Handelsinvest Investeringsforvaltning Has $1.22 Million Stake in First Solar, Inc. (NASDAQ:FSLR)

Handelsinvest Investeringsforvaltning raised its holdings in First Solar, Inc. (NASDAQ:FSLR) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,198 shares of the solar cell manufacturer’s stock after acquiring an additional 342 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in First Solar were worth $1,215,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FSLR. Norges Bank acquired a new position in First Solar in the fourth quarter valued at about $298,123,000. Schroder Investment Management Group boosted its position in 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 valued at $422,861,000 after purchasing an additional 351,540 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in First Solar by 504.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock valued at $68,852,000 after purchasing an additional 333,496 shares during the last quarter. Vanguard Group Inc. boosted its position in First Solar by 2.4% during the third quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock valued at $1,945,549,000 after purchasing an additional 279,424 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in First Solar by 10.2% during the third quarter. Wellington Management Group LLP now owns 2,283,705 shares of the solar cell manufacturer’s stock valued at $369,024,000 after purchasing an additional 211,755 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Trading Up 0.8 %

NASDAQ:FSLR opened at $218.38 on Wednesday. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $23.38 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 0.30 and a beta of 1.44. The firm’s 50 day moving average is $234.23 and its 200 day moving average is $186.29. 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 earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The business had revenue of $794.10 million for the quarter, compared to analysts’ expectations of $718.19 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The business’s revenue for the quarter was up 44.8% compared to the same quarter last year. Sell-side analysts expect that First Solar, Inc. will post 13.58 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on FSLR. Barclays increased their price target on First Solar from $227.00 to $228.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Susquehanna upped their price objective on First Solar from $258.00 to $285.00 and gave the company a “positive” rating in a research note on Wednesday. Wells Fargo & Company upgraded First Solar from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $187.00 to $250.00 in a research note on Friday, April 19th. Bank of America increased their target price on First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, The Goldman Sachs Group increased their price target on First Solar from $268.00 to $302.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and an average price target of $267.12.

Insider Transactions at First Solar

In related news, insider Kuntal Kumar Verma sold 1,621 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 3,549 shares in the company, valued at $922,740. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other First Solar news, insider Kuntal Kumar Verma sold 1,621 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $260.00, for a total transaction of $421,460.00. Following the sale, the insider now owns 3,549 shares in the company, valued at $922,740. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Markus Gloeckler sold 1,937 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $175.00, for a total value of $338,975.00. Following the transaction, the chief technology officer now directly owns 12,536 shares in the company, valued at $2,193,800. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,490 shares of company stock valued at $13,301,803. 0.58% of the stock is currently owned by company insiders.

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.