Erste Asset Management GmbH Sells 85,324 Shares of First Solar, Inc. $FSLR

Erste Asset Management GmbH reduced its stake in First Solar, Inc. (NASDAQ:FSLR) by 25.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,858 shares of the solar cell manufacturer’s stock after selling 85,324 shares during the period. Erste Asset Management GmbH’s holdings in First Solar were worth $68,372,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in First Solar by 3.5% in the third quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer’s stock worth $3,026,108,000 after buying an additional 464,130 shares in the last quarter. Geode Capital Management LLC raised its stake in First Solar by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 2,919,991 shares of the solar cell manufacturer’s stock worth $761,396,000 after buying an additional 24,206 shares in the last quarter. Viking Global Investors LP raised its stake in First Solar by 60.6% in the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after buying an additional 854,919 shares in the last quarter. Amundi raised its stake in First Solar by 38.6% in the third quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer’s stock worth $459,917,000 after buying an additional 564,032 shares in the last quarter. Finally, Norges Bank bought a new position in First Solar in the fourth quarter worth about $392,040,000. 92.08% of the stock is owned by institutional investors.

Insider Activity at First Solar

In related news, CFO Alexander R. Bradley sold 498 shares of the firm’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 $107,383.74. Following the completion of the sale, the chief financial officer owned 30,712 shares of the company’s stock, valued at $6,622,428.56. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Georges Antoun sold 566 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $122,046.58. Following the completion of the sale, the insider owned 19,918 shares in the company, valued at $4,294,918.34. This represents a 2.76% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 61,426 shares of company stock valued at $13,802,836 over the last ninety days. Corporate insiders own 0.39% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $279.01 on Monday. First Solar, Inc. has a fifty-two week low of $135.50 and a fifty-two week high of $320.95. The company has a 50 day simple moving average of $224.60 and a two-hundred day simple moving average of $233.01. The company has a market capitalization of $29.98 billion, a price-to-earnings ratio of 18.02, a P/E/G ratio of 0.62 and a beta of 1.70. 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 (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, beating the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm earned $1.95 earnings per share. Analysts expect that First Solar, Inc. will post 17.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Zacks Research raised shares of First Solar from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Argus increased their price target on shares of First Solar from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Wolfe Research downgraded shares of First Solar from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. UBS Group decreased their price target on shares of First Solar from $300.00 to $290.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. decreased their price target on shares of First Solar from $303.00 to $256.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $247.40.

About First Solar

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.