Munich Reinsurance Co Stock Corp in Munich Has $2.29 Million Position in First Solar, Inc. $FSLR

Munich Reinsurance Co Stock Corp in Munich reduced its stake in shares of First Solar, Inc. (NASDAQ:FSLRFree Report) by 39.5% during the 1st quarter, HoldingsChannel reports. The fund owned 11,621 shares of the solar cell manufacturer’s stock after selling 7,575 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in First Solar were worth $2,292,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FSLR. Swedbank AB raised its holdings in shares of First Solar by 15.1% during the first quarter. Swedbank AB now owns 195,401 shares of the solar cell manufacturer’s stock worth $38,545,000 after acquiring an additional 25,563 shares in the last quarter. Collaborative Fund Advisors LLC purchased a new position in First Solar in the first quarter valued at about $696,000. Ascentis Independent Advisors acquired a new position in First Solar in the 1st quarter worth about $80,000. Stephens Inc. AR increased its position in First Solar by 8.7% in the 1st quarter. Stephens Inc. AR now owns 34,841 shares of the solar cell manufacturer’s stock worth $6,912,000 after purchasing an additional 2,786 shares during the last quarter. Finally, Praxis Investment Management Inc. raised its stake in shares of First Solar by 20.0% during the 1st quarter. Praxis Investment Management Inc. now owns 8,075 shares of the solar cell manufacturer’s stock worth $1,593,000 after purchasing an additional 1,345 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FSLR shares. Weiss Ratings raised First Solar from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. Morgan Stanley raised their price objective on shares of First Solar from $230.00 to $245.00 and gave the company an “overweight” rating in a research report on Thursday. Zacks Research upgraded shares of First Solar from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. BMO Capital Markets decreased their target price on shares of First Solar from $252.00 to $237.00 and set a “market perform” rating for the company in a research report on Monday, April 20th. Finally, HSBC increased their price target on shares of First Solar from $211.00 to $231.00 and gave the stock a “hold” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average price target of $253.60.

Get Our Latest Stock Analysis on FSLR

First Solar News Roundup

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

Insider Activity at First Solar

In other news, CFO Alexander R. Bradley sold 498 shares of First Solar stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $107,383.74. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Caroline Stockdale sold 10,628 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $275.60, for a total transaction of $2,929,076.80. Following the completion of the sale, the insider owned 23,792 shares of the company’s stock, valued at $6,557,075.20. The trade was a 30.88% 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. Over the last 90 days, insiders have sold 32,466 shares of company stock valued at $8,014,105. 0.39% of the stock is owned by company insiders.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $228.50 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. The firm has a market cap of $24.55 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 0.50 and a beta of 1.73. The business’s 50-day simple moving average is $250.17 and its 200-day simple moving average is $231.00. First Solar, Inc. has a 52 week low of $159.85 and a 52 week high of $320.95.

First Solar (NASDAQ:FSLRGet Free Report) last issued its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the business earned $1.95 EPS. The firm’s revenue was up 23.6% compared to the same quarter last year. As a group, equities research analysts expect that First Solar, Inc. will post 17.61 earnings per share for the current fiscal year.

First Solar Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding FSLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Solar, Inc. (NASDAQ:FSLRFree Report).

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

Receive News & Ratings for First Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Solar and related companies with MarketBeat.com's FREE daily email newsletter.