Fideuram Intesa Sanpaolo Private Banking S.P.A. Makes New Investment in First Solar, Inc. $FSLR

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in First Solar, Inc. (NASDAQ:FSLR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 83,346 shares of the solar cell manufacturer’s stock, valued at approximately $21,772,000. First Solar comprises about 0.8% of Fideuram Intesa Sanpaolo Private Banking S.P.A.’s investment portfolio, making the stock its 27th largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Linden Thomas Advisory Services LLC boosted its position in First Solar by 1.7% in the third quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer’s stock worth $504,000 after purchasing an additional 39 shares during the last quarter. Apollon Wealth Management LLC boosted its position in First Solar by 1.2% in the fourth quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer’s stock worth $942,000 after purchasing an additional 44 shares during the last quarter. Burford Brothers Inc. boosted its position in First Solar by 0.3% in the fourth quarter. Burford Brothers Inc. now owns 19,080 shares of the solar cell manufacturer’s stock worth $4,984,000 after purchasing an additional 48 shares during the last quarter. Cromwell Holdings LLC boosted its position in First Solar by 15.8% in the fourth quarter. Cromwell Holdings LLC now owns 367 shares of the solar cell manufacturer’s stock worth $96,000 after purchasing an additional 50 shares during the last quarter. Finally, Rathbones Group PLC boosted its position in First Solar by 1.0% in the third quarter. Rathbones Group PLC now owns 4,930 shares of the solar cell manufacturer’s stock worth $1,087,000 after purchasing an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Down 5.1%

Shares of NASDAQ FSLR opened at $221.71 on Wednesday. First Solar, Inc. has a one year low of $135.50 and a one year high of $285.99. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15. The business’s fifty day moving average price is $202.02 and its 200-day moving average price is $231.11. The stock has a market capitalization of $23.82 billion, a PE ratio of 14.32, a P/E/G ratio of 0.51 and a beta of 1.57.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS 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 firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the firm earned $1.95 EPS. The business’s revenue for the quarter was up 23.6% compared to the same quarter last year. On average, equities research analysts anticipate that First Solar, Inc. will post 17.64 EPS for the current year.

Insider Activity

In other news, CFO Alexander R. Bradley sold 14,106 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $199.97, for a total transaction of $2,820,776.82. Following the transaction, the chief financial officer owned 30,000 shares of the company’s stock, valued at $5,999,100. This represents a 31.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kuntal Kumar Verma sold 3,426 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $195.93, for a total value of $671,256.18. Following the sale, the insider owned 8,334 shares in the company, valued at approximately $1,632,880.62. The trade was a 29.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 92,430 shares of company stock worth $18,670,055. 0.39% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FSLR. Jefferies Financial Group cut their price objective on First Solar from $205.00 to $187.00 and set a “hold” rating on the stock in a research report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft cut First Solar from a “buy” rating to a “hold” rating and cut their price objective for the stock from $300.00 to $245.00 in a research report on Wednesday, February 25th. Barclays cut their price objective on First Solar from $228.00 to $213.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. Susquehanna cut their price objective on First Solar from $280.00 to $250.00 and set a “positive” rating on the stock in a research report on Thursday, April 9th. Finally, Guggenheim dropped their price target on First Solar from $312.00 to $269.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $247.03.

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.