Forsta AP Fonden trimmed its stake in First Solar, Inc. (NASDAQ:FSLR – Free Report) by 8.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,300 shares of the solar cell manufacturer’s stock after selling 2,200 shares during the period. Forsta AP Fonden’s holdings in First Solar were worth $5,068,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Financial Avengers Inc. grew its holdings in shares of First Solar by 27.1% during the 4th quarter. Financial Avengers Inc. now owns 286 shares of the solar cell manufacturer’s stock worth $43,000 after acquiring an additional 61 shares during the period. Wealth Architects LLC grew its stake in First Solar by 3.0% in the fourth quarter. Wealth Architects LLC now owns 2,104 shares of the solar cell manufacturer’s stock worth $315,000 after purchasing an additional 61 shares during the period. Czech National Bank lifted its position in First Solar by 0.6% during the first quarter. Czech National Bank now owns 11,680 shares of the solar cell manufacturer’s stock valued at $2,540,000 after buying an additional 75 shares during the period. Field & Main Bank lifted its position in First Solar by 7.8% during the first quarter. Field & Main Bank now owns 1,040 shares of the solar cell manufacturer’s stock valued at $226,000 after buying an additional 75 shares during the period. Finally, CWM LLC grew its position in shares of First Solar by 3.5% in the 4th quarter. CWM LLC now owns 2,625 shares of the solar cell manufacturer’s stock worth $393,000 after buying an additional 88 shares during the period. Hedge funds and other institutional investors own 82.74% of the company’s stock.
First Solar Price Performance
NASDAQ FSLR opened at $189.14 on Friday. The company has a 50-day moving average price of $193.00 and a 200-day moving average price of $187.62. First Solar, Inc. has a 52 week low of $60.96 and a 52 week high of $232.00. The company has a quick ratio of 2.44, a current ratio of 3.08 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $20.21 billion, a P/E ratio of 484.97 and a beta of 1.36.
Analyst Ratings Changes
FSLR has been the topic of several research reports. Credit Suisse Group boosted their price objective on shares of First Solar from $163.00 to $170.00 in a research note on Friday, April 28th. Barclays upped their price target on First Solar from $162.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 23rd. Citigroup cut First Solar from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $220.00 to $194.00 in a research note on Friday, April 21st. Piper Sandler increased their target price on First Solar from $225.00 to $260.00 in a research note on Monday, May 22nd. Finally, Evercore ISI lowered their price target on First Solar from $189.00 to $185.00 in a research report on Thursday, June 29th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar presently has a consensus rating of “Hold” and a consensus target price of $211.12.
Insider Activity at First Solar
In other news, Director Paul H. Stebbins sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $229.31, for a total value of $573,275.00. Following the transaction, the director now owns 28,772 shares of the company’s stock, valued at $6,597,707.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other First Solar news, CEO Mark R. Widmar sold 39,948 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $199.97, for a total value of $7,988,401.56. Following the completion of the transaction, the chief executive officer now directly owns 90,163 shares in the company, valued at $18,029,895.11. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Paul H. Stebbins sold 2,500 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $229.31, for a total transaction of $573,275.00. Following the sale, the director now owns 28,772 shares in the company, valued at $6,597,707.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,448 shares of company stock worth $12,182,857. Corporate insiders own 0.58% of the company’s stock.
First Solar Profile
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.
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