ABN AMRO Bank N.V. Has $39.67 Million Stock Position in First Solar, Inc. $FSLR

ABN AMRO Bank N.V. boosted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 8.9% in the 1st quarter, Holdings Channel reports. The firm owned 198,911 shares of the solar cell manufacturer’s stock after buying an additional 16,281 shares during the period. ABN AMRO Bank N.V.’s holdings in First Solar were worth $39,668,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Woodline Partners LP boosted its position in First Solar by 40.7% in the first quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock valued at $1,143,000 after buying an additional 2,615 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in First Solar by 50.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 516 shares of the solar cell manufacturer’s stock worth $85,000 after acquiring an additional 174 shares during the last quarter. Brown Advisory Inc. increased its holdings in First Solar by 84.3% in the 2nd quarter. Brown Advisory Inc. now owns 4,529 shares of the solar cell manufacturer’s stock worth $750,000 after purchasing an additional 2,072 shares in the last quarter. Cerity Partners LLC acquired a new position in First Solar in the 2nd quarter worth about $494,000. Finally, AXA S.A. raised its position in First Solar by 6.3% in the second quarter. AXA S.A. now owns 18,862 shares of the solar cell manufacturer’s stock valued at $3,122,000 after purchasing an additional 1,115 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Transactions at First Solar

In other First Solar news, insider Caroline Stockdale sold 10,628 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $275.60, for a total value of $2,929,076.80. Following the transaction, the insider directly owned 23,792 shares of the company’s stock, valued at approximately $6,557,075.20. The trade was a 30.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alexander R. Bradley sold 498 shares of the firm’s 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 $107,383.74. Following the sale, the chief financial officer directly owned 30,712 shares of the company’s stock, valued at approximately $6,622,428.56. This trade represents a 1.60% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 32,466 shares of company stock valued at $8,014,105. 0.39% of the stock is owned by insiders.

First Solar Stock Performance

FSLR stock opened at $239.07 on Friday. The stock has a 50-day moving average price of $243.56 and a 200-day moving average price of $233.11. First Solar, Inc. has a 1-year low of $149.54 and a 1-year high of $320.95. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a market cap of $25.69 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 0.53 and a beta of 1.71.

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

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citigroup cut their price target on First Solar from $300.00 to $243.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Susquehanna lowered their price objective on First Solar from $280.00 to $250.00 and set a “positive” rating for the company in a research note on Thursday, April 9th. BMO Capital Markets dropped their price objective on shares of First Solar from $252.00 to $237.00 and set a “market perform” rating for the company in a report on Monday, April 20th. Morgan Stanley cut their target price on shares of First Solar from $275.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. Finally, Argus boosted their target price on shares of First Solar from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $249.78.

More First Solar News

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

• Negative Sentiment: Several firms, including Howard G. Smith, Bronstein Gewirtz & Grossman, Rosen Law, Pomerantz, Portnoy, and the Schall Law Firm, announced or promoted class-action cases tied to First Solar, increasing legal overhang and headline risk. Article Title
• Negative Sentiment: Multiple securities-fraud investigations were also launched or reiterated by plaintiff firms, suggesting investors are actively probing whether earlier company disclosures may have been misleading. Article Title
• Neutral Sentiment: One Zacks item called First Solar a strong growth stock, which is supportive on fundamentals, but it appears to be a generic rating piece rather than a new company-specific catalyst. 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.