Swiss National Bank Has $50.65 Million Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Swiss National Bank lowered its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 287,400 shares of the solar cell manufacturer's stock after selling 14,400 shares during the quarter. Swiss National Bank owned approximately 0.27% of First Solar worth $50,651,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of First Solar by 75.8% during the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer's stock worth $523,166,000 after purchasing an additional 904,498 shares during the period. Amundi grew its stake in shares of First Solar by 31.0% during the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock worth $336,871,000 after purchasing an additional 426,797 shares during the period. Merewether Investment Management LP grew its stake in shares of First Solar by 993.4% during the third quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer's stock worth $80,553,000 after purchasing an additional 293,400 shares during the period. Erste Asset Management GmbH acquired a new stake in shares of First Solar during the third quarter worth $67,652,000. Finally, Handelsbanken Fonder AB grew its stake in shares of First Solar by 110.4% during the fourth quarter. Handelsbanken Fonder AB now owns 375,010 shares of the solar cell manufacturer's stock worth $66,092,000 after purchasing an additional 196,744 shares during the period. Institutional investors own 92.08% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Piper Sandler decreased their target price on First Solar from $250.00 to $230.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Redburn Atlantic assumed coverage on First Solar in a research note on Monday, March 3rd. They issued a "neutral" rating for the company. Royal Bank of Canada decreased their target price on First Solar from $280.00 to $251.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. BMO Capital Markets reissued an "outperform" rating and issued a $230.00 target price (down from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. Finally, Barclays decreased their target price on First Solar from $273.00 to $236.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Four 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $262.08.

Insider Transactions at First Solar

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the sale, the insider now owns 3,549 shares of the company's stock, valued at $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark R. Widmar sold 1,272 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $132.96, for a total value of $169,125.12. Following the sale, the chief executive officer now directly owns 109,000 shares in the company, valued at $14,492,640. This represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,311 shares of company stock worth $4,767,158. Company insiders own 0.58% of the company's stock.

First Solar Stock Performance

NASDAQ:FSLR traded up $2.00 on Wednesday, hitting $129.34. The company's stock had a trading volume of 2,048,659 shares, compared to its average volume of 2,554,292. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The stock has a fifty day moving average of $159.91 and a two-hundred day moving average of $189.73. The firm has a market capitalization of $13.85 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a one year low of $124.96 and a one year high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts' consensus estimates of $4.81 by ($1.16). The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current 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.