First Solar, Inc. $FSLR Stake Cut by Munich Reinsurance Co Stock Corp in Munich

Munich Reinsurance Co Stock Corp in Munich lessened its holdings in First Solar, Inc. (NASDAQ:FSLRFree Report) by 39.5% 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 11,621 shares of the solar cell manufacturer’s stock after selling 7,575 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in First Solar were worth $2,292,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FSLR. Aventura Private Wealth LLC bought a new stake in shares of First Solar during the fourth quarter valued at approximately $25,000. Strategic Wealth Investment Group LLC acquired a new stake in First Solar in the 2nd quarter valued at approximately $26,000. Commonwealth Retirement Investments LLC acquired a new stake in First Solar in the 4th quarter valued at approximately $26,000. Reflection Asset Management bought a new stake in First Solar during the 4th quarter valued at $26,000. Finally, Larson Financial Group LLC raised its stake in First Solar by 117.0% during the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

FSLR stock opened at $228.50 on Friday. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. First Solar, Inc. has a one year low of $159.85 and a one year high of $320.95. The firm has a market capitalization of $24.55 billion, a PE ratio of 14.76, a P/E/G ratio of 0.50 and a beta of 1.73. The firm has a 50-day moving average of $250.17 and a two-hundred day moving average of $231.00.

First Solar (NASDAQ:FSLRGet Free Report) last released its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The firm’s revenue was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.95 earnings per share. On average, analysts forecast that First Solar, Inc. will post 17.61 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FSLR shares. Guggenheim boosted their target price on First Solar from $269.00 to $279.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. UBS Group lifted their price target on First Solar from $290.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Mizuho boosted their price objective on First Solar from $243.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, June 12th. Evercore upped their price objective on First Solar from $212.00 to $219.00 in a report on Monday, May 4th. Finally, Jefferies Financial Group decreased their target price on First Solar from $205.00 to $187.00 and set a “hold” rating for the company in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $253.60.

Read Our Latest Stock Analysis on First Solar

First Solar News Summary

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

Insider Buying and Selling

In other news, CTO Markus Gloeckler sold 420 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total value of $90,564.60. Following the completion of the sale, the chief technology officer owned 10,896 shares of the company’s stock, valued at $2,349,504.48. This trade represents a 3.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mark R. Widmar sold 4,815 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $247.43, for a total value of $1,191,375.45. Following the transaction, the chief executive officer directly owned 89,033 shares in the company, valued at $22,029,435.19. The trade was a 5.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 32,466 shares of company stock valued at $8,014,105. 0.39% of the stock is currently owned by company insiders.

About First Solar

(Free Report)

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.

See Also

Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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