Munich Reinsurance Co Stock Corp in Munich Raises Stock Holdings in First Solar, Inc. $FSLR

Munich Reinsurance Co Stock Corp in Munich lifted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 330.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 19,196 shares of the solar cell manufacturer’s stock after purchasing an additional 14,740 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in First Solar were worth $5,074,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of FSLR. Viking Global Investors LP raised its holdings in shares of First Solar by 60.6% in the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after buying an additional 854,919 shares during the period. Lightrock Netherlands B.V. increased its holdings in First Solar by 2,663.8% during the 4th quarter. Lightrock Netherlands B.V. now owns 666,307 shares of the solar cell manufacturer’s stock worth $174,059,000 after purchasing an additional 642,199 shares during the period. Amundi increased its holdings in First Solar by 38.6% during the 3rd quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer’s stock worth $459,917,000 after purchasing an additional 564,032 shares during the period. Vanguard Group Inc. increased its holdings in First Solar by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer’s stock worth $3,026,108,000 after purchasing an additional 464,130 shares during the period. Finally, Atreides Management LP purchased a new position in First Solar during the 2nd quarter worth $65,134,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on FSLR shares. TD Cowen reduced their price objective on First Solar from $320.00 to $253.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Zacks Research cut First Solar from a “hold” rating to a “strong sell” rating in a research report on Monday, March 16th. Needham & Company LLC increased their target price on First Solar from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft cut First Solar from a “buy” rating to a “hold” rating and dropped their target price for the company from $300.00 to $245.00 in a research report on Wednesday, February 25th. Finally, BMO Capital Markets dropped their target price on First Solar from $252.00 to $237.00 and set a “market perform” rating on the stock in a research report on Monday, April 20th. Nineteen analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average target price of $244.49.

Insider Transactions at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 573 shares of First Solar stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $210.00, for a total transaction of $120,330.00. Following the completion of the sale, the insider owned 8,863 shares of the company’s stock, valued at approximately $1,861,230. The trade was a 6.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jason E. Dymbort sold 9,022 shares of First Solar stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $199.62, for a total value of $1,800,971.64. Following the sale, the general counsel directly owned 9,850 shares of the company’s stock, valued at approximately $1,966,257. This represents a 47.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 76,562 shares of company stock worth $15,042,232. 0.39% of the stock is currently owned by corporate insiders.

First Solar Stock Down 1.2%

First Solar stock opened at $193.76 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.67 and a quick ratio of 2.35. The stock has a market capitalization of $20.82 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 0.44 and a beta of 1.61. First Solar, Inc. has a 1-year low of $119.09 and a 1-year high of $285.99. The business has a fifty day moving average price of $201.22 and a 200-day moving average price of $232.69.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.38). The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.59 billion. First Solar had a return on equity of 17.32% and a net margin of 29.28%.The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.65 EPS. Equities research analysts forecast that First Solar, Inc. will post 17.37 EPS for the current fiscal year.

First Solar 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.