Assenagon Asset Management S.A. Has $44.51 Million Holdings in First Solar, Inc. $FSLR

Assenagon Asset Management S.A. cut its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 20.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,625 shares of the solar cell manufacturer's stock after selling 47,093 shares during the period. Assenagon Asset Management S.A. owned 0.18% of First Solar worth $44,508,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Retirement Investments LLC acquired a new stake in First Solar in the fourth quarter valued at approximately $26,000. Reflection Asset Management acquired a new stake in shares of First Solar in the 4th quarter valued at $26,000. Strategic Wealth Investment Group LLC acquired a new stake in shares of First Solar in the 2nd quarter valued at $26,000. Larson Financial Group LLC increased its position in First Solar by 117.0% during the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer's stock worth $27,000 after buying an additional 55 shares during the last quarter. Finally, Elyxium Wealth LLC bought a new position in First Solar during the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 92.08% of the company's stock.

Insider Transactions at First Solar

In other news, CEO Mark R. Widmar sold 9,926 shares of the business's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $233.21, for a total transaction of $2,314,842.46. Following the sale, the chief executive officer directly owned 95,148 shares in the company, valued at approximately $22,189,465.08. The trade was a 9.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 the company's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $221.51, for a total value of $1,550,570.00. Following the completion of the transaction, the insider owned 7,642 shares of the company's stock, valued at $1,692,779.42. The trade was a 47.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 38,505 shares of company stock worth $9,398,886. 0.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on FSLR. Freedom Capital raised First Solar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 5th. Argus upped their target price on First Solar from $250.00 to $275.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Evercore upped their target price on First Solar from $212.00 to $219.00 in a research report on Monday, May 4th. Guggenheim lifted their price target on shares of First Solar from $279.00 to $282.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Finally, HSBC raised shares of First Solar from a "hold" rating to a "buy" rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $254.89.

First Solar Price Performance

NASDAQ:FSLR opened at $250.05 on Friday. The stock has a market cap of $26.87 billion, a P/E ratio of 15.42, a PEG ratio of 0.55 and a beta of 1.75. First Solar, Inc. has a one year low of $176.47 and a one year high of $320.95. The company has a fifty day moving average price of $241.00 and a 200 day moving average price of $225.26.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $1.02. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. First Solar had a net margin of 32.47% and a return on equity of 18.02%. The business's quarterly revenue was down 3.4% on a year-over-year basis. During the same period last year, the business posted $3.18 EPS. As a group, equities research analysts anticipate that First Solar, Inc. will post 17.75 EPS for the current year.

First Solar News Roundup

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

• Positive Sentiment: The Trump administration imposed a 15% tariff and minimum import-price requirements on polysilicon and downstream products under Section 232. The policy, scheduled to take effect December 4, could reduce low-cost Chinese competition and support pricing for U.S. solar manufacturers. Solar stocks shine after Trump extends China tariffs to polysilicon products
• Positive Sentiment: First Solar publicly supported the action, saying it could help loosen China’s control of a critical solar-material supply chain. Chinese producers reportedly account for more than 90% of global polysilicon supply. First Solar applauds Section 232 action
• Positive Sentiment: Wells Fargo raised its price target from $300 to $313 and maintained an overweight rating, saying the trade action could benefit First Solar more than previously expected. HSBC also upgraded the stock from hold to buy, reinforcing improving analyst sentiment. First Solar clears aggressive buy point
• Neutral Sentiment: The company’s earlier quarterly earnings beat remains a supportive backdrop: First Solar reported $3.92 in earnings per share versus the $2.90 consensus estimate, although revenue declined 3.4% year over year. Its contracted backlog and domestic capacity expansion provide longer-term visibility, but investors remain focused on earnings durability.
• Negative Sentiment: Several law firms are promoting a securities class action against First Solar and certain executives concerning alleged disclosures about production underutilization, South Carolina onshoring costs and related risks. The allegations remain unproven, but the August 24 lead-plaintiff deadline adds legal and reputational uncertainty. Pomerantz class action announcement

About First Solar

First Solar, Inc NASDAQ: FSLR is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.

Want to see what other hedge funds are holding FSLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Solar, Inc. (NASDAQ:FSLR - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source