First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Swedbank AB

Swedbank AB reduced its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 10.0% during the third quarter, Holdings Channel.com reports. The fund owned 112,054 shares of the solar cell manufacturer’s stock after selling 12,450 shares during the quarter. Swedbank AB’s holdings in First Solar were worth $27,951,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Atlas Capital Advisors LLC increased 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 worth $31,000 after purchasing an additional 111 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in First Solar in the 1st quarter worth about $25,000. Summit Securities Group LLC purchased a new position in First Solar in the 2nd quarter worth about $36,000. Itau Unibanco Holding S.A. purchased a new position in First Solar in the 2nd quarter worth about $38,000. Finally, Riverview Trust Co purchased a new position in First Solar in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $205.62 on Thursday. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $227.39 and its two-hundred day moving average is $222.37. The company has a market cap of $22.01 billion, a P/E ratio of 21.55, a P/E/G ratio of 0.38 and a beta of 1.44. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $306.77.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping the consensus estimate of $2.69 by $0.56. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.85 EPS. On average, equities analysts expect that First Solar, Inc. will post 13.53 EPS for the current year.

Insider Activity

In other 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 transaction of $1,913,418.00. Following the sale, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $1,913,418.00. Following the sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,885 shares of company stock worth $2,405,757. Company insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on FSLR shares. Bank of America decreased their price objective on First Solar from $343.00 to $321.00 and set a “buy” rating for the company in a research report on Tuesday, October 8th. UBS Group raised their price objective on First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Barclays raised their price objective on First Solar from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Piper Sandler raised their price objective on First Solar from $219.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Finally, Truist Financial assumed coverage on First Solar in a research report on Thursday, September 26th. They set a “buy” rating and a $300.00 price objective for the company. Four research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and an average target price of $283.64.

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.