KLP Kapitalforvaltning AS Invests $14.47 Million in First Solar, Inc. (NASDAQ:FSLR)

KLP Kapitalforvaltning AS acquired a new position in First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 82,100 shares of the solar cell manufacturer’s stock, valued at approximately $14,469,000.

Several other hedge funds have also recently made changes to their positions in the business. Clear Harbor Asset Management LLC raised its position in shares of First Solar by 0.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock worth $1,623,000 after acquiring an additional 55 shares in the last quarter. Doliver Advisors LP grew its stake in shares of First Solar by 1.2% in the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock valued at $831,000 after buying an additional 56 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after buying an additional 63 shares during the period. Independent Advisor Alliance grew its stake in shares of First Solar by 3.1% in the 4th quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer’s stock valued at $368,000 after buying an additional 63 shares during the period. Finally, Mutual Advisors LLC grew its stake in shares of First Solar by 5.3% in the 4th quarter. Mutual Advisors LLC now owns 1,463 shares of the solar cell manufacturer’s stock valued at $279,000 after buying an additional 73 shares during the period. 92.08% of the stock is owned by institutional investors.

First Solar Price Performance

First Solar stock opened at $131.32 on Monday. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The stock has a market cap of $14.06 billion, a P/E ratio of 11.31, a P/E/G ratio of 0.19 and a beta of 1.52. The company’s 50 day moving average price is $156.26 and its two-hundred day moving average price is $187.86. First Solar, Inc. has a 52 week low of $124.96 and a 52 week high of $306.77.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The company had revenue of $1.51 billion during 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%. On average, equities analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Buying and Selling

In other First Solar news, CTO Markus Gloeckler sold 380 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $50,825.00. Following the sale, the chief technology officer now owns 17,594 shares of the company’s stock, valued at $2,353,197.50. The trade was a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark R. Widmar sold 1,966 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $262,952.50. Following the sale, the chief executive officer now directly owns 111,890 shares in the company, valued at $14,965,287.50. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,311 shares of company stock valued at $4,767,158. 0.58% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FSLR. BMO Capital Markets restated 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. Royal Bank of Canada reduced 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. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Citigroup reduced their target price on First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, Redburn Atlantic assumed coverage on First Solar in a research note on Monday, March 3rd. They set a “neutral” rating for the company. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average target price of $262.08.

About First Solar

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.