Erste Asset Management GmbH Reduces Stock Holdings in First Solar, Inc. $FSLR

Erste Asset Management GmbH decreased its position in First Solar, Inc. (NASDAQ:FSLR) by 25.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 255,858 shares of the solar cell manufacturer’s stock after selling 85,324 shares during the period. Erste Asset Management GmbH owned about 0.24% of First Solar worth $68,372,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Deepwater Asset Management LLC lifted its stake in First Solar by 495.0% in the fourth quarter. Deepwater Asset Management LLC now owns 25,126 shares of the solar cell manufacturer’s stock valued at $6,564,000 after purchasing an additional 20,903 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in First Solar by 71.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,879 shares of the solar cell manufacturer’s stock valued at $1,013,000 after purchasing an additional 1,611 shares during the last quarter. Manchester Capital Management LLC lifted its stake in First Solar by 32.7% in the fourth quarter. Manchester Capital Management LLC now owns 337 shares of the solar cell manufacturer’s stock valued at $88,000 after purchasing an additional 83 shares during the last quarter. Krane Funds Advisors LLC bought a new stake in First Solar during the 4th quarter valued at $1,750,000. Finally, Telemark Asset Management LLC bought a new stake in First Solar during the 4th quarter valued at $13,062,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

FSLR opened at $279.01 on Monday. The stock has a market cap of $29.98 billion, a PE ratio of 18.02, a P/E/G ratio of 0.62 and a beta of 1.70. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. First Solar, Inc. has a 52 week low of $135.50 and a 52 week high of $320.95. The business’s fifty day simple moving average is $224.60 and its 200 day simple moving average is $233.01.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The firm’s revenue was up 23.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.95 earnings per share. As a group, research analysts expect that First Solar, Inc. will post 17.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FSLR. HSBC boosted their target price on shares of First Solar from $211.00 to $231.00 and gave the company a “hold” rating in a report on Tuesday, May 5th. Guggenheim boosted their target price on shares of First Solar from $269.00 to $279.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Wall Street Zen cut shares of First Solar from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Jefferies Financial Group lowered their target price on shares of First Solar from $205.00 to $187.00 and set a “hold” rating on the stock in a report on Tuesday, April 7th. Finally, UBS Group lowered their target price on shares of First Solar from $300.00 to $290.00 and set a “buy” rating on the stock in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $247.40.

Insider Buying and Selling at First Solar

In other news, CFO Alexander R. Bradley sold 498 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $107,383.74. Following the completion of the sale, the chief financial officer directly owned 30,712 shares in the company, valued at approximately $6,622,428.56. This represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mark R. Widmar sold 4,815 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $247.43, for a total transaction of $1,191,375.45. Following the sale, the chief executive officer owned 89,033 shares of the company’s stock, valued at approximately $22,029,435.19. This represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 61,426 shares of company stock valued at $13,802,836. 0.39% of the stock is currently owned by insiders.

About First Solar

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.