First Solar, Inc. $FSLR Shares Bought by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd increased its stake in First Solar, Inc. (NASDAQ:FSLR) by 71.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 122,820 shares of the solar cell manufacturer’s stock after buying an additional 51,190 shares during the quarter. Mediolanum International Funds Ltd owned about 0.11% of First Solar worth $27,454,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Principal Financial Group Inc. grew its position in First Solar by 18.8% in the third quarter. Principal Financial Group Inc. now owns 187,767 shares of the solar cell manufacturer’s stock valued at $41,408,000 after acquiring an additional 29,651 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of First Solar by 8.3% in the third quarter. UMB Bank n.a. now owns 950 shares of the solar cell manufacturer’s stock valued at $210,000 after purchasing an additional 73 shares during the period. Independent Advisor Alliance acquired a new stake in shares of First Solar during the third quarter valued at about $204,000. Frank Rimerman Advisors LLC purchased a new stake in shares of First Solar during the third quarter worth about $336,000. Finally, Keybank National Association OH lifted its stake in shares of First Solar by 2.3% in the third quarter. Keybank National Association OH now owns 5,678 shares of the solar cell manufacturer’s stock worth $1,252,000 after acquiring an additional 126 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other First Solar news, Director Michael T. Sweeney sold 4,500 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $271.11, for a total value of $1,219,995.00. Following the sale, the director directly owned 13,662 shares in the company, valued at approximately $3,703,904.82. This trade represents a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Paul H. Stebbins sold 7,000 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $262.40, for a total transaction of $1,836,800.00. Following the transaction, the director directly owned 15,287 shares of the company’s stock, valued at approximately $4,011,308.80. This trade represents a 31.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 48,912 shares of company stock valued at $12,971,349. Insiders own 0.48% of the company’s stock.

First Solar Trading Up 0.7%

NASDAQ FSLR opened at $225.52 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.91. First Solar, Inc. has a one year low of $116.56 and a one year high of $285.99. The company has a 50-day simple moving average of $255.74 and a 200-day simple moving average of $229.87. The firm has a market capitalization of $24.20 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 0.29 and a beta of 1.60.

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

Analyst Upgrades and Downgrades

FSLR has been the subject of a number of recent analyst reports. Needham & Company LLC started coverage on First Solar in a research note on Wednesday, October 22nd. They set a “buy” rating and a $286.00 price objective for the company. Royal Bank Of Canada lifted their price target on shares of First Solar from $244.00 to $258.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Jefferies Financial Group cut shares of First Solar from a “buy” rating to a “hold” rating and cut their price target for the company from $269.00 to $260.00 in a report on Wednesday, January 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of First Solar in a report on Monday, December 29th. Finally, BMO Capital Markets set a $263.00 target price on shares of First Solar in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.94.

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.