Tredje AP fonden Has $68.62 Million Stock Position in First Solar, Inc. $FSLR

Key Points

• Tredje AP fonden cut its First Solar position by 43.5% in the fourth quarter, but still held 262,697 shares worth about $68.6 million. Institutional investors and hedge funds collectively own 92.08% of the company.
• First Solar reported better-than-expected earnings for the quarter, posting $3.22 EPS versus $2.87 expected and revenue of $1.04 billion, up 23.6% year over year.
• Analysts have become more cautious on the stock, with several firms lowering targets or downgrading ratings, though the consensus remains Moderate Buy with an average price target of $247.03.

Tredje AP fonden decreased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 43.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 262,697 shares of the solar cell manufacturer's stock after selling 202,130 shares during the quarter. Tredje AP fonden owned approximately 0.24% of First Solar worth $68,624,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FSLR. Aventura Private Wealth LLC acquired a new position in shares of First Solar during the 4th quarter worth $25,000. Strategic Wealth Investment Group LLC acquired a new position in shares of First Solar during the 2nd quarter worth $26,000. Larson Financial Group LLC increased its stake in shares of First Solar by 117.0% during the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer's stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Elyxium Wealth LLC acquired a new position in shares of First Solar during the 4th quarter worth $30,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of First Solar during the 3rd quarter worth $44,000. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Price Performance

NASDAQ FSLR opened at $233.64 on Tuesday. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $201.37 and a 200 day simple moving average of $231.25. The company has a market cap of $25.11 billion, a P/E ratio of 15.09, a P/E/G ratio of 0.51 and a beta of 1.57. First Solar, Inc. has a 1 year low of $135.50 and a 1 year high of $285.99.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm earned $1.95 EPS. First Solar's quarterly revenue was up 23.6% compared to the same quarter last year. On average, sell-side analysts predict that First Solar, Inc. will post 17.64 EPS for the current year.

Insider Transactions at First Solar

In other First Solar news, insider Georges Antoun sold 566 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $122,046.58. Following the completion of the sale, the insider directly owned 19,918 shares of the company's stock, valued at $4,294,918.34. This represents a 2.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Koralewski sold 215 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $46,360.45. Following the completion of the sale, the insider directly owned 14,642 shares of the company's stock, valued at approximately $3,157,254.46. This trade represents a 1.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 92,430 shares of company stock worth $18,670,055. 0.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

FSLR has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of First Solar from a "buy" rating to a "hold" rating and dropped their price target for the stock from $300.00 to $245.00 in a research note on Wednesday, February 25th. Wall Street Zen downgraded shares of First Solar from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Royal Bank Of Canada decreased their price objective on shares of First Solar from $258.00 to $236.00 and set an "outperform" rating for the company in a report on Wednesday, February 25th. Bank of America decreased their price objective on shares of First Solar from $291.00 to $271.00 and set a "buy" rating for the company in a report on Thursday, January 22nd. Finally, Glj Research downgraded shares of First Solar from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $314.43 to $207.82 in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, First Solar currently has an average rating of "Moderate Buy" and a consensus price target of $247.03.

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.

Want to see what other hedge funds are holding FSLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Solar, Inc. (NASDAQ:FSLR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.