Northwestern Mutual Wealth Management Co. Increases Holdings in First Solar, Inc. $FSLR

Key Points

• Northwestern Mutual Wealth Management significantly increased its First Solar stake in Q4, lifting holdings by 1,054.3% to 52,219 shares valued at about $13.6 million.
• Institutional ownership remains very high, with hedge funds and other institutions holding 92.08% of First Solar’s stock, and several large investors also added shares recently.
• First Solar posted a strong quarter, reporting $3.22 EPS and $1.04 billion in revenue, both above estimates, though analysts have trimmed price targets and the consensus rating is still Moderate Buy.

Northwestern Mutual Wealth Management Co. lifted its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 1,054.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 52,219 shares of the solar cell manufacturer's stock after purchasing an additional 47,695 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in First Solar were worth $13,641,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of First Solar by 3.5% in the third quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer's stock valued at $3,026,108,000 after purchasing an additional 464,130 shares during the period. Viking Global Investors LP boosted its holdings in shares of First Solar by 60.6% in the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer's stock valued at $375,122,000 after purchasing an additional 854,919 shares during the period. Amundi boosted its holdings in shares of First Solar by 38.6% in the third quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer's stock valued at $459,917,000 after purchasing an additional 564,032 shares during the period. Northern Trust Corp boosted its holdings in shares of First Solar by 2.6% in the third quarter. Northern Trust Corp now owns 1,349,531 shares of the solar cell manufacturer's stock valued at $297,612,000 after purchasing an additional 34,313 shares during the period. Finally, Clean Energy Transition LLP boosted its holdings in shares of First Solar by 48.2% in the third quarter. Clean Energy Transition LLP now owns 1,117,228 shares of the solar cell manufacturer's stock valued at $246,382,000 after purchasing an additional 363,274 shares during the period. Hedge funds and other institutional investors own 92.08% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on FSLR. Zacks Research upgraded First Solar from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. DZ Bank upgraded First Solar to a "strong sell" rating in a report on Thursday, February 26th. Bank of America reduced their price objective on shares of First Solar from $291.00 to $271.00 and set a "buy" rating for the company in a research note on Thursday, January 22nd. JPMorgan Chase & Co. reduced their price objective on shares of First Solar from $303.00 to $256.00 and set an "overweight" rating for the company in a research note on Wednesday, February 25th. Finally, Susquehanna reduced their price objective on shares of First Solar from $280.00 to $250.00 and set a "positive" rating for the company in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $247.03.

First Solar Stock Performance

Shares of NASDAQ:FSLR opened at $237.86 on Thursday. The company has a market capitalization of $25.56 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 0.49 and a beta of 1.57. First Solar, Inc. has a 52 week low of $135.50 and a 52 week high of $285.99. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average of $202.87 and a 200 day moving average of $231.14.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping analysts' consensus estimates of $2.87 by $0.35. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. First Solar's revenue for the quarter was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.95 earnings per share. On average, sell-side analysts predict that First Solar, Inc. will post 17.64 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, CTO Markus Gloeckler sold 3,640 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $196.95, for a total transaction of $716,898.00. Following the transaction, the chief technology officer directly owned 8,037 shares of the company's stock, valued at approximately $1,582,887.15. This represents a 31.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Jason E. Dymbort sold 9,022 shares of the company's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $199.62, for a total value of $1,800,971.64. Following the transaction, the general counsel directly owned 9,850 shares in the company, valued at approximately $1,966,257. The trade was a 47.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 92,430 shares of company stock valued at $18,670,055. Corporate insiders own 0.39% of the company's stock.

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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