25,485 First Solar, Inc. $FSLR Shares Sold by Robeco Schweiz AG

Key Points

• Robeco Schweiz AG reduced its First Solar stake by 3.9%, selling 25,485 shares and retaining 626,438 shares valued at approximately $109.7 million. Institutional investors collectively own 92.08% of the company.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $265.73; Morgan Stanley recently raised its target to $326, while BMO downgraded the stock to “Market Perform.”
• First Solar’s latest quarterly results exceeded expectations, with earnings of $3.92 per share versus a $2.90 consensus estimate, though revenue declined 3.4% year over year and the stock was trading near its 12-month low.

Robeco Schweiz AG lowered its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 3.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 626,438 shares of the solar cell manufacturer's stock after selling 25,485 shares during the period. First Solar comprises 2.0% of Robeco Schweiz AG's holdings, making the stock its 13th largest holding. Robeco Schweiz AG owned about 0.58% of First Solar worth $109,727,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. acquired a new stake in First Solar in the second quarter valued at $3,310,298,000. Hill City Capital LP acquired a new position in First Solar during the 2nd quarter worth about $620,133,555. Deutsche Bank AG acquired a new position in First Solar during the 2nd quarter worth about $212,626,000. Bank of America Corp DE bought a new stake in shares of First Solar in the 2nd quarter valued at about $171,043,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of First Solar in the 2nd quarter valued at about $164,962,000. Institutional investors and hedge funds own 92.08% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on FSLR. Morgan Stanley increased their price target on First Solar from $323.00 to $326.00 and gave the company an "overweight" rating in a research note on Wednesday, October 14th. BMO Capital Markets downgraded First Solar from a "hold" rating to a "market perform" rating in a research report on Thursday, August 27th. Mizuho set a $324.00 price objective on First Solar in a research note on Thursday, August 13th. Wells Fargo & Company upped their target price on First Solar from $300.00 to $313.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Finally, Guggenheim reiterated a "buy" rating on shares of First Solar in a report on Monday, September 28th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $265.73.

Insiders Place Their Bets

In related news, CTO Markus Gloeckler sold 800 shares of the firm's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $174.00, for a total transaction of $139,200.00. Following the completion of the sale, the chief technology officer owned 5,042 shares of the company's stock, valued at $877,308. This trade represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Koralewski sold 7,000 shares of First Solar stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $221.51, for a total value of $1,550,570.00. Following the completion of the sale, the insider owned 7,642 shares of the company's stock, valued at approximately $1,692,779.42. The trade was a 47.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 16,681 shares of company stock worth $3,756,286 in the last quarter. 0.39% of the stock is currently owned by company insiders.

First Solar Stock Up 0.4%

FSLR stock opened at $171.99 on Friday. The firm has a market cap of $18.48 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 0.47 and a beta of 1.80. First Solar, Inc. has a 12-month low of $168.60 and a 12-month high of $320.95. The company's fifty day simple moving average is $192.86 and its 200 day simple moving average is $218.21.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 EPS for the quarter, beating analysts' consensus estimates of $2.90 by $1.02. First Solar had a net margin of 32.47% and a return on equity of 18.02%. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the prior year, the firm posted $3.18 earnings per share. The business's quarterly revenue was down 3.4% compared to the same quarter last year. Research analysts expect that First Solar, Inc. will post 17.63 earnings per share for the current year.

First Solar News Roundup

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: BMO Capital issued a Buy rating on First Solar, providing a constructive analyst signal that may support investor confidence in the company’s long-term growth prospects. First Solar Gets a Buy from BMO Capital
• Positive Sentiment: Analysts and investors are focused on whether U.S. demand for domestically manufactured solar panels is strengthening. Firm domestic demand could benefit First Solar’s production utilization and revenue outlook. Is Domestic Panel Demand Firming for First Solar?
• Neutral Sentiment: First Solar is scheduled to report quarterly earnings, making the upcoming results, management guidance and commentary on demand key near-term catalysts. First Solar Projected to Announce Quarterly Earnings
• Neutral Sentiment: Investor attention has increased, with First Solar appearing among trending stocks. The heightened visibility could increase trading activity but does not itself change the company’s fundamentals. First Solar Is a Trending Stock
• Neutral Sentiment: Coverage is also highlighting First Solar’s substantial cash position, which may provide financial flexibility for expansion and help cushion periods of industry volatility. Should You Buy First Solar Stock For Its Cash?
• Negative Sentiment: Zacks reported that First Solar underperformed the broader market in the latest session, reflecting near-term selling pressure. First Solar Declines More Than the Market
• Negative Sentiment: Pre-earnings analysis says First Solar lacks the combination of earnings-estimate revisions and surprise indicators typically associated with a likely earnings beat. That raises the risk of a cautious reaction if results or guidance disappoint. First Solar Earnings Expected to Grow

First Solar Profile

First Solar, Inc is a vertically integrated solar technology and manufacturing company that designs, manufactures and sells photovoltaic (PV) solar modules. Its modules use advanced thin-film semiconductor technology based on cadmium telluride (CdTe), rather than the crystalline-silicon technology used by most solar manufacturers. The company serves utility-scale solar developers, commercial and industrial customers, and other large-scale energy users.

Founded in 1999 and headquartered in Tempe, Arizona, First Solar operates research and development, manufacturing and recycling facilities in the United States and internationally.

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