First Solar, Inc. $FSLR Shares Bought by Slow Capital Inc.

Slow Capital Inc. grew its position in First Solar, Inc. (NASDAQ:FSLR) by 94.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,124 shares of the solar cell manufacturer’s stock after buying an additional 7,340 shares during the quarter. Slow Capital Inc.’s holdings in First Solar were worth $2,649,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in FSLR. Pictet Asset Management Holding SA boosted its position in shares of First Solar by 29.3% in the first quarter. Pictet Asset Management Holding SA now owns 1,138,473 shares of the solar cell manufacturer’s stock worth $224,540,000 after buying an additional 258,204 shares during the period. Rakuten Investment Management Inc. purchased a new position in shares of First Solar during the second quarter valued at $4,019,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of First Solar by 7.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,535,836 shares of the solar cell manufacturer’s stock valued at $362,396,000 after buying an additional 100,694 shares in the last quarter. Jupiter Topco LLC acquired a new position in First Solar during the second quarter valued at $6,121,000. Finally, Handelsbanken Fonder AB raised its position in First Solar by 15.0% during the second quarter. Handelsbanken Fonder AB now owns 683,112 shares of the solar cell manufacturer’s stock valued at $161,187,000 after buying an additional 89,214 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FSLR. Wells Fargo & Company increased their price objective on First Solar from $300.00 to $313.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. HSBC raised First Solar from a “hold” rating to a “buy” rating in a research note on Friday, August 7th. Evercore reiterated a “positive” rating and issued a $218.00 target price on shares of First Solar in a report on Monday, August 17th. Roth Capital reiterated a “buy” rating and issued a $300.00 target price on shares of First Solar in a report on Friday, July 24th. Finally, Argus reissued a “buy” rating and issued a $275.00 price target on shares of First Solar in a research report on Wednesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $265.73.

Key First Solar News

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

• Positive Sentiment: BMO Capital issued a Buy rating on First Solar, providing a constructive analyst signal that may support investor confidence in the company’s long-term growth prospects. First Solar Gets a Buy from BMO Capital
• Positive Sentiment: Analysts and investors are focused on whether U.S. demand for domestically manufactured solar panels is strengthening. Firm domestic demand could benefit First Solar’s production utilization and revenue outlook. Is Domestic Panel Demand Firming for First Solar?
• Neutral Sentiment: First Solar is scheduled to report quarterly earnings, making the upcoming results, management guidance and commentary on demand key near-term catalysts. First Solar Projected to Announce Quarterly Earnings
• Neutral Sentiment: Investor attention has increased, with First Solar appearing among trending stocks. The heightened visibility could increase trading activity but does not itself change the company’s fundamentals. First Solar Is a Trending Stock
• Neutral Sentiment: Coverage is also highlighting First Solar’s substantial cash position, which may provide financial flexibility for expansion and help cushion periods of industry volatility. Should You Buy First Solar Stock For Its Cash?
• Negative Sentiment: Zacks reported that First Solar underperformed the broader market in the latest session, reflecting near-term selling pressure. First Solar Declines More Than the Market
• Negative Sentiment: Pre-earnings analysis says First Solar lacks the combination of earnings-estimate revisions and surprise indicators typically associated with a likely earnings beat. That raises the risk of a cautious reaction if results or guidance disappoint. First Solar Earnings Expected to Grow

First Solar Stock Performance

NASDAQ FSLR opened at $171.99 on Monday. First Solar, Inc. has a 1-year low of $168.60 and a 1-year high of $320.95. The company has a market capitalization of $18.48 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 0.47 and a beta of 1.80. The firm’s fifty day simple moving average is $192.86 and its 200-day simple moving average is $218.37.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $1.02. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. First Solar had a return on equity of 18.02% and a net margin of 32.47%. First Solar’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period last year, the company earned $3.18 earnings per share. As a group, analysts predict that First Solar, Inc. will post 17.63 EPS for the current year.

Insider Transactions at First Solar

In other news, insider Michael Koralewski sold 7,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $221.51, for a total transaction of $1,550,570.00. Following the completion of the sale, the insider directly owned 7,642 shares of the company’s stock, valued at $1,692,779.42. This trade represents a 47.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Markus Gloeckler sold 800 shares of First Solar stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $174.00, for a total value of $139,200.00. Following the sale, the chief technology officer owned 5,042 shares of the company’s stock, valued at approximately $877,308. This represents a 13.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 16,681 shares of company stock valued at $3,756,286 over the last 90 days. Company insiders own 0.39% of the company’s stock.

About First Solar

First Solar, Inc is a vertically integrated solar technology and manufacturing company that designs, manufactures and sells photovoltaic (PV) solar modules. Its modules use advanced thin-film semiconductor technology based on cadmium telluride (CdTe), rather than the crystalline-silicon technology used by most solar manufacturers. The company serves utility-scale solar developers, commercial and industrial customers, and other large-scale energy users.

Founded in 1999 and headquartered in Tempe, Arizona, First Solar operates research and development, manufacturing and recycling facilities in the United States and internationally.