Bank Julius Baer & Co. Ltd Zurich Sells 10,547 Shares of First Solar, Inc. $FSLR

Key Points

• Bank Julius Baer & Co. Ltd Zurich reduced its First Solar stake by 8.7% in the fourth quarter, selling 10,547 shares and leaving it with 111,185 shares valued at about $29.0 million.
• First Solar’s latest quarterly results beat expectations, with EPS of $3.22 versus $2.87 expected and revenue of $1.04 billion, up 23.6% year over year.
• Analysts remain broadly constructive on the stock: ratings data shows an average “Moderate Buy” and an average target price of $247.03, though some firms recently trimmed price targets.

Bank Julius Baer & Co. Ltd Zurich cut its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 8.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,185 shares of the solar cell manufacturer's stock after selling 10,547 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned 0.10% of First Solar worth $29,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Linden Thomas Advisory Services LLC boosted its stake in shares of First Solar by 1.7% during the third quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer's stock valued at $504,000 after purchasing an additional 39 shares during the period. Apollon Wealth Management LLC increased its stake in shares of First Solar by 1.2% in the fourth quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer's stock worth $942,000 after buying an additional 44 shares during the period. Figure 8 Investment Strategies LLC raised its holdings in First Solar by 0.6% during the 3rd quarter. Figure 8 Investment Strategies LLC now owns 8,116 shares of the solar cell manufacturer's stock valued at $1,790,000 after buying an additional 48 shares during the last quarter. Cromwell Holdings LLC boosted its position in First Solar by 15.8% during the 4th quarter. Cromwell Holdings LLC now owns 367 shares of the solar cell manufacturer's stock valued at $96,000 after buying an additional 50 shares during the period. Finally, Rathbones Group PLC boosted its position in First Solar by 1.0% during the 3rd quarter. Rathbones Group PLC now owns 4,930 shares of the solar cell manufacturer's stock valued at $1,087,000 after buying an additional 51 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on FSLR shares. Susquehanna decreased their price objective on shares of First Solar from $280.00 to $250.00 and set a "positive" rating on the stock in a research report on Thursday, April 9th. Wall Street Zen lowered shares of First Solar from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. HSBC raised their target price on First Solar from $211.00 to $231.00 and gave the stock a "hold" rating in a research note on Tuesday, May 5th. Argus upped their price target on First Solar from $250.00 to $275.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, UBS Group dropped their price objective on First Solar from $300.00 to $290.00 and set a "buy" rating for the company in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $247.03.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $231.62 on Friday. First Solar, Inc. has a 1 year low of $135.50 and a 1 year high of $285.99. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15. The company's 50-day moving average is $199.81 and its 200 day moving average is $231.39. The stock has a market capitalization of $24.89 billion, a P/E ratio of 14.96, a P/E/G ratio of 0.52 and a beta of 1.57.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. First Solar's quarterly revenue was up 23.6% compared to the same quarter last year. During the same period last year, the business posted $1.95 earnings per share. On average, sell-side analysts expect that First Solar, Inc. will post 17.63 earnings per share for the current year.

More First Solar News

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

• Positive Sentiment: Argus raised its price target on First Solar to $275 from $250 and reiterated a buy rating, reinforcing upside expectations for FSLR. Argus Issues Positive Forecast for First Solar NASDAQ: FSLR Stock Price
• Positive Sentiment: Solar stocks are broadly stronger, with peers such as Enphase Energy and SolarEdge moving sharply higher, suggesting favorable sector sentiment that can spill over into First Solar. Enphase Energy and SolarEdge Jump 11%, Canadian Solar Sinks 10% in Lopsided Solar Stock Trade
• Positive Sentiment: First Solar’s last quarterly report beat estimates on both earnings and revenue, which continues to support the stock’s fundamental outlook. First Solar price performance and earnings data
• Neutral Sentiment: CEO Mark Widmar disclosed Rule 10b5-1 share sales, which were pre-planned but can still create a modest sentiment drag for investors. First Solar insider trading disclosure
• Neutral Sentiment: Coverage discussing China’s clean-tech retreat from the U.S. highlights the policy backdrop for solar, but the impact on FSLR is indirect and mixed. China’s $3 Billion US Clean Tech Exit Is an Investment Warning

Insider Buying and Selling

In other news, insider Kuntal Kumar Verma sold 3,426 shares of the business's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $195.93, for a total transaction of $671,256.18. Following the sale, the insider owned 8,334 shares in the company, valued at approximately $1,632,880.62. The trade was a 29.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Mark R. Widmar sold 9,926 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 95,148 shares in the company, valued at $22,189,465.08. This represents a 9.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 92,430 shares of company stock worth $18,670,055 over the last quarter. Company insiders own 0.39% of the company's stock.

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.

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