Assenagon Asset Management S.A. Sells 13,866 Shares of First Solar, Inc. $FSLR

Key Points

• Assenagon Asset Management cut its First Solar stake by 7.4%, selling 13,866 shares and retaining 174,759 shares valued at approximately $30.6 million. Institutional investors collectively own 92.08% of the company.
• First Solar shares opened at $172.64, down 3.5%, and remain near their 12-month low of $168.60. The stock faces pressure from higher interest rates and weakness across renewable-energy equities.
• Despite the market pressure, analysts maintain a “Moderate Buy” consensus with an average price target of $265.87; First Solar recently exceeded quarterly earnings expectations, reporting $3.92 in EPS versus the $2.90 consensus.

Assenagon Asset Management S.A. reduced its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 7.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,759 shares of the solar cell manufacturer's stock after selling 13,866 shares during the quarter. Assenagon Asset Management S.A. owned about 0.16% of First Solar worth $30,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in FSLR. BlackRock Inc. purchased a new position in shares of First Solar in the second quarter worth about $3,310,298,000. Hill City Capital LP bought a new stake in shares of First Solar during the 2nd quarter valued at about $620,133,555. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of First Solar by 7.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,535,836 shares of the solar cell manufacturer's stock worth $362,396,000 after acquiring an additional 100,694 shares during the period. Dimensional Fund Advisors LP raised its holdings in First Solar by 4.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,305,471 shares of the solar cell manufacturer's stock worth $257,441,000 after purchasing an additional 56,300 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in First Solar by 29.3% during the first quarter. Pictet Asset Management Holding SA now owns 1,138,473 shares of the solar cell manufacturer's stock worth $224,540,000 after acquiring an additional 258,204 shares in the last quarter. Institutional investors own 92.08% of the company's stock.

Trending Headlines about First Solar

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

• Positive Sentiment: Investor attention remains focused on First Solar’s strong annual revenue growth, positive free cash flow, improving returns on capital and expanding market share. These factors support the long-term investment case despite near-term market volatility. How Investors Are Reacting To First Solar Strong Fundamentals And Market Share Gains
• Positive Sentiment: High trading volume in First Solar call options suggests some traders are positioning for a potential rebound or increased volatility ahead of the company’s earnings report, although options activity is not a guarantee of future gains. Traders Purchase High Volume of First Solar Call Options
• Neutral Sentiment: First Solar will release third-quarter 2026 results after the market closes on October 29 and host an investor webcast. The report could provide important updates on demand, margins, production and guidance. First Solar to Announce Third Quarter 2026 Financial Results
• Negative Sentiment: Higher interest rates are pressuring clean-tech valuations and encouraging investors to rotate away from growth-oriented renewable-energy stocks. This macro backdrop has weighed on the Guinness Sustainable Energy Fund and the broader solar group. Guinness Sustainable Energy Fund Discusses First Solar Amid Solar Industry Weakness
• Negative Sentiment: First Solar declined more sharply than the broader market in the latest session, reflecting continued sector weakness and risk aversion rather than a newly reported company-specific deterioration. First Solar Falls More Steeply Than Broader Market

First Solar Trading Down 3.5%

Shares of NASDAQ FSLR opened at $172.64 on Friday. The stock has a market capitalization of $18.55 billion, a price-to-earnings ratio of 10.64, a P/E/G ratio of 0.47 and a beta of 1.80. First Solar, Inc. has a 12-month low of $168.60 and a 12-month high of $320.95. The firm's 50-day moving average price is $198.70 and its 200-day moving average price is $218.97.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share for the quarter, beating the consensus estimate of $2.90 by $1.02. First Solar had a return on equity of 18.02% and a net margin of 32.47%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the company posted $3.18 EPS. The company's revenue for the quarter was down 3.4% compared to the same quarter last year. On average, equities analysts predict that First Solar, Inc. will post 17.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Guggenheim reaffirmed a "buy" rating on shares of First Solar in a research report on Monday, September 28th. Roth Capital restated a "buy" rating and set a $300.00 price target on shares of First Solar in a research note on Friday, July 24th. Piper Sandler reduced their price objective on First Solar from $260.00 to $251.00 and set an "overweight" rating for the company in a research note on Wednesday, September 30th. Argus restated a "buy" rating and set a $275.00 target price on shares of First Solar in a research note on Wednesday, August 26th. Finally, Morgan Stanley boosted their price objective on First Solar from $323.00 to $326.00 and gave the company an "overweight" rating in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $265.87.

Insiders Place Their Bets

In other First Solar news, EVP Samantha Sloan sold 127 shares of the company's stock in a transaction 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 transaction, the executive vice president owned 2,018 shares of the company's stock, valued at $449,913.10. This represents a 5.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Markus Gloeckler sold 3,425 shares of the company's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $218.95, for a total transaction of $749,903.75. Following the completion of the transaction, the chief technology officer owned 7,471 shares in the company, valued at approximately $1,635,775.45. The trade was a 31.43% 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 quarter, insiders sold 16,681 shares of company stock worth $3,756,286. Insiders own 0.39% of the company's stock.

First Solar Profile

First Solar, Inc is a solar technology and manufacturing company that designs and produces photovoltaic (PV) solar modules for utility-scale power projects. Unlike conventional crystalline-silicon panels, its modules use thin-film semiconductor technology based on cadmium telluride (CdTe), which the company says can provide advantages in energy yield, temperature performance and lifecycle sustainability.

The company's product portfolio includes its Series 6 and Series 7 thin-film solar modules, along with related services such as technical support, module recycling and end-of-life collection.

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