Guinness Asset Management LTD lessened its stake in shares of First Solar, Inc. (NASDAQ:FSLR – Free Report) by 5.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 49,492 shares of the solar cell manufacturer’s stock after selling 2,896 shares during the period. Guinness Asset Management LTD’s holdings in First Solar were worth $13,276,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of FSLR. Viking Global Investors LP raised its holdings in First Solar by 60.6% during 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 buying an additional 854,919 shares during the period. Lightrock Netherlands B.V. grew its position in First Solar by 2,663.8% in the 4th quarter. Lightrock Netherlands B.V. now owns 666,307 shares of the solar cell manufacturer’s stock valued at $174,059,000 after acquiring an additional 642,199 shares during the last quarter. Amundi increased its stake in First Solar by 38.6% in the third quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer’s stock worth $459,917,000 after purchasing an additional 564,032 shares during the period. Vanguard Group Inc. increased its stake in First Solar by 3.5% in 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 period. Finally, Atreides Management LP purchased a new stake in First Solar in the second quarter worth $65,134,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.
First Solar Price Performance
FSLR opened at $257.85 on Friday. First Solar, Inc. has a 12-month low of $135.50 and a 12-month high of $285.99. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The business’s fifty day simple moving average is $205.04 and its 200-day simple moving average is $231.20. The company has a market capitalization of $27.71 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 0.55 and a beta of 1.57.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the company. Freedom Capital upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Barclays reduced their target price on First Solar from $228.00 to $213.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. Mizuho reduced their target price on First Solar from $271.00 to $243.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th. Susquehanna reduced their target price on First Solar from $280.00 to $250.00 and set a “positive” rating on the stock in a research note on Thursday, April 9th. Finally, Zacks Research upgraded First Solar from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $247.40.
Check Out Our Latest Research Report on FSLR
Insider Buying and Selling at First Solar
In related news, insider Kuntal Kumar Verma sold 3,426 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $195.93, for a total transaction of $671,256.18. Following the completion of the sale, the insider directly owned 8,334 shares in the company, valued at $1,632,880.62. This represents a 29.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Alexander R. Bradley sold 14,106 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $199.97, for a total value of $2,820,776.82. Following the sale, the chief financial officer owned 30,000 shares of the company’s stock, valued at $5,999,100. This trade represents a 31.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 97,827 shares of company stock worth $20,006,930. Insiders own 0.39% of the company’s stock.
Key First Solar News
Here are the key news stories impacting First Solar this week:
- Positive Sentiment: First Solar announced a partnership with GameChange Solar to support wider use of its domestically manufactured thin-film modules in India, a move that could improve demand visibility and reduce supply-chain or compliance concerns. Why First Solar (FSLR) Stock Is Trading Up Today
- Positive Sentiment: Guggenheim raised its price target on First Solar to $279 from $269 and reiterated a Buy rating, signaling continued analyst confidence in the stock’s upside potential. MarketScreener
First Solar 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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