Tredje AP fonden Has $3.57 Million Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Tredje AP fonden lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 1.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,819 shares of the solar cell manufacturer’s stock after selling 249 shares during the quarter. Tredje AP fonden’s holdings in First Solar were worth $3,567,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of FSLR. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in First Solar by 6.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 259,177 shares of the solar cell manufacturer’s stock worth $43,749,000 after buying an additional 15,430 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in First Solar by 20.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 121,055 shares of the solar cell manufacturer’s stock valued at $20,434,000 after acquiring an additional 20,465 shares during the period. Northern Trust Corp raised its holdings in shares of First Solar by 1.7% in the 4th quarter. Northern Trust Corp now owns 1,020,527 shares of the solar cell manufacturer’s stock worth $175,816,000 after buying an additional 16,756 shares in the last quarter. Legend Financial Advisors Inc. acquired a new stake in First Solar in the 1st quarter valued at $759,000. Finally, Burford Brothers Inc. bought a new stake in First Solar in the fourth quarter valued at $3,539,000. 92.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FSLR has been the topic of several recent analyst reports. Mizuho restated a “neutral” rating and issued a $274.00 target price (up previously from $209.00) on shares of First Solar in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. The Goldman Sachs Group lifted their target price on shares of First Solar from $268.00 to $302.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. JPMorgan Chase & Co. increased their price target on First Solar from $262.00 to $282.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, Janney Montgomery Scott downgraded First Solar from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 18th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and an average price target of $283.46.

Insiders Place Their Bets

In related news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction 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 sale, the insider now owns 3,468 shares in the company, valued at approximately $769,896. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Byron Michael Jeffers sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,885 shares of company stock worth $2,405,757. Company insiders own 0.58% of the company’s stock.

First Solar Trading Up 0.8 %

NASDAQ FSLR opened at $241.81 on Thursday. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $306.77. The stock has a 50-day simple moving average of $221.49 and a 200 day simple moving average of $211.71. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $25.88 billion, a PE ratio of 25.35, a P/E/G ratio of 0.40 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.56. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. First Solar’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.85 EPS. Research analysts forecast that First Solar, Inc. will post 13.6 EPS for the current year.

First Solar Company 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.