First Solar, Inc. $FSLR Shares Purchased by ABN Amro Investment Solutions

ABN Amro Investment Solutions increased its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 3.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 93,691 shares of the solar cell manufacturer’s stock after buying an additional 3,142 shares during the quarter. ABN Amro Investment Solutions owned about 0.09% of First Solar worth $18,481,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in FSLR. Norges Bank acquired a new position in shares of First Solar in the 4th quarter valued at $392,040,000. Viking Global Investors LP increased its position in shares of First Solar by 60.6% during the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after purchasing an additional 854,919 shares during the last quarter. Polar Capital Holdings Plc purchased a new stake in First Solar in the 4th quarter valued at about $200,109,000. Lightrock Netherlands B.V. raised its holdings in First Solar by 2,663.8% in the 4th quarter. Lightrock Netherlands B.V. now owns 666,307 shares of the solar cell manufacturer’s stock valued at $174,059,000 after buying an additional 642,199 shares during the period. Finally, Amundi lifted its position in First Solar by 38.6% in the third quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer’s stock valued at $459,917,000 after buying an additional 564,032 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Jason E. Dymbort sold 409 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $88,192.67. Following the completion of the sale, the general counsel owned 10,409 shares in the company, valued at approximately $2,244,492.67. The trade was a 3.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mark R. Widmar sold 4,815 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $247.43, for a total transaction of $1,191,375.45. Following the completion of the transaction, the chief executive officer directly owned 89,033 shares in the company, valued at $22,029,435.19. This trade represents a 5.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 31,893 shares of company stock valued at $7,893,775 over the last 90 days. Insiders own 0.39% of the company’s stock.

First Solar Stock Performance

Shares of First Solar stock opened at $206.05 on Wednesday. The business has a 50-day simple moving average of $250.23 and a 200-day simple moving average of $227.94. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. First Solar, Inc. has a one year low of $171.99 and a one year high of $320.95. The company has a market cap of $22.14 billion, a PE ratio of 13.31, a P/E/G ratio of 0.46 and a beta of 1.73.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The firm’s quarterly revenue was up 23.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.95 earnings per share. On average, equities research analysts forecast that First Solar, Inc. will post 17.54 EPS for the current fiscal year.

Analysts Set New Price Targets

FSLR has been the topic of a number of research analyst reports. UBS Group boosted their price target on shares of First Solar from $290.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Guggenheim boosted their target price on First Solar from $269.00 to $279.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Barclays lifted their price objective on First Solar from $213.00 to $279.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. HSBC increased their target price on First Solar from $211.00 to $231.00 and gave the stock a “hold” rating in a research note on Tuesday, May 5th. Finally, Wells Fargo & Company boosted their price target on shares of First Solar from $255.00 to $320.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.10.

More First Solar News

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: First Solar continues to draw attention from investors and analysts because of its growth in U.S. solar manufacturing and exposure to domestic solar demand. Article Title
• Neutral Sentiment: Several law firms issued reminder notices about the pending securities class action and the August 24 deadline for investors to seek lead-plaintiff status. Article Title
• Neutral Sentiment: Pomerantz announced that a class action has been filed against First Solar and certain officers, alleging securities-law violations tied to the class period. Article Title
• Negative Sentiment: The lawsuit and repeated legal notices highlight alleged misrepresentations about module production underutilization and the challenges of onshoring operations, which can weigh on investor sentiment and raise litigation risk. Article Title

First Solar Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.