Swiss National Bank Trims Holdings in First Solar, Inc. (NASDAQ:FSLR)

Swiss National Bank trimmed its position in First Solar, Inc. (NASDAQ:FSLRGet Rating) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 225,500 shares of the solar cell manufacturer’s stock after selling 800 shares during the quarter. Swiss National Bank owned about 0.21% of First Solar worth $15,363,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Clearstead Advisors LLC raised its stake in shares of First Solar by 22,940.0% in the first quarter. Clearstead Advisors LLC now owns 2,304 shares of the solar cell manufacturer’s stock worth $193,000 after purchasing an additional 2,294 shares during the last quarter. Western Wealth Management LLC purchased a new position in shares of First Solar in the first quarter worth about $267,000. Naviter Wealth LLC purchased a new position in shares of First Solar in the second quarter worth about $204,000. Janney Montgomery Scott LLC raised its stake in shares of First Solar by 1.6% in the second quarter. Janney Montgomery Scott LLC now owns 8,636 shares of the solar cell manufacturer’s stock worth $585,000 after purchasing an additional 133 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of First Solar by 14.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,449 shares of the solar cell manufacturer’s stock worth $959,000 after purchasing an additional 1,414 shares during the last quarter. 79.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FSLR has been the subject of several recent research reports. Barclays upgraded First Solar from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $89.00 to $162.00 in a research report on Tuesday, November 1st. JPMorgan Chase & Co. reduced their price target on First Solar from $157.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, October 20th. Guggenheim lifted their price target on First Solar from $200.00 to $233.00 in a research report on Monday, October 31st. Cowen lifted their price target on First Solar from $167.00 to $175.00 in a research report on Friday, October 28th. Finally, Piper Sandler lifted their price target on First Solar from $170.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, November 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $161.96.

First Solar Stock Performance

Shares of NASDAQ:FSLR opened at $166.60 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.09 and a quick ratio of 3.10. The business’s 50 day moving average price is $137.59 and its 200-day moving average price is $103.23. The firm has a market capitalization of $17.76 billion, a PE ratio of 189.32 and a beta of 1.26. First Solar, Inc. has a 1 year low of $59.60 and a 1 year high of $167.58.

First Solar (NASDAQ:FSLRGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The solar cell manufacturer reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.30). The firm had revenue of $629.00 million during the quarter, compared to analyst estimates of $747.97 million. First Solar had a return on equity of 1.61% and a net margin of 3.75%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 earnings per share. As a group, equities research analysts expect that First Solar, Inc. will post -0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Solar news, Director R Craig Kennedy sold 600 shares of the business’s stock in a transaction on Monday, October 17th. The stock was sold at an average price of $125.68, for a total transaction of $75,408.00. Following the transaction, the director now owns 18,888 shares of the company’s stock, valued at $2,373,843.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is currently owned by corporate insiders.

First Solar Profile

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First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.

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Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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