First Solar, Inc. $FSLR Shares Sold by Amundi

Key Points

• Amundi has reduced its stake in First Solar, Inc. by 6.8%, now holding approximately 1.57% of the company’s shares worth about $224.96 million.
• In the latest earnings report, First Solar recorded an EPS of $3.18, exceeding expectations, with revenues reaching $1.10 billion, marking an 8.6% year-over-year increase.
• Brokerage upgrades for FSLR include a "strong-buy" rating from HSBC Global Research and a price target increase to $275 by UBS Group, indicating strong market confidence.

Amundi decreased its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 6.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,683,019 shares of the solar cell manufacturer's stock after selling 122,225 shares during the quarter. Amundi owned approximately 1.57% of First Solar worth $224,962,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Energy Income Partners LLC increased its position in First Solar by 0.8% during the first quarter. Energy Income Partners LLC now owns 9,257 shares of the solar cell manufacturer's stock worth $1,170,000 after buying an additional 72 shares during the period. Long Focus Capital Management LLC purchased a new position in shares of First Solar during the first quarter worth approximately $8,850,000. Vident Advisory LLC increased its holdings in shares of First Solar by 39.8% in the 1st quarter. Vident Advisory LLC now owns 4,647 shares of the solar cell manufacturer's stock valued at $588,000 after acquiring an additional 1,323 shares during the period. Canada Pension Plan Investment Board raised its position in First Solar by 16,857.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 759,033 shares of the solar cell manufacturer's stock valued at $95,965,000 after purchasing an additional 754,557 shares during the last quarter. Finally, Wealth Preservation Advisors LLC purchased a new stake in First Solar in the 1st quarter valued at $25,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Price Performance

First Solar stock traded up $3.96 during midday trading on Wednesday, reaching $207.02. The company's stock had a trading volume of 537,016 shares, compared to its average volume of 3,742,111. The firm has a market capitalization of $22.20 billion, a PE ratio of 17.71, a P/E/G ratio of 0.40 and a beta of 1.41. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $262.72. The stock's 50 day simple moving average is $186.15 and its 200 day simple moving average is $158.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90.

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

Insider Transactions at First Solar

In other First Solar news, CAO Nathan B. Theurer sold 686 shares of the business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total transaction of $124,872.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Patrick James Buehler sold 1,600 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $180.00, for a total value of $288,000.00. Following the completion of the transaction, the insider owned 4,398 shares of the company's stock, valued at approximately $791,640. This represents a 26.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,315 shares of company stock valued at $6,021,305 in the last quarter. 0.48% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of First Solar from $200.00 to $208.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group raised their price target on First Solar from $204.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Mizuho upped their price objective on First Solar from $275.00 to $278.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Wolfe Research raised First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price objective for the company in a research report on Tuesday, May 13th. Finally, Jefferies Financial Group set a $194.00 target price on First Solar and gave the company a "buy" rating in a report on Tuesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $225.84.

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.