Jennison Associates LLC Sells 55,970 Shares of First Solar, Inc. $FSLR

Jennison Associates LLC reduced its stake in First Solar, Inc. (NASDAQ:FSLR) by 95.9% during the first quarter, HoldingsChannel reports. The firm owned 2,422 shares of the solar cell manufacturer’s stock after selling 55,970 shares during the quarter. Jennison Associates LLC’s holdings in First Solar were worth $478,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in FSLR. Geode Capital Management LLC boosted its position in First Solar by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 2,919,991 shares of the solar cell manufacturer’s stock valued at $761,396,000 after buying an additional 24,206 shares in the last quarter. Viking Global Investors LP lifted its stake in shares of First Solar by 60.6% in the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock valued at $375,122,000 after acquiring an additional 854,919 shares during the last quarter. Amundi boosted its holdings in shares of First Solar by 9.4% during the 4th quarter. Amundi now owns 2,215,461 shares of the solar cell manufacturer’s stock valued at $578,791,000 after acquiring an additional 189,626 shares in the last quarter. Norges Bank bought a new stake in First Solar during the 4th quarter worth $392,040,000. Finally, Schroder Investment Management Group increased its holdings in First Solar by 7.6% in the 4th quarter. Schroder Investment Management Group now owns 1,427,105 shares of the solar cell manufacturer’s stock worth $372,803,000 after purchasing an additional 100,908 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on FSLR. Weiss Ratings upgraded First Solar from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 25th. Guggenheim boosted their price target on First Solar from $269.00 to $279.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. The Goldman Sachs Group upped their price objective on First Solar from $300.00 to $310.00 in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft upgraded shares of First Solar from a “hold” rating to a “buy” rating and raised their price objective for the company from $245.00 to $272.00 in a report on Monday, July 6th. Finally, Wells Fargo & Company lifted their target price on shares of First Solar from $255.00 to $320.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, First Solar has an average rating of “Moderate Buy” and an average target price of $257.10.

First Solar Stock Down 1.4%

Shares of FSLR opened at $205.92 on Friday. The stock’s 50-day moving average price is $249.20 and its two-hundred day moving average price is $227.09. First Solar, Inc. has a 12 month low of $171.99 and a 12 month high of $320.95. The company has a market capitalization of $22.13 billion, a PE ratio of 13.30, a PEG ratio of 0.46 and a beta of 1.73. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

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

Insiders Place Their Bets

In other First Solar news, CEO Mark R. Widmar sold 4,815 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $247.43, for a total transaction of $1,191,375.45. Following the completion of the transaction, the chief executive officer owned 89,033 shares in the company, valued at approximately $22,029,435.19. This trade represents a 5.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jason E. Dymbort sold 409 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $88,192.67. Following the completion of the transaction, the general counsel owned 10,409 shares in the company, valued at $2,244,492.67. This trade represents a 3.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 31,893 shares of company stock valued at $7,893,775 over the last three months. Insiders own 0.39% of the company’s stock.

First Solar News Roundup

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

• Negative Sentiment: Several firms, including Bronstein, Gewirtz & Grossman, Pomerantz, Faruqi & Faruqi, Levi & Korsinsky, and others, announced or reminded investors about a securities class-action lawsuit against First Solar, adding legal overhang and uncertainty for the stock. Article Title
• Negative Sentiment: The lawsuit allegations focus on alleged investor harm and claims that First Solar overstated favorable long-term conditions while its international facilities faced mounting headwinds, which could raise concerns about future disclosures and potential settlement costs. Article Title
• Neutral Sentiment: TD Cowen reportedly reiterated a Buy rating, and Zacks highlighted that First Solar may be positioned to beat upcoming earnings estimates, offering some offsetting support from the analyst and fundamentals side. Article Title
• Neutral Sentiment: Recent trading has been choppy, with one session showing a modest rise and another showing the stock underperforming the broader market, suggesting investors are balancing earnings optimism against legal headlines. 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.