Alaska Permanent Fund Corp Invests $982,000 in First Solar, Inc. (NASDAQ:FSLR)

Alaska Permanent Fund Corp purchased a new position in First Solar, Inc. (NASDAQ:FSLRFree Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,815 shares of the solar cell manufacturer’s stock, valued at approximately $982,000.

Several other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC increased its stake in shares of First Solar by 13.2% in the 1st quarter. GAMMA Investing LLC now owns 1,096 shares of the solar cell manufacturer’s stock worth $185,000 after acquiring an additional 128 shares in the last quarter. Compass Wealth Management LLC increased its stake in shares of First Solar by 70.3% in the 1st quarter. Compass Wealth Management LLC now owns 2,120 shares of the solar cell manufacturer’s stock worth $358,000 after acquiring an additional 875 shares in the last quarter. Leibman Financial Services Inc. increased its stake in shares of First Solar by 13.8% in the 1st quarter. Leibman Financial Services Inc. now owns 18,184 shares of the solar cell manufacturer’s stock worth $3,069,000 after acquiring an additional 2,206 shares in the last quarter. Symmetry Partners LLC bought a new stake in First Solar during the 1st quarter valued at about $206,000. Finally, Nomura Holdings Inc. bought a new stake in First Solar during the 4th quarter valued at about $2,099,000. 92.08% of the stock is currently owned by institutional investors.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $258.87 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77. The company has a market capitalization of $27.71 billion, a P/E ratio of 27.14, a P/E/G ratio of 0.34 and a beta of 1.48. The firm’s 50 day simple moving average is $225.27 and its two-hundred day simple moving average is $181.40.

First Solar (NASDAQ:FSLRGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The business had revenue of $794.10 million for the quarter, compared to the consensus estimate of $718.19 million. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The company’s revenue for the quarter was up 44.8% on a year-over-year basis. Research analysts expect that First Solar, Inc. will post 13.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FSLR has been the subject of a number of analyst reports. Piper Sandler raised their price objective on shares of First Solar from $195.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. JPMorgan Chase & Co. raised their price objective on shares of First Solar from $240.00 to $262.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Susquehanna restated a “positive” rating and set a $258.00 price objective on shares of First Solar in a research note on Friday, April 5th. The Goldman Sachs Group raised their price objective on shares of First Solar from $268.00 to $302.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Finally, Evercore ISI upgraded shares of First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price objective for the company in a research note on Tuesday, April 23rd. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $265.72.

Check Out Our Latest Analysis on First Solar

Insider Buying and Selling

In other First Solar news, insider Georges Antoun sold 2,400 shares of First Solar stock in a transaction on Monday, April 1st. The shares were sold at an average price of $169.72, for a total value of $407,328.00. Following the sale, the insider now directly owns 39,812 shares in the company, valued at approximately $6,756,892.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Georges Antoun sold 2,400 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $169.72, for a total transaction of $407,328.00. Following the completion of the transaction, the insider now owns 39,812 shares in the company, valued at $6,756,892.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Alexander R. Bradley sold 16,051 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the completion of the sale, the chief financial officer now owns 30,652 shares in the company, valued at $8,419,797.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,269 shares of company stock worth $13,287,671. 0.58% of the stock is owned by insiders.

First Solar Company Profile

(Free Report)

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.

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

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