First Solar, Inc. $FSLR Shares Acquired by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in First Solar, Inc. (NASDAQ:FSLR) by 80.1% in the 1st quarter, Holdings Channel reports. The firm owned 57,800 shares of the solar cell manufacturer’s stock after buying an additional 25,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in First Solar were worth $11,402,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Pictet Asset Management Holding SA increased its holdings in shares of First Solar by 29.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,138,473 shares of the solar cell manufacturer’s stock valued at $224,540,000 after acquiring an additional 258,204 shares during the period. Atlatl Advisers LLC acquired a new stake in First Solar during the 4th quarter worth $1,697,000. Northwestern Mutual Wealth Management Co. boosted its stake in First Solar by 1,054.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 52,219 shares of the solar cell manufacturer’s stock worth $13,641,000 after purchasing an additional 47,695 shares during the period. Lee Johnson Capital Management LLC purchased a new position in First Solar during the 4th quarter worth $5,304,000. Finally, Genus Capital Management Inc. acquired a new position in First Solar in the fourth quarter valued at $4,525,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Freedom Capital raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Morgan Stanley lowered their price target on First Solar from $275.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 28th. BMO Capital Markets dropped their price target 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. Evercore lifted their target price on First Solar from $212.00 to $219.00 in a research note on Monday, May 4th. Finally, Barclays dropped their target price on First Solar from $228.00 to $213.00 and set an “overweight” rating on the stock in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.78.

Insider Activity

In other First Solar news, CFO Alexander R. Bradley sold 498 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $107,383.74. Following the sale, the chief financial officer directly owned 30,712 shares in the company, valued at approximately $6,622,428.56. The trade was a 1.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kuntal Kumar Verma sold 582 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $250.00, for a total transaction of $145,500.00. Following the transaction, the insider directly owned 4,967 shares in the company, valued at approximately $1,241,750. This trade represents a 10.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,466 shares of company stock valued at $8,014,105 over the last three months. 0.39% of the stock is currently owned by corporate insiders.

Trending Headlines about First Solar

Here are the key news stories impacting First Solar this week:

• Negative Sentiment: Multiple law firms, including Rosen, Schall, Kaplan Fox, Pomerantz, and others, urged First Solar shareholders to act on a securities fraud/class action lawsuit ahead of the August 24 deadline. Article Title
• Negative Sentiment: A class action has already been filed alleging First Solar and certain officers violated Sections 10(b) and 20(a) and Rule 10b-5, increasing legal overhang on the stock. Article Title
• Neutral Sentiment: One market update noted First Solar stock recently fell in trading, with the decline adding to near-term weakness already reflected in the shares. Article Title

First Solar Price Performance

Shares of FSLR opened at $224.57 on Friday. First Solar, Inc. has a twelve month low of $159.85 and a twelve month high of $320.95. The stock’s 50 day moving average is $247.56 and its two-hundred day moving average is $232.06. The firm has a market capitalization of $24.13 billion, a PE ratio of 14.51, a P/E/G ratio of 0.50 and a beta of 1.73. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The company’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.95 EPS. Research analysts anticipate that First Solar, Inc. will post 17.61 earnings per share for the current year.

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.