First Solar, Inc. $FSLR Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. has reduced its stake in First Solar, Inc. by 52.4%, now holding 42,415 shares valued at $5,363,000 after selling 46,606 shares in the first quarter.
• CEO Mark R. Widmar sold 23,912 shares for approximately $4.43 million, resulting in a 21.37% decrease in his ownership of the company's stock.
• Despite the stake reduction, First Solar's stock price has risen, with shares opening at $197.02 and the company reporting earnings that exceeded analysts' expectations.

American Century Companies Inc. trimmed its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 52.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,415 shares of the solar cell manufacturer's stock after selling 46,606 shares during the period. American Century Companies Inc.'s holdings in First Solar were worth $5,363,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Garde Capital Inc. purchased a new stake in First Solar during the first quarter valued at $25,000. Larson Financial Group LLC grew its position in shares of First Solar by 591.9% during the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock worth $32,000 after purchasing an additional 219 shares in the last quarter. Abound Financial LLC bought a new position in First Solar during the first quarter valued at approximately $45,000. Princeton Global Asset Management LLC bought a new position in First Solar during the first quarter valued at approximately $51,000. Finally, Banque Transatlantique SA bought a new position in First Solar during the fourth quarter valued at approximately $53,000. 92.08% of the stock is owned by institutional investors.

First Solar Price Performance

Shares of FSLR stock traded down $1.83 during trading hours on Monday, reaching $195.19. The company had a trading volume of 1,397,034 shares, compared to its average volume of 3,326,903. The company has a market capitalization of $20.93 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 0.39 and a beta of 1.40. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72. 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 fifty day moving average of $179.73 and a 200-day moving average of $156.28.

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

Insider Buying and Selling at First Solar

In other First Solar news, CEO Mark R. Widmar sold 2,321 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $199.44, for a total value of $462,900.24. Following the sale, the chief executive officer directly owned 81,861 shares in the company, valued at $16,326,357.84. This trade represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Nathan B. Theurer sold 686 shares of the firm's 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. Insiders have sold a total of 34,183 shares of company stock worth $6,299,786 over the last ninety days. Corporate insiders own 0.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Glj Research reaffirmed a "buy" rating and issued a $214.06 price objective (up from $172.53) on shares of First Solar in a research note on Tuesday, August 12th. UBS Group reiterated a "buy" rating and issued a $275.00 price target (up from $255.00) on shares of First Solar in a report on Tuesday, August 5th. Susquehanna lifted their price target on First Solar from $203.00 to $222.00 and gave the company a "positive" rating in a report on Friday, August 1st. Bank of America boosted their target price on First Solar from $185.00 to $201.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Finally, Wall Street Zen raised First Solar from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $225.84.

First Solar Profile

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.