Securian Asset Management Inc. Has $1.37 Million Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Securian Asset Management Inc. lowered its stake in First Solar, Inc. (NASDAQ:FSLR) by 1.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 6,090 shares of the solar cell manufacturer’s stock after selling 100 shares during the period. Securian Asset Management Inc.’s holdings in First Solar were worth $1,373,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of FSLR. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of First Solar during the first quarter worth $25,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in First Solar in the 4th quarter worth about $27,000. Baystate Wealth Management LLC acquired a new stake in First Solar in the 4th quarter worth about $29,000. Riverview Trust Co bought a new stake in First Solar in the 1st quarter valued at about $32,000. Finally, Rakuten Securities Inc. acquired a new position in shares of First Solar during the 4th quarter worth approximately $34,000. 92.08% of the stock is owned by institutional investors.

First Solar Trading Up 2.9 %

Shares of First Solar stock traded up $6.06 on Monday, hitting $217.86. 1,194,939 shares of the company’s stock traded hands, compared to its average volume of 2,508,479. The company has a market capitalization of $23.32 billion, a price-to-earnings ratio of 22.20, a price-to-earnings-growth ratio of 0.37 and a beta of 1.44. The company has a fifty day moving average of $238.42 and a two-hundred day moving average of $197.39. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.86. First Solar, Inc. has a one year low of $129.21 and a one year high of $306.77.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. First Solar had a net margin of 31.98% and a return on equity of 17.73%. First Solar’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.85 EPS. As a group, sell-side analysts expect that First Solar, Inc. will post 13.53 earnings per share for the current year.

Insider Activity at First Solar

In other news, insider Caroline Stockdale sold 12,406 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $205.00, for a total transaction of $2,543,230.00. Following the transaction, the insider now directly owns 22,025 shares of the company’s stock, valued at $4,515,125. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Caroline Stockdale sold 12,406 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $205.00, for a total transaction of $2,543,230.00. Following the completion of the sale, the insider now directly owns 22,025 shares of the company’s stock, valued at $4,515,125. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the completion of the transaction, the chief financial officer now directly owns 30,652 shares in the company, valued at approximately $8,419,797.88. The disclosure for this sale can be found here. Insiders sold 47,754 shares of company stock valued at $11,926,437 in the last three months. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FSLR shares. Guggenheim cut their price target on First Solar from $359.00 to $356.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Robert W. Baird reduced their target price on First Solar from $344.00 to $307.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. DZ Bank upgraded First Solar from a “hold” rating to a “buy” rating and set a $280.00 price target on the stock in a research report on Thursday, August 1st. Evercore ISI raised 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 report on Tuesday, April 23rd. Finally, Morgan Stanley raised their target price on shares of First Solar from $248.00 to $331.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. Four research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $275.58.

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.