APG Asset Management US Inc. Sells 27,691 Shares of First Solar, Inc. (NASDAQ:FSLR)

APG Asset Management US Inc. lowered its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 90.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,077 shares of the solar cell manufacturer’s stock after selling 27,691 shares during the period. APG Asset Management US Inc.’s holdings in First Solar were worth $685,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FSLR. Oregon Public Employees Retirement Fund increased its stake in shares of First Solar by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock valued at $2,068,000 after buying an additional 49 shares during the period. Cambridge Trust Co. lifted its holdings in shares of First Solar by 1.6% during the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock worth $546,000 after purchasing an additional 50 shares during the period. Great Diamond Partners LLC lifted its holdings in shares of First Solar by 3.8% during the first quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer’s stock worth $247,000 after purchasing an additional 53 shares during the period. Xponance Inc. grew its stake in shares of First Solar by 0.4% in the second quarter. Xponance Inc. now owns 15,346 shares of the solar cell manufacturer’s stock worth $3,460,000 after purchasing an additional 56 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in First Solar by 24.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the solar cell manufacturer’s stock valued at $70,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Up 5.8 %

Shares of NASDAQ:FSLR opened at $255.66 on Friday. The stock has a market cap of $27.37 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 0.42 and a beta of 1.44. The business’s 50 day moving average is $224.73 and its 200 day moving average is $215.14. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $306.77. 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 (NASDAQ:FSLR) last posted its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $939.71 million. During the same quarter in the prior year, the business posted $1.85 EPS. The business’s revenue was up 24.6% compared to the same quarter last year. On average, sell-side analysts forecast that First Solar, Inc. will post 13.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FSLR shares. DZ Bank raised First Solar from a “hold” rating to a “buy” rating and set a $280.00 price target for the company in a research note on Thursday, August 1st. Bank of America lifted their target price on shares of First Solar from $320.00 to $343.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. BMO Capital Markets cut their price target on shares of First Solar from $311.00 to $286.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. The Goldman Sachs Group boosted their price objective on First Solar from $268.00 to $302.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Finally, JPMorgan Chase & Co. raised their target price on First Solar from $262.00 to $282.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, First Solar has a consensus rating of “Moderate Buy” and a consensus price target of $284.12.

Insider Activity

In related news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now directly owns 3,468 shares in the company, valued at $769,896. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Byron Michael Jeffers sold 500 shares of First Solar 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the 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 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. Insiders sold a total of 10,885 shares of company stock valued at $2,405,757 over the last three months. Corporate insiders own 0.58% of the company’s stock.

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.