Donoghue Forlines LLC purchased a new stake in First Solar, Inc. (NASDAQ:FSLR – Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 8,739 shares of the solar cell manufacturer’s stock, valued at approximately $2,283,000.
Several other institutional investors also recently bought and sold shares of the business. New York Life Investment Management LLC raised its holdings in First Solar by 1.0% in the 4th quarter. New York Life Investment Management LLC now owns 14,708 shares of the solar cell manufacturer’s stock valued at $3,842,000 after acquiring an additional 150 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in First Solar by 9.7% in the 4th quarter. Pinnacle Associates Ltd. now owns 3,881 shares of the solar cell manufacturer’s stock valued at $1,014,000 after acquiring an additional 343 shares during the last quarter. Allworth Financial LP raised its holdings in First Solar by 27.1% in the 4th quarter. Allworth Financial LP now owns 1,215 shares of the solar cell manufacturer’s stock valued at $317,000 after acquiring an additional 259 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of First Solar by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,357 shares of the solar cell manufacturer’s stock valued at $3,228,000 after buying an additional 67 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of First Solar during the 4th quarter valued at $242,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.
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, reinforcing upside expectations for FSLR. Argus Issues Positive Forecast for First Solar (NASDAQ:FSLR) Stock Price
- Positive Sentiment: Solar stocks are broadly stronger, with peers such as Enphase Energy and SolarEdge moving sharply higher, suggesting favorable sector sentiment that can spill over into First Solar. Enphase Energy and SolarEdge Jump 11%, Canadian Solar Sinks 10% in Lopsided Solar Stock Trade
- Positive Sentiment: First Solar’s last quarterly report beat estimates on both earnings and revenue, which continues to support the stock’s fundamental outlook. First Solar price performance and earnings data
- Neutral Sentiment: CEO Mark Widmar disclosed Rule 10b5-1 share sales, which were pre-planned but can still create a modest sentiment drag for investors. First Solar insider trading disclosure
- Neutral Sentiment: Coverage discussing China’s clean-tech retreat from the U.S. highlights the policy backdrop for solar, but the impact on FSLR is indirect and mixed. China’s $3 Billion US Clean Tech Exit Is an Investment Warning
First Solar Stock Down 1.3%
First Solar (NASDAQ:FSLR – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company earned $1.95 EPS. The firm’s revenue was up 23.6% on a year-over-year basis. Equities research analysts forecast that First Solar, Inc. will post 17.63 earnings per share for the current fiscal year.
Insider Activity
In related news, insider Patrick James Buehler sold 235 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $50,673.05. Following the completion of the sale, the insider directly owned 7,406 shares of the company’s stock, valued at approximately $1,596,955.78. This represents a 3.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Koralewski sold 215 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $46,360.45. Following the sale, the insider directly owned 14,642 shares of the company’s stock, valued at approximately $3,157,254.46. This trade represents a 1.45% decrease in their ownership of the stock. 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 92,430 shares of company stock worth $18,670,055 in the last quarter. Insiders own 0.39% of the company’s stock.
Analyst Upgrades and Downgrades
FSLR has been the subject of several research reports. Bank of America lowered their price objective on shares of First Solar from $291.00 to $271.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Mizuho lowered their price objective on shares of First Solar from $271.00 to $243.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. Argus boosted their price objective on shares of First Solar from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday. Zacks Research raised shares of First Solar from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Jefferies Financial Group lowered their price objective on shares of First Solar from $205.00 to $187.00 and set a “hold” rating for the company in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and an average target price of $247.03.
Read Our Latest Stock Report on First Solar
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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