First Solar worth $60,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Root Financial Partners LLC grew its stake in shares of First Solar by 18.2% in the 4th quarter. Root Financial Partners LLC now owns 292 shares of the solar cell manufacturer's stock worth $76,000 after buying an additional 45 shares during the last quarter. Fiduciary Financial Group LLC increased its holdings in shares of First Solar by 2.3% during the second quarter. Fiduciary Financial Group LLC now owns 2,026 shares of the solar cell manufacturer's stock valued at $478,000 after acquiring an additional 45 shares in the last quarter. FIL Ltd raised its position in shares of First Solar by 6.9% in the 4th quarter. FIL Ltd now owns 708 shares of the solar cell manufacturer's stock worth $185,000 after purchasing an additional 46 shares during the last quarter. Fielder Capital Group LLC boosted its stake in First Solar by 4.1% in the 4th quarter. Fielder Capital Group LLC now owns 1,196 shares of the solar cell manufacturer's stock worth $312,000 after purchasing an additional 47 shares in the last quarter. Finally, Burford Brothers Inc. grew its position in First Solar by 0.3% during the 4th quarter. Burford Brothers Inc. now owns 19,080 shares of the solar cell manufacturer's stock valued at $4,984,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 92.08% of the company's stock.

Insider Buying and Selling

In related news, CTO Markus Gloeckler sold 3,425 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $218.95, for a total value of $749,903.75. Following the completion of the sale, the chief technology officer directly owned 7,471 shares of the company's stock, valued at approximately $1,635,775.45. This represents a 31.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jason Dymbort sold 3,700 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $249.38, for a total transaction of $922,706.00. Following the completion of the transaction, the general counsel owned 5,624 shares of the company's stock, valued at approximately $1,402,513.12. The trade was a 39.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 15,881 shares of company stock valued at $3,617,086. Insiders own 0.39% of the company's stock.

First Solar Trading Up 0.9%

Shares of FSLR stock opened at $209.03 on Friday. The company has a 50 day simple moving average of $216.51 and a two-hundred day simple moving average of $221.74. The stock has a market cap of $22.46 billion, a P/E ratio of 12.89, a P/E/G ratio of 0.55 and a beta of 1.74. First Solar, Inc. has a 12 month low of $182.99 and a 12 month high of $320.95.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The solar cell manufacturer reported $3.92 EPS for the quarter, topping the consensus estimate of $2.90 by $1.02. First Solar had a return on equity of 18.02% and a net margin of 32.47%.The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business posted $3.18 EPS. First Solar's revenue was down 3.4% on a year-over-year basis. As a group, equities analysts forecast that First Solar, Inc. will post 17.78 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FSLR. Citigroup downgraded shares of First Solar from a "buy" rating to a "hold" rating in a research note on Thursday, August 27th. Mizuho set a $324.00 target price on First Solar in a report on Thursday, August 13th. Barclays upped their price target on First Solar from $213.00 to $279.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. Oppenheimer reiterated a "market perform" rating on shares of First Solar in a report on Friday, July 31st. Finally, Morgan Stanley raised their price target on shares of First Solar from $245.00 to $323.00 and gave the company an "overweight" rating in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $266.06.

First Solar Profile

First Solar, Inc is a renewable energy technology company that designs and manufactures photovoltaic (PV) solar modules. Unlike conventional crystalline-silicon panels, its modules use thin-film semiconductor technology based on cadmium telluride (CdTe). The company also provides supporting services, including project development, engineering, procurement and construction support, operations and maintenance, and module recycling.

First Solar primarily serves utility-scale solar developers, system owners and operators, commercial customers, and government entities.

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