First Solar, Inc. (NASDAQ:FSLR) Shares Acquired by Lannebo Fonder AB

Lannebo Fonder AB raised its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 51.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,500 shares of the solar cell manufacturer's stock after acquiring an additional 20,500 shares during the quarter. First Solar makes up about 1.6% of Lannebo Fonder AB's holdings, making the stock its 23rd largest holding. Lannebo Fonder AB owned 0.06% of First Solar worth $11,156,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Advisory Services Network LLC raised its holdings in shares of First Solar by 5.2% during the first quarter. Advisory Services Network LLC now owns 996 shares of the solar cell manufacturer's stock valued at $217,000 after acquiring an additional 49 shares during the last quarter. Apollon Wealth Management LLC increased its holdings in shares of First Solar by 2.0% in the first quarter. Apollon Wealth Management LLC now owns 3,104 shares of the solar cell manufacturer's stock valued at $675,000 after purchasing an additional 60 shares during the last quarter. SVB Wealth LLC increased its holdings in shares of First Solar by 2.1% in the first quarter. SVB Wealth LLC now owns 3,439 shares of the solar cell manufacturer's stock valued at $748,000 after purchasing an additional 71 shares during the last quarter. Ballentine Partners LLC increased its holdings in shares of First Solar by 3.0% in the first quarter. Ballentine Partners LLC now owns 2,449 shares of the solar cell manufacturer's stock valued at $533,000 after purchasing an additional 72 shares during the last quarter. Finally, Spire Wealth Management increased its holdings in shares of First Solar by 67.9% in the first quarter. Spire Wealth Management now owns 178 shares of the solar cell manufacturer's stock valued at $39,000 after purchasing an additional 72 shares during the last quarter. Institutional investors and hedge funds own 82.08% of the company's stock.

First Solar Stock Up 2.9 %

Shares of NASDAQ FSLR traded up $4.91 during mid-day trading on Tuesday, hitting $172.65. The company had a trading volume of 727,291 shares, compared to its average volume of 2,326,253. The company has a market capitalization of $18.44 billion, a PE ratio of 116.14 and a beta of 1.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.36 and a quick ratio of 2.66. First Solar, Inc. has a 1-year low of $115.66 and a 1-year high of $232.00. The business's 50-day simple moving average is $190.50 and its 200 day simple moving average is $196.70.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The solar cell manufacturer reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.90. The business had revenue of $810.67 million for the quarter, compared to analysts' expectations of $720.43 million. First Solar had a return on equity of 3.13% and a net margin of 5.23%. On average, analysts predict that First Solar, Inc. will post 7.89 earnings per share for the current year.

Insider Activity

In other First Solar news, CTO Markus Gloeckler sold 464 shares of the firm's stock in a transaction on Monday, August 21st. The stock was sold at an average price of $182.00, for a total value of $84,448.00. Following the sale, the chief technology officer now directly owns 7,649 shares in the company, valued at $1,392,118. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other First Solar news, CTO Markus Gloeckler sold 464 shares of the firm's stock in a transaction on Monday, August 21st. The stock was sold at an average price of $182.00, for a total value of $84,448.00. Following the sale, the chief technology officer now directly owns 7,649 shares in the company, valued at $1,392,118. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Alexander R. Bradley sold 5,500 shares of the firm's stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $194.36, for a total value of $1,068,980.00. Following the completion of the sale, the chief financial officer now owns 40,919 shares in the company, valued at $7,953,016.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,452 shares of company stock worth $6,833,334. Corporate insiders own 0.58% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Roth Capital reaffirmed a "buy" rating and issued a $230.00 price target on shares of First Solar in a report on Friday, September 8th. TD Cowen increased their price target on First Solar from $250.00 to $293.00 and gave the company an "outperform" rating in a report on Friday, July 28th. Roth Mkm reaffirmed a "buy" rating and issued a $230.00 price target on shares of First Solar in a report on Wednesday, September 6th. Evercore ISI lowered their price objective on First Solar from $189.00 to $185.00 in a research report on Thursday, June 29th. Finally, TheStreet upgraded First Solar from a "c" rating to a "b-" rating in a research report on Thursday, July 27th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $232.62.

About First Solar

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.

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