Tredje AP fonden Sells 202,130 Shares of First Solar, Inc. $FSLR

Tredje AP fonden cut its stake in First Solar, Inc. (NASDAQ:FSLR) by 43.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 262,697 shares of the solar cell manufacturer’s stock after selling 202,130 shares during the period. Tredje AP fonden’s holdings in First Solar were worth $68,624,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in FSLR. Aventura Private Wealth LLC acquired a new position in shares of First Solar in the 4th quarter valued at $25,000. Strategic Wealth Investment Group LLC acquired a new position in shares of First Solar in the 2nd quarter valued at $26,000. Larson Financial Group LLC raised its stake in shares of First Solar by 117.0% in the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Elyxium Wealth LLC acquired a new position in shares of First Solar in the 4th quarter valued at $30,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of First Solar in the 3rd quarter valued at $44,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Trading Up 0.1%

Shares of First Solar stock opened at $233.64 on Tuesday. The stock has a market capitalization of $25.11 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 0.51 and a beta of 1.57. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. The company has a 50-day simple moving average of $201.37 and a 200 day simple moving average of $231.25. First Solar, Inc. has a 12-month low of $135.50 and a 12-month high of $285.99.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The firm’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter last year, the company posted $1.95 EPS. Research analysts expect that First Solar, Inc. will post 17.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Evercore increased their price objective on shares of First Solar from $212.00 to $219.00 in a research note on Monday, May 4th. Wolfe Research cut shares of First Solar from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Wall Street Zen cut shares of First Solar from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Bank of America dropped their price objective on shares of First Solar from $291.00 to $271.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Finally, UBS Group dropped their price objective on shares of First Solar from $300.00 to $290.00 and set a “buy” rating for the company in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, First Solar has a consensus rating of “Moderate Buy” and a consensus target price of $247.03.

Insider Buying and Selling at First Solar

In related news, insider Michael Koralewski sold 215 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 $46,360.45. Following the completion of the sale, the insider owned 14,642 shares in the company, valued at $3,157,254.46. This trade represents a 1.45% decrease in their position. The sale was disclosed in a document filed 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, insider Georges Antoun sold 566 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $122,046.58. Following the sale, the insider owned 19,918 shares of the company’s stock, valued at $4,294,918.34. This trade represents a 2.76% 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. Insiders have sold a total of 92,430 shares of company stock worth $18,670,055 over the last ninety days. Company insiders own 0.39% of the company’s stock.

First Solar Company Profile

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.