Handelsbanken Fonder AB Acquires 2,300 Shares of First Solar, Inc. (NASDAQ:FSLR)

Handelsbanken Fonder AB grew its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 12.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 21,281 shares of the solar cell manufacturer’s stock after acquiring an additional 2,300 shares during the period. Handelsbanken Fonder AB’s holdings in First Solar were worth $3,666,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. CWM LLC grew its holdings in shares of First Solar by 16.1% during the 4th quarter. CWM LLC now owns 3,171 shares of the solar cell manufacturer’s stock worth $546,000 after acquiring an additional 439 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of First Solar by 934.6% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 19,409 shares of the solar cell manufacturer’s stock worth $3,344,000 after acquiring an additional 17,533 shares during the period. abrdn plc grew its holdings in shares of First Solar by 15.3% during the 4th quarter. abrdn plc now owns 266,648 shares of the solar cell manufacturer’s stock worth $45,938,000 after acquiring an additional 35,445 shares during the period. Ninepoint Partners LP purchased a new position in shares of First Solar during the 4th quarter worth approximately $1,055,000. Finally, Xponance Inc. grew its holdings in shares of First Solar by 2.9% during the 4th quarter. Xponance Inc. now owns 15,297 shares of the solar cell manufacturer’s stock worth $2,635,000 after acquiring an additional 429 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

NASDAQ FSLR opened at $175.02 on Friday. The business’s fifty day moving average price is $162.96 and its 200-day moving average price is $156.96. The stock has a market capitalization of $18.73 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 0.30 and a beta of 1.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $232.00.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.06. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.31 billion. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The company’s revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.07) EPS. On average, equities analysts predict that First Solar, Inc. will post 13.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Barclays upped their target price on First Solar from $224.00 to $227.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Bank of America upped their price target on First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Roth Mkm restated a “buy” rating and issued a $230.00 price target on shares of First Solar in a research note on Thursday, April 18th. Royal Bank of Canada restated an “outperform” rating and issued a $195.00 price target on shares of First Solar in a research note on Wednesday, February 28th. Finally, Oppenheimer restated an “outperform” rating and issued a $269.00 price target on shares of First Solar in a research note on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.36.

Insider Buying and Selling

In related news, insider Kuntal Kumar Verma sold 250 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $148.34, for a total value of $37,085.00. Following the transaction, the insider now directly owns 5,170 shares of the company’s stock, valued at approximately $766,917.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Georges Antoun sold 2,400 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total value of $422,400.00. Following the transaction, the insider now directly owns 37,412 shares of the company’s stock, valued at approximately $6,584,512. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kuntal Kumar Verma sold 250 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $148.34, for a total value of $37,085.00. Following the completion of the transaction, the insider now directly owns 5,170 shares in the company, valued at $766,917.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,620 shares of company stock valued at $4,269,540. 0.58% of the stock is owned by company insiders.

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.