Securian Asset Management Inc. decreased its stake in First Solar, Inc. (NASDAQ:FSLR – Free Report) by 43.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,932 shares of the solar cell manufacturer’s stock after selling 2,298 shares during the period. Securian Asset Management Inc.’s holdings in First Solar were worth $766,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of First Solar by 3.5% during the third quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer’s stock worth $3,026,108,000 after purchasing an additional 464,130 shares during the last quarter. Viking Global Investors LP lifted its holdings 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 purchasing an additional 854,919 shares during the last quarter. Amundi boosted its position in shares of First Solar by 38.6% in the 3rd quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer’s stock valued at $459,917,000 after purchasing an additional 564,032 shares during the period. Northern Trust Corp boosted its position in shares of First Solar by 2.6% in the 3rd quarter. Northern Trust Corp now owns 1,349,531 shares of the solar cell manufacturer’s stock valued at $297,612,000 after purchasing an additional 34,313 shares during the period. Finally, Clean Energy Transition LLP grew its stake in First Solar by 48.2% during the 3rd quarter. Clean Energy Transition LLP now owns 1,117,228 shares of the solar cell manufacturer’s stock worth $246,382,000 after buying an additional 363,274 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.
First Solar Trading Up 2.9%
Shares of FSLR stock opened at $234.60 on Thursday. The business’s 50 day moving average is $199.13 and its two-hundred day moving average is $231.46. First Solar, Inc. has a twelve month low of $135.50 and a twelve month high of $285.99. The company has a market capitalization of $25.21 billion, a P/E ratio of 15.16, a price-to-earnings-growth ratio of 0.50 and a beta of 1.57. 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 News Roundup
Here are the key news stories impacting First Solar this week:
- Positive Sentiment: Argus raised its price target on First Solar to $275 from $250 and reiterated a buy rating, signaling confidence in further upside after recent strength. Argus Adjusts Price Target on First Solar
- Positive Sentiment: Broader solar stocks are showing improved momentum, with reports that First Solar and other clean-energy names are attempting breakouts as investors rotate back into the sector. Solar Stocks Could Have More Room to Run
- Positive Sentiment: Bloomberg reported that Chinese clean-tech firms are pulling back from the U.S. because of a tougher policy environment and possible loss of incentives, which could improve the competitive position of U.S.-based solar manufacturers such as First Solar. China’s $3 Billion US Clean Tech Exit Is an Investment Warning
- Neutral Sentiment: First Solar CEO Mark Widmar disclosed two recent stock sales under a pre-arranged 10b5-1 plan. Insider selling can draw attention, but the transactions appear routine rather than a negative business signal.
- Neutral Sentiment: The company’s shareholder/analyst call transcript was published, but no new material catalyst was highlighted in the provided headline.
Insider Buying and Selling
In other First Solar news, CTO Markus Gloeckler sold 3,640 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $196.95, for a total transaction of $716,898.00. Following the completion of the transaction, the chief technology officer owned 8,037 shares in the company, valued at approximately $1,582,887.15. This represents a 31.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark R. Widmar sold 9,926 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $233.21, for a total transaction of $2,314,842.46. Following the completion of the sale, the chief executive officer owned 95,148 shares of the company’s stock, valued at $22,189,465.08. This trade represents a 9.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 92,430 shares of company stock worth $18,670,055 in the last ninety days. Insiders own 0.39% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. Citigroup cut their price target on First Solar from $300.00 to $243.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. HSBC raised their target price on shares of First Solar from $211.00 to $231.00 and gave the stock a “hold” rating in a research report on Tuesday, May 5th. The Goldman Sachs Group lifted their target price on shares of First Solar from $300.00 to $310.00 in a report on Friday, May 1st. Royal Bank Of Canada reduced their price target on shares of First Solar from $258.00 to $236.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Finally, Argus increased their price target on shares of First Solar from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $247.03.
Get Our Latest Research Report on FSLR
First Solar Company Profile
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.
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