KBC Group NV Reduces Stock Position in First Solar, Inc. $FSLR

KBC Group NV trimmed its holdings in First Solar, Inc. (NASDAQ:FSLR) by 8.6% during the first quarter, HoldingsChannel.com reports. The firm owned 58,522 shares of the solar cell manufacturer’s stock after selling 5,508 shares during the period. KBC Group NV’s holdings in First Solar were worth $11,545,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FSLR. Woodline Partners LP increased its stake in shares of First Solar by 40.7% in the first quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock worth $1,143,000 after buying an additional 2,615 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in First Solar by 50.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 516 shares of the solar cell manufacturer’s stock valued at $85,000 after acquiring an additional 174 shares during the last quarter. Brown Advisory Inc. boosted its stake in First Solar by 84.3% during the 2nd quarter. Brown Advisory Inc. now owns 4,529 shares of the solar cell manufacturer’s stock valued at $750,000 after acquiring an additional 2,072 shares during the last quarter. Cerity Partners LLC acquired a new position in First Solar during the 2nd quarter worth $494,000. Finally, AXA S.A. grew its holdings in First Solar by 6.3% during the 2nd quarter. AXA S.A. now owns 18,862 shares of the solar cell manufacturer’s stock worth $3,122,000 after acquiring an additional 1,115 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Kuntal Kumar Verma sold 582 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $250.00, for a total value of $145,500.00. Following the sale, the insider owned 4,967 shares of the company’s stock, valued at approximately $1,241,750. This trade represents a 10.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark R. Widmar sold 9,926 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $233.21, for a total value of $2,314,842.46. Following the transaction, the chief executive officer owned 95,148 shares of the company’s stock, valued at $22,189,465.08. This represents a 9.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 31,893 shares of company stock valued at $7,893,775 over the last 90 days. 0.39% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Freedom Capital upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Evercore boosted their price objective on First Solar from $212.00 to $219.00 in a report on Monday, May 4th. Argus upped their price objective on First Solar from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Mizuho increased their target price on First Solar from $243.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, June 12th. Finally, Weiss Ratings upgraded First Solar from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and an average target price of $257.10.

First Solar Trading Up 1.4%

First Solar stock opened at $208.86 on Thursday. The firm’s 50-day moving average is $249.71 and its 200-day moving average is $227.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. First Solar, Inc. has a 1 year low of $171.99 and a 1 year high of $320.95. The company has a market cap of $22.44 billion, a P/E ratio of 13.49, a PEG ratio of 0.46 and a beta of 1.73.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The company’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.95 EPS. On average, equities analysts expect that First Solar, Inc. will post 17.54 earnings per share for the current year.

Trending Headlines about First Solar

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: TD Cowen was reported to have a Buy view on First Solar, which may have supported bullish sentiment around the stock. Article Title
• Positive Sentiment: First Solar was highlighted as rising while the broader market dipped, suggesting relative strength and investor demand for the solar name. Article Title
• Neutral Sentiment: Analyst commentary across the sector was described as mixed, which adds some uncertainty but does not appear to have changed the core investment case by itself. Article Title
• Negative Sentiment: Multiple law firms are promoting a securities class action tied to First Solar, with lead-plaintiff deadlines and allegations of investor losses, which can weigh on sentiment and raise legal overhang concerns. Article Title
• Negative Sentiment: The newly filed class action and related shareholder notices add legal risk and could pressure the stock if investors focus on potential damages and management scrutiny. Article Title

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin?film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility?scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.