First Solar, Inc. $FSLR Holdings Lifted by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 7.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,893 shares of the solar cell manufacturer’s stock after purchasing an additional 4,049 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in First Solar were worth $9,253,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FSLR. Wealth Preservation Advisors LLC acquired a new position in shares of First Solar in the 1st quarter worth $25,000. TD Private Client Wealth LLC lifted its holdings in shares of First Solar by 126.9% during the second quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock valued at $25,000 after purchasing an additional 85 shares during the last quarter. Harbor Investment Advisory LLC increased its stake in First Solar by 138.9% in the 2nd quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock worth $28,000 after purchasing an additional 100 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in First Solar by 69.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock worth $30,000 after buying an additional 75 shares during the period. Finally, Colonial Trust Advisors acquired a new position in shares of First Solar in the first quarter worth about $32,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FSLR has been the topic of several recent analyst reports. KeyCorp reissued an “overweight” rating on shares of First Solar in a research report on Friday, October 31st. Needham & Company LLC began coverage on shares of First Solar in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $286.00 target price for the company. JPMorgan Chase & Co. increased their price objective on First Solar from $278.00 to $303.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $316.00 target price on shares of First Solar in a research report on Friday, October 31st. Finally, Guggenheim upped their price objective on shares of First Solar from $287.00 to $289.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $269.79.

First Solar Trading Up 0.3%

Shares of NASDAQ FSLR opened at $273.04 on Friday. The company has a 50-day moving average of $243.43 and a two-hundred day moving average of $201.10. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $281.55. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. The company has a market cap of $29.30 billion, a PE ratio of 23.36, a P/E/G ratio of 0.46 and a beta of 1.51.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing the consensus estimate of $4.32 by ($0.08). First Solar had a net margin of 28.95% and a return on equity of 15.57%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the company earned $2.91 earnings per share. The company’s quarterly revenue was up 79.7% on a year-over-year basis. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. As a group, equities analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity at First Solar

In other First Solar news, Director Michael T. Sweeney sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $271.11, for a total transaction of $1,219,995.00. Following the transaction, the director owned 13,662 shares of the company’s stock, valued at $3,703,904.82. The trade was a 24.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul H. Stebbins sold 7,000 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $262.40, for a total transaction of $1,836,800.00. Following the completion of the transaction, the director owned 15,287 shares in the company, valued at approximately $4,011,308.80. This represents a 31.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 48,912 shares of company stock worth $12,971,349. 0.48% of the stock is owned by company insiders.

About First Solar

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.