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

Key Points

• Swedbank AB boosted its First Solar stake by 14.2% in the fourth quarter, ending with 169,838 shares worth about $44.37 million.
• Institutional ownership remains very high, with 92.08% of First Solar stock held by institutions and hedge funds, while several other large investors also increased their positions.
• First Solar reported better-than-expected quarterly results and has seen a mix of bullish analyst action, including a higher price target from Guggenheim and a consensus rating of Moderate Buy with a $247.40 target price.

Swedbank AB increased its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 14.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,838 shares of the solar cell manufacturer's stock after buying 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 reporting period.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew 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 buying an additional 464,130 shares during the period. Viking Global Investors LP grew 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 buying an additional 854,919 shares during the period. Amundi grew 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 buying an additional 564,032 shares during the period. Northern Trust Corp grew 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 buying an additional 34,313 shares during the period. Finally, Clean Energy Transition LLP grew 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 buying an additional 363,274 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at First Solar

In other news, General Counsel Jason E. Dymbort sold 9,022 shares of the business's stock in a transaction that occurred 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 owned 9,850 shares in the company, valued at $1,966,257. The trade was a 47.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alexander R. Bradley sold 14,106 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $199.97, for a total value of $2,820,776.82. Following the completion of the transaction, the chief financial officer owned 30,000 shares in the company, valued at $5,999,100. The trade was a 31.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 97,827 shares of company stock worth $20,006,930. 0.39% of the stock is owned by insiders.

More First Solar News

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: First Solar announced a partnership with GameChange Solar to support wider use of its domestically manufactured thin-film modules in India, a move that could improve demand visibility and reduce supply-chain or compliance concerns. Why First Solar (FSLR) Stock Is Trading Up Today
• Positive Sentiment: Guggenheim raised its price target on First Solar to $279 from $269 and reiterated a Buy rating, signaling continued analyst confidence in the stock’s upside potential. MarketScreener

Analyst Upgrades and Downgrades

Several analysts have recently commented on FSLR shares. Evercore raised their target price on First Solar from $212.00 to $219.00 in a research note on Monday, May 4th. Barclays cut their price target on First Solar from $228.00 to $213.00 and set an "overweight" rating for the company in a research note on Monday, April 20th. Needham & Company LLC lifted their price target on First Solar from $286.00 to $303.00 and gave the company a "buy" rating in a research note on Monday, February 23rd. Freedom Capital upgraded First Solar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 5th. Finally, BMO Capital Markets cut their price target on First Solar from $252.00 to $237.00 and set a "market perform" rating for the company in a research note on Monday, April 20th. One research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $247.40.

First Solar Price Performance

FSLR stock opened at $257.85 on Monday. The company has a market capitalization of $27.71 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 0.57 and a beta of 1.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. First Solar, Inc. has a 52-week low of $135.50 and a 52-week high of $285.99. The business has a 50-day simple moving average of $205.04 and a two-hundred day simple moving average of $230.96.

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

First Solar Company 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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