Andra AP fonden Has $15.44 Million Stock Holdings in First Solar, Inc. $FSLR

Andra AP fonden increased its position in First Solar, Inc. (NASDAQ:FSLR) by 226.3% in the first quarter, Holdings Channel.com reports. The firm owned 78,249 shares of the solar cell manufacturer’s stock after acquiring an additional 54,271 shares during the period. Andra AP fonden’s holdings in First Solar were worth $15,435,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of First Solar during the fourth quarter worth approximately $392,040,000. Viking Global Investors LP grew its holdings in First Solar by 60.6% during the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after acquiring an additional 854,919 shares during the period. Polar Capital Holdings Plc bought a new stake in shares of First Solar during the 4th quarter valued at $200,109,000. Lightrock Netherlands B.V. grew its stake in shares of First Solar by 2,663.8% during the fourth 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. Finally, Amundi increased its holdings in First Solar by 38.6% in the third quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer’s stock valued at $459,917,000 after purchasing an additional 564,032 shares during the last quarter. 92.08% of the stock is owned by institutional investors.

Insider Buying and Selling at First Solar

In related news, General Counsel Jason E. Dymbort sold 409 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $88,192.67. Following the sale, the general counsel owned 10,409 shares of the company’s stock, valued at $2,244,492.67. This represents a 3.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Markus Gloeckler sold 420 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total value of $90,564.60. Following the completion of the transaction, the chief technology officer owned 10,896 shares in the company, valued at $2,349,504.48. The trade was a 3.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 31,893 shares of company stock worth $7,893,775 in the last 90 days. Company insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on FSLR shares. BMO Capital Markets reduced their price objective on shares of First Solar from $252.00 to $237.00 and set a “market perform” rating on the stock in a research note on Monday, April 20th. TD Cowen reissued a “buy” rating on shares of First Solar in a research report on Monday. Weiss Ratings raised shares of First Solar from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 25th. Susquehanna upped their price objective on shares of First Solar from $250.00 to $270.00 and gave the company a “positive” rating in a research report on Friday, July 10th. Finally, Truist Financial began coverage on First Solar in a research note on Monday, July 13th. They set a “hold” rating and a $249.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $257.10.

First Solar Stock Up 0.4%

NASDAQ:FSLR opened at $206.05 on Wednesday. The firm has a market capitalization of $22.14 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 0.46 and a beta of 1.73. First Solar, Inc. has a twelve month low of $171.99 and a twelve month high of $320.95. The stock’s 50 day moving average price is $250.23 and its two-hundred day moving average price is $227.94. 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 (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.35. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. First Solar’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.95 EPS. Equities research analysts expect that First Solar, Inc. will post 17.54 earnings per share for the current fiscal year.

First Solar News Summary

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

• Positive Sentiment: First Solar continues to draw attention from investors and analysts because of its growth in U.S. solar manufacturing and exposure to domestic solar demand. Article Title
• Neutral Sentiment: Several law firms issued reminder notices about the pending securities class action and the August 24 deadline for investors to seek lead-plaintiff status. Article Title
• Neutral Sentiment: Pomerantz announced that a class action has been filed against First Solar and certain officers, alleging securities-law violations tied to the class period. Article Title
• Negative Sentiment: The lawsuit and repeated legal notices highlight alleged misrepresentations about module production underutilization and the challenges of onshoring operations, which can weigh on investor sentiment and raise litigation risk. Article Title

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.