AMF Tjanstepension AB Decreases Holdings in First Solar, Inc. $FSLR

AMF Tjanstepension AB decreased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 70.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,207 shares of the solar cell manufacturer’s stock after selling 50,507 shares during the quarter. AMF Tjanstepension AB’s holdings in First Solar were worth $3,511,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of First Solar by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer’s stock worth $1,668,919,000 after purchasing an additional 378,641 shares during the last quarter. Wellington Management Group LLP raised its position in shares of First Solar by 17.2% during the 1st quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer’s stock worth $349,617,000 after purchasing an additional 405,457 shares during the last quarter. Invesco Ltd. raised its position in shares of First Solar by 32.3% during the 1st quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer’s stock worth $306,909,000 after purchasing an additional 592,444 shares during the last quarter. Samlyn Capital LLC raised its position in shares of First Solar by 6.3% during the 1st quarter. Samlyn Capital LLC now owns 1,741,794 shares of the solar cell manufacturer’s stock worth $220,215,000 after purchasing an additional 103,403 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of First Solar by 20.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,741,026 shares of the solar cell manufacturer’s stock worth $220,118,000 after purchasing an additional 290,112 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Trading Down 0.9%

FSLR stock opened at $230.13 on Friday. The company has a market cap of $24.68 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 0.46 and a beta of 1.38. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $201.18 and a 200-day simple moving average of $167.89. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $240.60.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.50. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, equities research analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Nathan B. Theurer sold 686 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark R. Widmar sold 2,321 shares of the company’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $199.44, for a total transaction of $462,900.24. Following the sale, the chief executive officer directly owned 81,861 shares of the company’s stock, valued at approximately $16,326,357.84. This trade represents a 2.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,715 shares of company stock valued at $5,733,305. 0.48% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on FSLR shares. Weiss Ratings restated a “hold (c)” rating on shares of First Solar in a research report on Saturday, September 27th. Bank of America boosted their price target on First Solar from $185.00 to $201.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Royal Bank Of Canada boosted their price target on First Solar from $188.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday, July 1st. Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a report on Friday, August 1st. Finally, Mizuho boosted their price target on First Solar from $275.00 to $278.00 and gave the company an “outperform” rating in a report on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $231.04.

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.