67,789 Shares of First Solar, Inc. $FSLR Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments acquired 67,789 First Solar shares in the third quarter, valued at about $11.9 million and representing 0.06% of the company. Institutional investors collectively own 92.08% of First Solar.
• First Solar reported quarterly EPS of $5.30, beating the $4.67 consensus estimate, but revenue of $1.23 billion fell short of expectations and declined 22.8% year over year.
• Clean-energy shares gained on hopes for stronger federal renewable-energy support, though policy changes remain uncertain; Barclays and Guggenheim also cut their price targets on First Solar.

Mirae Asset Global Investments Co. Ltd. bought a new position in First Solar, Inc. (NASDAQ:FSLR - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 67,789 shares of the solar cell manufacturer's stock, valued at approximately $11,874,000. Mirae Asset Global Investments Co. Ltd. owned 0.06% of First Solar at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Toth Financial Advisory Corp acquired a new position in shares of First Solar during the third quarter valued at approximately $32,000. Clearstead Trust LLC acquired a new position in shares of First Solar in the second quarter worth $34,000. Vega Investment Solutions acquired a new stake in shares of First Solar during the 2nd quarter valued at about $40,000. Rakuten Securities Inc. acquired a new stake in shares of First Solar in the 2nd quarter valued at $44,000. Finally, Allied Private Wealth LLC bought a new position in shares of First Solar in the second quarter valued at approximately $45,000. Institutional investors own 92.08% of the company's stock.

Key First Solar News

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

• Positive Sentiment: Investors anticipate that Democratic control of Congress could improve prospects for federal support of renewable energy and domestic solar manufacturing, lifting First Solar and other clean-energy shares. The extent and timing of any policy changes remain uncertain. Article: First Solar Jumps as Democratic Sweep Revives Clean-Energy Hopes
• Positive Sentiment: First Solar’s U.S. manufacturing footprint may also benefit from existing tariffs that support its competitive position against imported solar products. Article: First Solar Jumps After Democratic Sweep, but Tariffs Already Favor It
• Positive Sentiment: Options activity pointed to bullish positioning: traders bought 67,156 FSLR call options, 128% above the average volume reported in the article.
• Neutral Sentiment: The rally was part of a broader market rotation into clean-energy stocks after the election. The policy shift may change investor expectations, but it does not immediately alter company earnings, and the legislative path remains uncertain. Article: “Blue Trade” Sends First Solar and Sunrun Soaring
• Negative Sentiment: Barclays and Guggenheim each cut their price target on First Solar, providing a counterpoint to the election-driven optimism. The available reports do not specify the revised targets. Article: First Solar Price Target Cut by Barclays Article: First Solar Price Target Cut by Guggenheim

First Solar Stock Up 4.6%

First Solar stock opened at $194.51 on Thursday. The stock has a market cap of $20.91 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 0.50 and a beta of 1.73. The business has a 50-day simple moving average of $187.38 and a 200 day simple moving average of $215.40. First Solar, Inc. has a 52 week low of $165.86 and a 52 week high of $320.95.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its earnings results on Thursday, October 29th. The solar cell manufacturer reported $5.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.63. First Solar had a return on equity of 18.33% and a net margin of 37.12%. The company had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.29 billion. During the same period last year, the firm earned $4.24 earnings per share. First Solar's quarterly revenue was down 22.8% on a year-over-year basis. On average, research analysts anticipate that First Solar, Inc. will post 17.66 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel Jason E. Dymbort sold 3,700 shares of First Solar stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $249.38, for a total transaction of $922,706.00. Following the completion of the transaction, the general counsel directly owned 5,624 shares in the company, valued at approximately $1,402,513.12. This trade represents a 39.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Samantha L. Sloan sold 127 shares of First Solar stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $222.95, for a total value of $28,314.65. Following the completion of the sale, the executive vice president directly owned 2,018 shares in the company, valued at $449,913.10. This represents a 5.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 5,427 shares of company stock worth $1,250,221 over the last quarter. Company insiders own 0.39% of the company's stock.

Analyst Upgrades and Downgrades

FSLR has been the topic of several analyst reports. Oppenheimer reissued a "market perform" rating on shares of First Solar in a report on Friday, October 30th. Deutsche Bank Aktiengesellschaft lowered shares of First Solar from a "buy" rating to a "hold" rating in a research note on Thursday, August 27th. HSBC raised shares of First Solar from a "hold" rating to a "buy" rating in a research report on Friday, August 7th. Robert W. Baird lowered their price objective on First Solar from $290.00 to $266.00 and set an "outperform" rating on the stock in a research report on Monday. Finally, Truist Financial upgraded shares of First Solar from a "hold" rating to a "buy" rating and boosted their price objective for the company from $229.00 to $270.00 in a research report on Monday, October 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $257.38.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.