BI Asset Management Fondsmaeglerselskab A S Raises Stock Position in First Solar, Inc. (NASDAQ:FSLR)

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 11.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,981 shares of the solar cell manufacturer's stock after purchasing an additional 4,350 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in First Solar were worth $7,060,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FSLR. Yousif Capital Management LLC raised its position in First Solar by 3.5% in the 3rd quarter. Yousif Capital Management LLC now owns 14,890 shares of the solar cell manufacturer's stock valued at $2,406,000 after purchasing an additional 497 shares in the last quarter. Fifth Third Bancorp raised its holdings in First Solar by 101.1% in the third quarter. Fifth Third Bancorp now owns 2,641 shares of the solar cell manufacturer's stock valued at $427,000 after acquiring an additional 1,328 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in First Solar by 2.5% in the third quarter. Teacher Retirement System of Texas now owns 7,862 shares of the solar cell manufacturer's stock worth $1,270,000 after acquiring an additional 189 shares during the last quarter. New Mexico Educational Retirement Board grew its holdings in First Solar by 8.3% during the 3rd quarter. New Mexico Educational Retirement Board now owns 5,200 shares of the solar cell manufacturer's stock worth $840,000 after acquiring an additional 400 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of First Solar by 14.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 15,434 shares of the solar cell manufacturer's stock valued at $2,494,000 after purchasing an additional 1,953 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Price Performance

Shares of First Solar stock traded up $2.97 during trading on Friday, reaching $197.59. The company's stock had a trading volume of 1,719,187 shares, compared to its average volume of 2,017,737. The business has a 50 day moving average price of $174.13 and a 200-day moving average price of $161.46. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $224.50. The company has a market capitalization of $21.15 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 0.34 and a beta of 1.37. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, topping the consensus estimate of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The company had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. During the same period in the previous year, the firm earned $0.40 EPS. The business's revenue was up 44.8% on a year-over-year basis. As a group, sell-side analysts anticipate that First Solar, Inc. will post 13.56 EPS for the current year.

Insider Buying and Selling at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of the business's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $148.34, for a total transaction of $37,085.00. Following the sale, the insider now directly owns 5,170 shares in the company, valued at $766,917.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Richard D. Chapman sold 3,165 shares of the firm's stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $190.48, for a total transaction of $602,869.20. Following the completion of the transaction, the director now directly owns 1,045 shares of the company's stock, valued at approximately $199,051.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kuntal Kumar Verma sold 250 shares of the company's stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the completion of the sale, the insider now directly owns 5,170 shares in the company, valued at approximately $766,917.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,785 shares of company stock valued at $5,265,869. Corporate insiders own 0.58% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on FSLR. Morgan Stanley increased their price target on shares of First Solar from $245.00 to $248.00 and gave the company an "overweight" rating in a research note on Thursday, May 2nd. Susquehanna reissued a "positive" rating and issued a $258.00 price target on shares of First Solar in a research report on Friday, April 5th. Bank of America raised their price objective on First Solar from $187.00 to $194.00 and gave the stock a "buy" rating in a report on Wednesday, April 10th. DZ Bank began coverage on First Solar in a report on Wednesday, April 17th. They issued a "buy" rating and a $205.00 target price for the company. Finally, UBS Group raised their price target on First Solar from $250.00 to $252.00 and gave the stock a "buy" rating in a research note on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $238.20.

First Solar Company Profile

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.

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