First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Swedbank AB

Swedbank AB trimmed its holdings in First Solar, Inc. (NASDAQ:FSLR) by 10.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 112,054 shares of the solar cell manufacturer’s stock after selling 12,450 shares during the period. Swedbank AB owned 0.10% of First Solar worth $27,951,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in FSLR. Electron Capital Partners LLC grew its stake in First Solar by 81,947.0% in the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock valued at $1,729,223,000 after acquiring an additional 7,660,409 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in First Solar by 11.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock valued at $472,963,000 after acquiring an additional 279,719 shares during the last quarter. Anomaly Capital Management LP acquired a new stake in First Solar in the 2nd quarter valued at about $53,752,000. Canada Pension Plan Investment Board grew its stake in First Solar by 2,429.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 174,530 shares of the solar cell manufacturer’s stock valued at $39,350,000 after acquiring an additional 167,629 shares during the last quarter. Finally, Forest Avenue Capital Management LP acquired a new stake in First Solar in the 2nd quarter valued at about $30,962,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at First Solar

In other news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the transaction, the chief accounting officer now directly owns 500 shares in the company, valued at $108,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the transaction, the insider now owns 3,468 shares in the company, valued at $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. UBS Group upped their target price on shares of First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada restated an “outperform” rating and issued a $315.00 target price on shares of First Solar in a report on Wednesday, July 31st. Oppenheimer upped their target price on shares of First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Robert W. Baird reduced their target price on shares of First Solar from $344.00 to $307.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Finally, Jefferies Financial Group reduced their target price on shares of First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $283.64.

First Solar Stock Up 1.8 %

Shares of NASDAQ:FSLR opened at $205.62 on Thursday. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $306.77. The company has a 50 day moving average of $227.39 and a two-hundred day moving average of $222.37. The company has a market capitalization of $22.01 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 0.38 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. During the same quarter last year, the company earned $1.85 earnings per share. First Solar’s revenue for the quarter was up 24.6% on a year-over-year basis. As a group, analysts forecast that First Solar, Inc. will post 13.53 earnings per share for the current fiscal year.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.