Handelsbanken Fonder AB Has $44.47 Million Holdings in First Solar, Inc. (NASDAQ:FSLR)

Handelsbanken Fonder AB increased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 114.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 178,266 shares of the solar cell manufacturer’s stock after buying an additional 95,167 shares during the period. Handelsbanken Fonder AB owned 0.17% of First Solar worth $44,467,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of First Solar by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock worth $2,068,991,000 after purchasing an additional 105,236 shares during the last quarter. Electron Capital Partners LLC raised its stake in First Solar by 81,947.0% in the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock valued at $1,729,223,000 after buying an additional 7,660,409 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of First Solar by 11.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock valued at $472,963,000 after buying an additional 279,719 shares during the last quarter. Northern Trust Corp boosted its stake in shares of First Solar by 1.7% during the 4th quarter. Northern Trust Corp now owns 1,020,527 shares of the solar cell manufacturer’s stock worth $175,816,000 after acquiring an additional 16,756 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of First Solar by 8.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 795,393 shares of the solar cell manufacturer’s stock worth $179,478,000 after acquiring an additional 64,265 shares during the last quarter. 92.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

FSLR has been the subject of several research reports. William Blair started coverage on First Solar in a report on Thursday, August 29th. They set a “market perform” rating for the company. Barclays lifted their target price on shares of First Solar from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. DZ Bank raised shares of First Solar from a “hold” rating to a “buy” rating and set a $280.00 price target on the stock in a report on Thursday, August 1st. BMO Capital Markets reduced their price objective on First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Finally, UBS Group increased their target price on First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $284.12.

First Solar Price Performance

Shares of FSLR traded down $3.99 during midday trading on Friday, hitting $231.13. The company’s stock had a trading volume of 1,735,587 shares, compared to its average volume of 2,369,776. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. First Solar, Inc. has a one year low of $129.21 and a one year high of $306.77. The stock has a market capitalization of $24.74 billion, a price-to-earnings ratio of 24.23, a price-to-earnings-growth ratio of 0.42 and a beta of 1.44. The company’s fifty day simple moving average is $227.18 and its two-hundred day simple moving average is $219.26.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $939.71 million. During the same quarter in the previous year, the business posted $1.85 earnings per share. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. As a group, equities analysts expect that First Solar, Inc. will post 13.62 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In related news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the sale, the chief accounting officer now owns 500 shares of the company’s stock, valued at $108,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Byron Michael Jeffers sold 1,766 shares of First Solar stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the transaction, the chief accounting officer now owns 500 shares in the company, valued at approximately $108,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,885 shares of company stock worth $2,405,757 over the last quarter. Corporate insiders own 0.58% of the company’s stock.

About First Solar

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.