Swedbank AB Acquires 1,530 Shares of First Solar, Inc. $FSLR

Key Points

• Swedbank AB has increased its stake in First Solar, Inc. by 1.0% during Q2, now owning approximately 0.15% of the company, valued at about $25.9 million.
• Insider transactions have been notable, with CEO Mark R. Widmar selling 2,321 shares for over $462,900, indicating a 2.76% decrease in his position.
• Equities analysts have increased their target prices for First Solar, with Royal Bank of Canada raising its target from $188 to $200 and UBS lifting its target from $255 to $275.

Swedbank AB grew its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 156,462 shares of the solar cell manufacturer's stock after purchasing an additional 1,530 shares during the quarter. Swedbank AB owned approximately 0.15% of First Solar worth $25,901,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FSLR. Lazard Asset Management LLC boosted its stake in shares of First Solar by 111.2% in the 4th quarter. Lazard Asset Management LLC now owns 526 shares of the solar cell manufacturer's stock valued at $92,000 after purchasing an additional 277 shares during the last quarter. Quantinno Capital Management LP boosted its stake in shares of First Solar by 290.2% in the 4th quarter. Quantinno Capital Management LP now owns 8,494 shares of the solar cell manufacturer's stock valued at $1,497,000 after purchasing an additional 6,317 shares during the last quarter. Vident Advisory LLC boosted its stake in shares of First Solar by 24.7% in the 4th quarter. Vident Advisory LLC now owns 3,324 shares of the solar cell manufacturer's stock valued at $586,000 after purchasing an additional 658 shares during the last quarter. Woodline Partners LP bought a new position in shares of First Solar in the 4th quarter valued at about $1,133,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of First Solar by 80.4% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 69,563 shares of the solar cell manufacturer's stock valued at $12,260,000 after purchasing an additional 30,995 shares during the last quarter. Institutional investors own 92.08% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FSLR shares. Wall Street Zen raised shares of First Solar from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. UBS Group reissued a "buy" rating and set a $275.00 price objective (up previously from $255.00) on shares of First Solar in a research note on Tuesday, August 5th. Bank of America lifted their price objective on shares of First Solar from $185.00 to $201.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Susquehanna lifted their price objective on shares of First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a research note on Friday, August 1st. Finally, Guggenheim lifted their price objective on shares of First Solar from $202.00 to $287.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have given a Hold rating and one has issued 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 $228.80.

Insider Buying and Selling at First Solar

In other First Solar news, CAO Nathan B. Theurer sold 686 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total value of $124,872.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mark R. Widmar sold 23,912 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the completion of the transaction, the chief executive officer owned 87,978 shares in the company, valued at approximately $16,317,279.66. This represents a 21.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,315 shares of company stock worth $6,021,305 over the last ninety days. Insiders own 0.48% of the company's stock.

First Solar Stock Up 1.4%

FSLR traded up $2.86 during trading on Friday, reaching $212.49. 3,858,347 shares of the stock were exchanged, compared to its average volume of 2,052,274. The stock has a market cap of $22.79 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 0.42 and a beta of 1.41. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $262.72. The stock's 50 day moving average price is $191.68 and its two-hundred day moving average price is $161.94. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.50. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Equities analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.