Skandinaviska Enskilda Banken AB publ Sells 35,242 Shares of First Solar, Inc. (NASDAQ:FSLR)

Skandinaviska Enskilda Banken AB publ lowered its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 39.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,441 shares of the solar cell manufacturer’s stock after selling 35,242 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in First Solar were worth $9,510,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in FSLR. Strengthening Families & Communities LLC bought a new stake in shares of First Solar during the 3rd quarter worth approximately $25,000. Larson Financial Group LLC raised its stake in shares of First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after purchasing an additional 107 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares in the last quarter. Crews Bank & Trust acquired a new position in shares of First Solar during the 4th quarter worth approximately $53,000. Finally, Hudson Edge Investment Partners Inc. acquired a new position in shares of First Solar during the 4th quarter worth approximately $53,000. Institutional investors own 92.08% of the company’s stock.

Insider Activity at First Solar

In other news, insider Kuntal Kumar Verma sold 419 shares of First Solar stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $55,710.24. Following the sale, the insider now directly owns 4,695 shares of the company’s stock, valued at approximately $624,247.20. This trade represents a 8.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of First Solar stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the sale, the chief executive officer now directly owns 103,403 shares in the company, valued at $14,589,129.27. The trade was a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,739 shares of company stock valued at $4,289,403 over the last ninety days. 0.58% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Morgan Stanley decreased their target price on First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Roth Mkm reissued a “buy” rating and set a $280.00 target price on shares of First Solar in a report on Wednesday, February 26th. BMO Capital Markets reissued an “outperform” rating and set a $230.00 target price (down from $260.00) on shares of First Solar in a report on Wednesday, February 26th. Finally, Royal Bank of Canada decreased their target price on First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Stock Performance

NASDAQ:FSLR opened at $132.51 on Friday. The stock’s 50-day simple moving average is $162.48 and its 200 day simple moving average is $191.64. The firm has a market capitalization of $14.19 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a twelve month low of $124.96 and a twelve month high of $306.77.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($1.16). The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. On average, analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

First Solar Company 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.