Korea Investment CORP Cuts Position in First Solar, Inc. $FSLR

Korea Investment CORP reduced its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 37.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,069 shares of the solar cell manufacturer’s stock after selling 37,614 shares during the quarter. Korea Investment CORP owned approximately 0.06% of First Solar worth $8,100,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FSLR. Northern Trust Corp grew its stake in First Solar by 3.7% in the first quarter. Northern Trust Corp now owns 1,295,310 shares of the solar cell manufacturer’s stock valued at $163,766,000 after purchasing an additional 46,758 shares during the last quarter. Brooklyn Investment Group grew its position in shares of First Solar by 41.5% in the 1st quarter. Brooklyn Investment Group now owns 460 shares of the solar cell manufacturer’s stock worth $58,000 after buying an additional 135 shares during the last quarter. Corient IA LLC bought a new position in shares of First Solar during the 1st quarter worth approximately $316,000. Raymond James Financial Inc. raised its stake in shares of First Solar by 57.2% during the 1st quarter. Raymond James Financial Inc. now owns 43,991 shares of the solar cell manufacturer’s stock worth $5,562,000 after acquiring an additional 16,003 shares in the last quarter. Finally, Boston Family Office LLC purchased a new stake in First Solar during the first quarter valued at approximately $1,027,000. Institutional investors own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

FSLR has been the topic of several analyst reports. KeyCorp lowered shares of First Solar from a “sector weight” rating to an “underweight” rating and set a $100.00 price target on the stock. in a report on Wednesday, April 30th. The Goldman Sachs Group boosted their target price on First Solar from $204.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. Royal Bank Of Canada increased their price target on First Solar from $188.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. raised their price target on First Solar from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Tuesday, July 22nd. Finally, Bank of America boosted their price target on First Solar from $185.00 to $201.00 and gave the stock a “buy” rating in a research note on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and an average target price of $225.84.

Insider Buying and Selling at First Solar

In related news, CEO Mark R. Widmar sold 2,321 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $199.44, for a total transaction of $462,900.24. Following the completion of the transaction, the chief executive officer directly owned 81,861 shares in the company, valued at $16,326,357.84. The trade was a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Nathan B. Theurer sold 686 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,691 shares of company stock worth $8,248,477. Corporate insiders own 0.48% of the company’s stock.

First Solar Stock Up 5.4%

Shares of FSLR stock opened at $202.28 on Friday. The stock’s 50-day simple moving average is $175.17 and its 200-day simple moving average is $155.25. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The firm has a market capitalization of $21.69 billion, a PE ratio of 17.30, a P/E/G ratio of 0.38 and a beta of 1.48. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $262.72.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.50. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company posted $3.25 earnings per share. The company’s revenue was up 8.6% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Equities analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

First Solar Company Profile

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.