Principal Financial Group Inc. Raises Holdings in First Solar, Inc. $FSLR

Principal Financial Group Inc. grew its holdings in First Solar, Inc. (NASDAQ:FSLR) by 18.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 187,767 shares of the solar cell manufacturer’s stock after buying an additional 29,651 shares during the quarter. Principal Financial Group Inc. owned about 0.18% of First Solar worth $41,408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Strategic Wealth Investment Group LLC purchased a new stake in shares of First Solar during the 2nd quarter worth $26,000. Hantz Financial Services Inc. lifted its stake in shares of First Solar by 69.4% in the second quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock valued at $30,000 after purchasing an additional 75 shares during the period. Total Investment Management Inc. purchased a new stake in First Solar during the second quarter worth about $36,000. NBT Bank N A NY grew its position in First Solar by 550.0% during the third quarter. NBT Bank N A NY now owns 221 shares of the solar cell manufacturer’s stock worth $49,000 after buying an additional 187 shares during the period. Finally, Mather Group LLC. acquired a new position in First Solar during the third quarter worth about $52,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Down 0.4%

FSLR opened at $238.06 on Thursday. The firm has a market cap of $25.55 billion, a P/E ratio of 18.28, a PEG ratio of 0.31 and a beta of 1.60. The business’s fifty day simple moving average is $254.04 and its 200 day simple moving average is $231.21. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $285.99. The company has a quick ratio of 1.55, a current ratio of 1.91 and a debt-to-equity ratio of 0.03.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FSLR. Morgan Stanley set a $275.00 price target on First Solar in a research note on Friday, October 31st. Evercore ISI lifted their price objective on First Solar from $240.90 to $241.00 in a report on Friday, October 31st. Bank of America lowered their target price on First Solar from $291.00 to $271.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. TD Cowen lifted their price target on First Solar from $260.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Finally, Jefferies Financial Group lowered shares of First Solar from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $269.00 to $260.00 in a research report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $275.94.

Insider Activity at First Solar

In other news, Director Paul H. Stebbins sold 7,000 shares of First Solar stock in a transaction dated 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 completion of the sale, the director directly owned 15,287 shares in the company, valued at $4,011,308.80. The trade was a 31.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.48% of the stock is currently owned by company insiders.

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.