First Solar, Inc. $FSLR Shares Sold by Aberdeen Group plc

Key Points

• Aberdeen Group plc significantly reduced its stake in First Solar, Inc. by 70.8% in the first quarter, resulting in ownership of 126,659 shares valued at approximately $15.74 million.
• Various institutional investors increased their positions in First Solar, with notable changes including a 591.9% increase by Larson Financial Group, and numerous new acquisitions totaling around $145,000.
• Analysts are optimistic about First Solar's prospects, with a consensus rating of "Moderate Buy" and an average target price of $222.44 based on positive recent earnings performance.

Aberdeen Group plc trimmed its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 70.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,659 shares of the solar cell manufacturer's stock after selling 306,764 shares during the quarter. Aberdeen Group plc owned about 0.12% of First Solar worth $15,742,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Horizon Investments LLC lifted its position in shares of First Solar by 5.1% during the first quarter. Horizon Investments LLC now owns 1,537 shares of the solar cell manufacturer's stock worth $194,000 after purchasing an additional 74 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of First Solar by 0.7% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,348 shares of the solar cell manufacturer's stock worth $1,435,000 after purchasing an additional 82 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its position in shares of First Solar by 4.3% during the first quarter. Linden Thomas Advisory Services LLC now owns 2,243 shares of the solar cell manufacturer's stock worth $284,000 after purchasing an additional 92 shares during the last quarter. EP Wealth Advisors LLC lifted its position in shares of First Solar by 7.9% during the fourth quarter. EP Wealth Advisors LLC now owns 1,293 shares of the solar cell manufacturer's stock worth $228,000 after purchasing an additional 95 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of First Solar by 11.6% during the first quarter. Signaturefd LLC now owns 985 shares of the solar cell manufacturer's stock worth $125,000 after purchasing an additional 102 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Stock Down 7.0%

FSLR traded down $14.44 on Thursday, hitting $192.00. The company had a trading volume of 5,216,675 shares, compared to its average volume of 3,359,016. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The stock has a market capitalization of $20.59 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 0.41 and a beta of 1.48. The stock has a fifty day moving average price of $174.62 and a 200-day moving average price of $155.00. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.50. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The company's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other First Solar news, CTO Markus Gloeckler sold 9,557 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total value of $1,481,812.85. Following the completion of the sale, the chief technology officer owned 8,037 shares of the company's stock, valued at approximately $1,246,136.85. This trade represents a 54.32% 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 the SEC website. Also, CAO Nathan B. Theurer sold 686 shares of First Solar stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $182.03, for a total value of $124,872.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,691 shares of company stock valued at $8,248,477. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FSLR. Wall Street Zen upgraded First Solar from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Glj Research restated a "buy" rating and set a $214.06 price target (up previously from $172.53) on shares of First Solar in a research note on Tuesday, August 12th. Mizuho raised their price target on First Solar from $275.00 to $278.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. raised their price target on First Solar from $200.00 to $208.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Finally, UBS Group restated a "buy" rating and set a $275.00 price target (up previously from $255.00) on shares of First Solar in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $222.44.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.