Nykredit A S Invests $14.78 Million in First Solar, Inc. $FSLR

Nykredit A S bought a new stake in First Solar, Inc. (NASDAQ:FSLR) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 62,616 shares of the solar cell manufacturer’s stock, valued at approximately $14,775,000. Nykredit A S owned approximately 0.06% of First Solar as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of First Solar during the second quarter valued at approximately $3,310,298,000. Hill City Capital LP acquired a new position in shares of First Solar during the second quarter worth $620,133,555. Norges Bank purchased a new position in shares of First Solar in the fourth quarter valued at $392,040,000. Deutsche Bank AG acquired a new stake in First Solar during the 2nd quarter valued at $212,626,000. Finally, Viking Global Investors LP grew its holdings in First Solar by 60.6% during the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock valued at $375,122,000 after purchasing an additional 854,919 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Stock Performance

FSLR opened at $204.45 on Friday. The company has a market capitalization of $21.97 billion, a P/E ratio of 12.60, a PEG ratio of 0.55 and a beta of 1.74. The company has a 50-day moving average of $218.77 and a 200-day moving average of $222.64. First Solar, Inc. has a 1-year low of $182.99 and a 1-year high of $320.95.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $1.02. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. First Solar had a return on equity of 18.02% and a net margin of 32.47%.The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period last year, the firm earned $3.18 earnings per share. As a group, sell-side analysts expect that First Solar, Inc. will post 17.77 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In related news, CTO Markus Gloeckler sold 3,425 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $218.95, for a total transaction of $749,903.75. Following the transaction, the chief technology officer directly owned 7,471 shares in the company, valued at $1,635,775.45. This trade represents a 31.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Samantha L. Sloan sold 127 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $222.95, for a total transaction of $28,314.65. Following the sale, the executive vice president owned 2,018 shares of the company’s stock, valued at approximately $449,913.10. The trade was a 5.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 15,881 shares of company stock worth $3,617,086 in the last quarter. Insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FSLR shares. Weiss Ratings lowered shares of First Solar from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. Evercore reaffirmed a “positive” rating and set a $218.00 target price on shares of First Solar in a research report on Monday, August 17th. Sanford C. Bernstein cut their price target on First Solar from $217.00 to $197.00 and set an “underperform” rating on the stock in a research note on Friday, July 31st. Guggenheim increased their price target on First Solar from $279.00 to $282.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Finally, HSBC upgraded First Solar from a “hold” rating to a “buy” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.27.

First Solar Company Profile

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.