First Solar, Inc. (NASDAQ:FSLR) Shares Acquired by LGT Group Foundation

LGT Group Foundation raised its position in First Solar, Inc. (NASDAQ:FSLR) by 1.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,562 shares of the solar cell manufacturer’s stock after buying an additional 298 shares during the period. LGT Group Foundation’s holdings in First Solar were worth $5,087,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank acquired a new stake in shares of First Solar during the fourth quarter worth approximately $298,123,000. Schroder Investment Management Group lifted its position in shares of First Solar by 16.7% during the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock worth $422,861,000 after purchasing an additional 351,540 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of First Solar by 11.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after purchasing an additional 279,719 shares during the last quarter. Park West Asset Management LLC bought a new position in shares of First Solar during the fourth quarter worth about $26,359,000. Finally, Swedbank AB bought a new position in shares of First Solar during the first quarter worth about $21,815,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 1,621 shares of First Solar stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $260.00, for a total value of $421,460.00. Following the transaction, the insider now owns 3,549 shares in the company, valued at $922,740. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of First Solar 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 transaction, the insider now owns 3,468 shares in the company, valued at $769,896. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kuntal Kumar Verma sold 1,621 shares of First Solar stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $260.00, for a total transaction of $421,460.00. Following the completion of the transaction, the insider now owns 3,549 shares in the company, valued at approximately $922,740. The disclosure for this sale can be found here. Insiders have sold 12,506 shares of company stock worth $2,827,217 over the last quarter. 0.58% of the stock is currently owned by company insiders.

First Solar Price Performance

NASDAQ FSLR opened at $205.36 on Tuesday. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $306.77. 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 firm has a market capitalization of $21.98 billion, a PE ratio of 21.53, a P/E/G ratio of 0.35 and a beta of 1.44. The company’s 50 day simple moving average is $220.83 and its 200 day simple moving average is $208.24.

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

Analysts Set New Price Targets

FSLR has been the topic of several research analyst reports. Oppenheimer increased their price target on shares of First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Janney Montgomery Scott cut shares of First Solar from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 18th. The Goldman Sachs Group increased their price target on shares of First Solar from $268.00 to $302.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. JPMorgan Chase & Co. raised their target price on shares of First Solar from $262.00 to $282.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Five research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $277.25.

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.