Himension Capital Singapore PTE. LTD. grew its stake in First Solar, Inc. (NASDAQ:FSLR – Free Report) by 69.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,746 shares of the solar cell manufacturer’s stock after purchasing an additional 4,398 shares during the period. Himension Capital Singapore PTE. LTD.’s holdings in First Solar were worth $2,120,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Aventura Private Wealth LLC bought a new stake in First Solar in the fourth quarter valued at $25,000. Commonwealth Retirement Investments LLC acquired a new position in First Solar during the fourth quarter worth $26,000. Reflection Asset Management bought a new position in shares of First Solar during the fourth quarter valued at $26,000. Strategic Wealth Investment Group LLC bought a new position in shares of First Solar during the second quarter valued at $26,000. Finally, Larson Financial Group LLC boosted its stake in shares of First Solar by 117.0% in the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on FSLR shares. Susquehanna increased their target price on shares of First Solar from $250.00 to $270.00 and gave the stock a “positive” rating in a research report on Friday, July 10th. Weiss Ratings upgraded shares of First Solar from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 25th. Freedom Capital raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Morgan Stanley raised their price objective on shares of First Solar from $230.00 to $245.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, Zacks Research upgraded shares of First Solar from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $257.10.
Insider Activity at First Solar
In other news, insider Caroline Stockdale sold 10,628 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $275.60, for a total transaction of $2,929,076.80. Following the sale, the insider directly owned 23,792 shares of the company’s stock, valued at $6,557,075.20. This represents a 30.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kuntal Kumar Verma sold 582 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $250.00, for a total transaction of $145,500.00. Following the completion of the sale, the insider directly owned 4,967 shares of the company’s stock, valued at approximately $1,241,750. This represents a 10.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 31,893 shares of company stock valued at $7,893,775 in the last three months. 0.39% of the stock is currently owned by corporate insiders.
First Solar Stock Performance
First Solar stock opened at $206.05 on Wednesday. The stock has a 50-day simple moving average of $250.23 and a 200 day simple moving average of $227.94. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. First Solar, Inc. has a 12-month low of $171.99 and a 12-month high of $320.95. The stock has a market capitalization of $22.14 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 0.46 and a beta of 1.73.
First Solar (NASDAQ:FSLR – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company earned $1.95 EPS. The firm’s quarterly revenue was up 23.6% on a year-over-year basis. On average, research analysts anticipate that First Solar, Inc. will post 17.54 earnings per share for the current fiscal year.
Key First Solar News
Here are the key news stories impacting First Solar this week:
- Positive Sentiment: First Solar continues to draw attention from investors and analysts because of its growth in U.S. solar manufacturing and exposure to domestic solar demand. Article Title
- Neutral Sentiment: Several law firms issued reminder notices about the pending securities class action and the August 24 deadline for investors to seek lead-plaintiff status. Article Title
- Neutral Sentiment: Pomerantz announced that a class action has been filed against First Solar and certain officers, alleging securities-law violations tied to the class period. Article Title
- Negative Sentiment: The lawsuit and repeated legal notices highlight alleged misrepresentations about module production underutilization and the challenges of onshoring operations, which can weigh on investor sentiment and raise litigation risk. Article Title
About First Solar
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.
Read More
- Five stocks we like better than First Solar
- Confidence Is Back, But Earnings Show the Consumer Is Being Picky
- AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off
- 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative?
- 3 Photonics Companies Making Quantum Tech Possible
Receive News & Ratings for First Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Solar and related companies with MarketBeat.com's FREE daily email newsletter.
