Swedbank AB Has $44.37 Million Position in First Solar, Inc. $FSLR

Key Points

• Swedbank AB increased its stake in First Solar by 14.2% in the quarter to 169,838 shares, valued at about $44.37 million.
• First Solar beat estimates in its most recent quarter with EPS of $3.22 (vs. $2.87 est.) and revenue of $1.04 billion, up 23.6% year‑over‑year, with a net margin of 30.7% and ROE of 18.0%.
• Insiders have sold 81,204 shares (~$16.04M) in the past 90 days (including CEO and CTO sales) even as institutional investors own 92.08% of the stock; analysts’ consensus is a “Moderate Buy” with an average target of $246.10.

Swedbank AB lifted its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 14.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 169,838 shares of the solar cell manufacturer's stock after purchasing an additional 21,143 shares during the period. Swedbank AB owned 0.16% of First Solar worth $44,367,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FSLR. Vanguard Group Inc. boosted its stake in shares of First Solar by 3.5% in the 3rd 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 last quarter. Viking Global Investors LP boosted its stake in shares of First Solar by 60.6% in the 2nd 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 last quarter. Amundi boosted its stake in shares of First Solar by 38.6% in the 3rd 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 last quarter. Northern Trust Corp boosted its stake in shares of First Solar by 2.6% in the 3rd 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 last quarter. Finally, Clean Energy Transition LLP boosted its stake in shares of First Solar by 48.2% in the 3rd 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 last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Stock Down 1.6%

First Solar stock opened at $214.57 on Friday. The company's 50 day simple moving average is $196.96 and its 200 day simple moving average is $231.41. First Solar, Inc. has a fifty-two week low of $127.32 and a fifty-two week high of $285.99. The firm has a market capitalization of $23.06 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 0.48 and a beta of 1.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the firm earned $1.95 EPS. First Solar's quarterly revenue was up 23.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that First Solar, Inc. will post 17.58 EPS for the current year.

Insider Buying and Selling at First Solar

In other First Solar news, CTO Markus Gloeckler sold 3,640 shares of First Solar stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $196.95, for a total value of $716,898.00. Following the transaction, the chief technology officer owned 8,037 shares of the company's stock, valued at approximately $1,582,887.15. The trade was a 31.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark R. Widmar sold 7,738 shares of First Solar stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $195.93, for a total transaction of $1,516,106.34. Following the completion of the transaction, the chief executive officer directly owned 91,787 shares in the company, valued at approximately $17,983,826.91. The trade was a 7.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 81,204 shares of company stock worth $16,043,186 over the last ninety days. 0.39% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of First Solar from $303.00 to $256.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 25th. Bank of America reduced their target price on shares of First Solar from $291.00 to $271.00 and set a "buy" rating on the stock in a research note on Thursday, January 22nd. The Goldman Sachs Group raised their target price on shares of First Solar from $300.00 to $310.00 in a research note on Friday, May 1st. Susquehanna reduced their target price on shares of First Solar from $280.00 to $250.00 and set a "positive" rating on the stock in a research note on Thursday, April 9th. Finally, Wolfe Research lowered shares of First Solar from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $246.10.

First Solar Profile

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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