Handelsinvest Investeringsforvaltning Acquires 342 Shares of First Solar, Inc. (NASDAQ:FSLR)

Handelsinvest Investeringsforvaltning grew its position in First Solar, Inc. (NASDAQ:FSLR) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,198 shares of the solar cell manufacturer’s stock after purchasing an additional 342 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in First Solar were worth $1,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of FSLR. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of First Solar in the first quarter worth about $25,000. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of First Solar in the 4th quarter valued at approximately $27,000. Baystate Wealth Management LLC purchased a new position in shares of First Solar in the 4th quarter valued at approximately $29,000. Riverview Trust Co purchased a new position in First Solar during the 1st quarter worth approximately $32,000. Finally, Headinvest LLC purchased a new position in First Solar during the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insider Buying and Selling

In other news, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the transaction, the chief financial officer now directly owns 30,652 shares in the company, valued at approximately $8,419,797.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the transaction, the chief financial officer now directly owns 30,652 shares in the company, valued at approximately $8,419,797.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Markus Gloeckler sold 1,937 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $175.00, for a total value of $338,975.00. Following the transaction, the chief technology officer now directly owns 12,536 shares in the company, valued at $2,193,800. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,490 shares of company stock worth $13,301,803. 0.58% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FSLR. Mizuho reaffirmed a “neutral” rating and set a $274.00 price objective (up previously from $209.00) on shares of First Solar in a research note on Thursday, May 30th. Robert W. Baird dropped their price objective on shares of First Solar from $344.00 to $307.00 and set an “outperform” rating on the stock in a research note on Tuesday. BMO Capital Markets raised their price objective on shares of First Solar from $224.00 to $311.00 and gave the stock an “outperform” rating in a research note on Monday, June 10th. Oppenheimer lifted their price target on shares of First Solar from $271.00 to $325.00 and gave the company an “outperform” rating in a research note on Wednesday, June 12th. Finally, Roth Mkm reissued a “buy” rating and issued a $320.00 price target (up previously from $230.00) on shares of First Solar in a research note on Friday, May 31st. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $267.12.

First Solar Stock Up 0.8 %

First Solar stock opened at $218.38 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41. The firm has a market capitalization of $23.38 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 0.30 and a beta of 1.44. First Solar, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $306.77. The stock’s fifty day moving average is $234.23 and its two-hundred day moving average is $186.29.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The business had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. During the same quarter last year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 44.8% compared to the same quarter last year. Analysts predict that First Solar, Inc. will post 13.58 EPS for the current fiscal year.

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.