Swedbank AB Decreases Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Swedbank AB lessened its stake in First Solar, Inc. (NASDAQ:FSLR) by 10.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,054 shares of the solar cell manufacturer’s stock after selling 12,450 shares during the period. Swedbank AB owned 0.10% of First Solar worth $27,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in FSLR. AlphaMark Advisors LLC acquired a new stake in shares of First Solar in the 3rd quarter worth $25,000. Strengthening Families & Communities LLC acquired a new stake in First Solar in the 3rd quarter worth approximately $25,000. Kennebec Savings Bank purchased a new stake in First Solar during the 3rd quarter worth approximately $29,000. Atlas Capital Advisors LLC increased its stake in First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of First Solar in the second quarter worth $36,000. 92.08% of the stock is currently owned by institutional investors.

First Solar Stock Performance

Shares of First Solar stock opened at $192.82 on Tuesday. The firm has a market cap of $20.64 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 0.33 and a beta of 1.48. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77. The business’s fifty day simple moving average is $211.84 and its 200-day simple moving average is $225.80.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company earned $2.50 EPS. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities analysts forecast that First Solar, Inc. will post 13.15 earnings per share for the current year.

Analysts Set New Price Targets

FSLR has been the topic of a number of research analyst reports. Morgan Stanley dropped their price objective on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. The Goldman Sachs Group cut their price objective on First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. DZ Bank raised First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price for the company in a report on Thursday, August 1st. Piper Sandler reduced their price target on shares of First Solar from $245.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Jefferies Financial Group cut their price objective on shares of First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average target price of $279.04.

First Solar Profile

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.