82,100 Shares in First Solar, Inc. (NASDAQ:FSLR) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 82,100 shares of the solar cell manufacturer’s stock, valued at approximately $14,469,000. KLP Kapitalforvaltning AS owned 0.08% of First Solar as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FSLR. Larson Financial Group LLC grew its stake in shares of First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after purchasing an additional 107 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares during the period. Crews Bank & Trust acquired a new stake in shares of First Solar during the fourth quarter worth $53,000. Hudson Edge Investment Partners Inc. acquired a new stake in shares of First Solar during the fourth quarter worth $53,000. Finally, Financial Avengers Inc. acquired a new position in First Solar in the third quarter valued at about $77,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at First Solar

In other news, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the transaction, the chief executive officer now directly owns 103,403 shares in the company, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $136.60, for a total value of $1,021,085.00. Following the completion of the transaction, the insider now owns 3,549 shares of the company’s stock, valued at $484,793.40. The trade was a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,311 shares of company stock valued at $4,767,158. 0.58% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Robert W. Baird dropped their target price on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Truist Financial reiterated a “buy” rating and set a $285.00 target price (down previously from $300.00) on shares of First Solar in a report on Wednesday, February 26th. Morgan Stanley dropped their target price on First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Barclays dropped their price objective on First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, Guggenheim dropped their price objective on First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Trading Up 2.2 %

Shares of FSLR stock opened at $131.32 on Monday. The stock’s fifty day moving average price is $156.26 and its two-hundred day moving average price is $187.86. The company has a market cap of $14.06 billion, a PE ratio of 11.31, a P/E/G ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a fifty-two week low of $124.96 and a fifty-two week high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. Equities analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal 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.