First Solar, Inc. $FSLR Stake Raised by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 71.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 122,820 shares of the solar cell manufacturer’s stock after acquiring an additional 51,190 shares during the period. Mediolanum International Funds Ltd’s holdings in First Solar were worth $27,454,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. SFE Investment Counsel increased its position in shares of First Solar by 9.1% during the 2nd quarter. SFE Investment Counsel now owns 69,810 shares of the solar cell manufacturer’s stock valued at $11,556,000 after purchasing an additional 5,852 shares during the period. Joule Financial LLC bought a new position in First Solar during the third quarter valued at about $950,000. Atlantic Union Bankshares Corp bought a new position in First Solar during the second quarter valued at about $1,323,000. State Street Corp grew its holdings in First Solar by 2.1% during the second quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock worth $881,680,000 after acquiring an additional 111,927 shares during the period. Finally, Belpointe Asset Management LLC bought a new stake in First Solar in the third quarter worth about $1,193,000. 92.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FSLR shares. Weiss Ratings restated a “hold (c+)” rating on shares of First Solar in a research report on Monday, December 29th. KeyCorp restated an “overweight” rating on shares of First Solar in a report on Friday, October 31st. Seaport Research Partners upped their price target on First Solar from $217.00 to $305.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Wolfe Research increased their price objective on First Solar from $232.00 to $247.00 in a research report on Friday, October 31st. Finally, Glj Research lifted their target price on First Solar from $214.06 to $314.43 and gave the stock a “buy” rating in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $275.94.

First Solar Trading Up 0.7%

First Solar stock opened at $225.52 on Friday. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $285.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.91. The firm has a market capitalization of $24.20 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 0.29 and a beta of 1.60. The company has a 50 day moving average price of $255.74 and a 200 day moving average price of $229.87.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.56 billion. First Solar had a net margin of 27.73% and a return on equity of 16.61%. First Solar’s revenue for the quarter was up 79.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.91 EPS. Research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity at First Solar

In other news, Director Paul H. Stebbins sold 7,000 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $262.40, for a total value of $1,836,800.00. Following the transaction, the director owned 15,287 shares in the company, valued at $4,011,308.80. This represents a 31.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Georges Antoun sold 37,412 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $265.01, for a total transaction of $9,914,554.12. Following the completion of the sale, the insider directly owned 15,424 shares of the company’s stock, valued at $4,087,514.24. This trade represents a 70.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 48,912 shares of company stock valued at $12,971,349. Company insiders own 0.48% of the company’s stock.

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.