First Solar, Inc. (NASDAQ:FSLR) Shares Bought by Swedbank AB

Swedbank AB increased its position in First Solar, Inc. (NASDAQ:FSLR) by 26.8% during the fourth quarter, Holdings Channel reports. The fund owned 142,060 shares of the solar cell manufacturer’s stock after purchasing an additional 30,006 shares during the quarter. Swedbank AB’s holdings in First Solar were worth $25,037,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Western Financial Corp CA bought a new stake in shares of First Solar during the third quarter valued at approximately $1,209,000. Whalen Wealth Management Inc. grew its stake in shares of First Solar by 47.0% in the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock worth $856,000 after purchasing an additional 1,554 shares in the last quarter. Stifel Financial Corp raised its stake in shares of First Solar by 36.9% during the third quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock valued at $5,350,000 after purchasing an additional 5,780 shares in the last quarter. iA Global Asset Management Inc. lifted its holdings in First Solar by 802.1% in the third quarter. iA Global Asset Management Inc. now owns 20,460 shares of the solar cell manufacturer’s stock worth $5,104,000 after purchasing an additional 18,192 shares during the period. Finally, Harbour Capital Advisors LLC increased its stake in First Solar by 224.0% during the 3rd quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock valued at $1,301,000 after buying an additional 3,607 shares during the period. 92.08% of the stock is currently owned by institutional investors.

First Solar Stock Performance

Shares of FSLR opened at $167.39 on Friday. The firm has a market cap of $17.92 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 0.20 and a beta of 1.49. The company’s fifty day moving average is $187.26 and its 200-day moving average is $206.36. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 12 month low of $135.88 and a 12 month high of $306.77.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.19). The company had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. First Solar’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business earned $2.50 earnings per share. Equities analysts expect that First Solar, Inc. will post 13.07 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley dropped their price objective on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $200.00 to $254.00 in a research report on Tuesday, October 22nd. BMO Capital Markets reissued an “outperform” rating and set a $260.00 price objective (down from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Guggenheim reaffirmed a “buy” rating and set a $335.00 target price on shares of First Solar in a research report on Wednesday, January 22nd. Finally, Jefferies Financial Group decreased their price target on First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, First Solar has a consensus rating of “Moderate Buy” and a consensus price target of $276.29.

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.