Forsta AP Fonden Increases Stake in First Solar, Inc. (NASDAQ:FSLR)

Forsta AP Fonden lifted its stake in First Solar, Inc. (NASDAQ:FSLR) by 3.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,000 shares of the solar cell manufacturer’s stock after purchasing an additional 800 shares during the quarter. Forsta AP Fonden’s holdings in First Solar were worth $5,186,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Dixon Mitchell Investment Counsel Inc. purchased a new position in First Solar during the 1st quarter worth approximately $25,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in First Solar in the 4th quarter valued at $27,000. Atlas Capital Advisors LLC grew its stake in First Solar by 411.1% in the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after acquiring an additional 111 shares during the period. Riverview Trust Co acquired a new stake in First Solar in the 1st quarter valued at $32,000. Finally, Summit Securities Group LLC purchased a new position in First Solar in the 2nd quarter valued at $36,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Stock Performance

NASDAQ FSLR opened at $228.79 on Friday. The company has a market cap of $24.49 billion, a P/E ratio of 23.98, a P/E/G ratio of 0.40 and a beta of 1.44. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65. The stock has a 50-day moving average of $221.07 and a two-hundred day moving average of $210.14. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. During the same period in the previous year, the company posted $1.85 earnings per share. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. As a group, analysts anticipate that First Solar, Inc. will post 13.6 EPS for the current year.

Insider Transactions at First Solar

In other news, CAO Byron Michael Jeffers sold 1,766 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the transaction, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at $108,250. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Byron Michael Jeffers sold 1,766 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total value of $382,339.00. Following the completion of the transaction, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at $108,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the company’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 value of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at $769,896. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,506 shares of company stock valued at $2,827,217. 0.58% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FSLR. Susquehanna raised their price objective on First Solar from $258.00 to $285.00 and gave the company a “positive” rating in a report on Wednesday, July 3rd. Barclays raised their price objective on First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Piper Sandler raised their price objective on First Solar from $219.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Clarkson Capital assumed coverage on First Solar in a report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price objective on the stock. Finally, Oppenheimer lifted their price target on First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.25.

First Solar Profile

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.