Jupiter Asset Management Ltd. Trims Holdings in First Solar, Inc. $FSLR

Jupiter Asset Management Ltd. reduced its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,403 shares of the solar cell manufacturer’s stock after selling 1,614 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.08% of First Solar worth $13,807,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. New York State Common Retirement Fund grew its stake in First Solar by 1.8% in the 1st quarter. New York State Common Retirement Fund now owns 66,960 shares of the solar cell manufacturer’s stock worth $8,466,000 after acquiring an additional 1,200 shares in the last quarter. Stephens Inc. AR purchased a new stake in shares of First Solar in the first quarter valued at approximately $2,106,000. Signaturefd LLC raised its position in First Solar by 11.6% during the 1st quarter. Signaturefd LLC now owns 985 shares of the solar cell manufacturer’s stock valued at $125,000 after purchasing an additional 102 shares in the last quarter. Larson Financial Group LLC grew its position in shares of First Solar by 591.9% during the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer’s stock worth $32,000 after buying an additional 219 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of First Solar by 7.0% during the first quarter. Victory Capital Management Inc. now owns 38,762 shares of the solar cell manufacturer’s stock valued at $4,901,000 after buying an additional 2,519 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insiders Place Their Bets

In other First Solar news, insider Georges Antoun sold 37,412 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $265.01, for a total value of $9,914,554.12. Following the completion of the sale, the insider owned 15,424 shares of the company’s stock, valued at approximately $4,087,514.24. This trade represents a 70.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael T. Sweeney sold 4,500 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $271.11, for a total transaction of $1,219,995.00. Following the transaction, the director owned 13,662 shares in the company, valued at approximately $3,703,904.82. This trade represents a 24.78% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 51,233 shares of company stock valued at $13,434,249. 0.48% of the stock is owned by corporate insiders.

First Solar Price Performance

Shares of FSLR opened at $267.52 on Thursday. The company has a 50 day moving average of $230.76 and a two-hundred day moving average of $191.07. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $281.55. The company has a market cap of $28.71 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 0.46 and a beta of 1.51.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, October 30th. The solar cell manufacturer reported $4.24 EPS for the quarter, missing the consensus estimate of $4.32 by ($0.08). The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.56 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The business’s revenue for the quarter was up 79.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.91 EPS. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. As a group, analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FSLR shares. Citigroup upped their price objective on shares of First Solar from $198.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Needham & Company LLC initiated coverage on shares of First Solar in a report on Wednesday, October 22nd. They issued a “buy” rating and a $286.00 price target for the company. Evercore ISI increased their price objective on shares of First Solar from $240.90 to $241.00 in a research note on Friday, October 31st. KeyCorp reissued an “overweight” rating on shares of First Solar in a report on Friday, October 31st. Finally, Wolfe Research upped their target price on First Solar from $232.00 to $247.00 in a report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, First Solar has an average rating of “Moderate Buy” and a consensus target price of $270.17.

First Solar 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.