Bank of America Corp DE Lowers Stock Holdings in First Solar, Inc. $FSLR

Key Points

• Bank of America reduced its First Solar stake by 2.1%, selling 19,095 shares and retaining 880,771 shares worth approximately $173.7 million. Institutional investors collectively own 92.08% of FSLR.
• First Solar reported quarterly EPS of $3.92, beating the $2.90 consensus estimate, on revenue of about $1.06 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $254.44.
• Shares opened at $236.80, while recent developments include potential U.S. solar-material protections and continued optimism around the company’s 45-gigawatt backlog; however, securities litigation allegations and insider sales remain risks.

Bank of America Corp DE lowered its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 2.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 880,771 shares of the solar cell manufacturer's stock after selling 19,095 shares during the period. Bank of America Corp DE owned approximately 0.82% of First Solar worth $173,741,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FSLR. Geode Capital Management LLC increased its stake in shares of First Solar by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 2,919,991 shares of the solar cell manufacturer's stock worth $761,396,000 after acquiring an additional 24,206 shares during the period. Viking Global Investors LP boosted its holdings in First Solar by 60.6% in the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer's stock valued at $375,122,000 after purchasing an additional 854,919 shares in the last quarter. Amundi boosted its holdings in First Solar by 9.4% in the 4th quarter. Amundi now owns 2,215,461 shares of the solar cell manufacturer's stock valued at $578,791,000 after purchasing an additional 189,626 shares in the last quarter. Norges Bank purchased a new stake in First Solar in the 4th quarter valued at approximately $392,040,000. Finally, Schroder Investment Management Group increased its position in First Solar by 7.6% during the 4th quarter. Schroder Investment Management Group now owns 1,427,105 shares of the solar cell manufacturer's stock worth $372,803,000 after purchasing an additional 100,908 shares during the period. Hedge funds and other institutional investors own 92.08% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FSLR shares. UBS Group raised their price target on First Solar from $290.00 to $330.00 and gave the company a "buy" rating in a report on Thursday, June 11th. Oppenheimer reiterated a "market perform" rating on shares of First Solar in a research report on Friday, July 31st. Truist Financial reissued a "hold" rating and issued a $229.00 target price (down from $249.00) on shares of First Solar in a report on Friday, July 31st. Roth Capital restated a "buy" rating and set a $300.00 target price on shares of First Solar in a research report on Friday, July 24th. Finally, Weiss Ratings raised shares of First Solar from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, First Solar presently has a consensus rating of "Moderate Buy" and a consensus target price of $254.44.

First Solar News Summary

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

• Positive Sentiment: First Solar’s quarterly results exceeded expectations, with earnings per share of $3.92 versus the $2.90 consensus estimate. Revenue was approximately $1.06 billion, and management reaffirmed its outlook, supporting confidence in execution and the company’s contracted backlog. ETFs in Spotlight as First Solar Shares Jump Post Q2 Earnings Beat
• Positive Sentiment: Reports that the Trump administration may consider tariffs or a price floor for solar-panel raw materials have boosted expectations for stronger protection of U.S. manufacturers, a potential benefit to First Solar’s domestic production and pricing. Solar Policy Reports
• Positive Sentiment: Analyst optimism and substantial call-option activity indicate that some market participants continue to expect additional upside, supported by First Solar’s reported 45-gigawatt backlog and long-term growth prospects. First Solar Stock Price Expected to Rise
• Neutral Sentiment: A valuation analysis argues that FSLR may still trade below estimated intrinsic value, though such projections depend heavily on future earnings, backlog conversion and industry conditions. Is First Solar Still Reasonable After Its 45 GW Backlog?
• Negative Sentiment: Several law firms publicized a securities class action alleging that First Solar and certain officers inadequately disclosed Series 6 production underutilization, South Carolina onshoring costs and related business risks. The August 24 lead-plaintiff deadline is keeping the allegations in focus, although the claims have not been proven. Pomerantz Class Action Announcement
• Negative Sentiment: Two executives, including CTO Markus Gloeckler, sold shares under pre-arranged Rule 10b5-1 plans. While scheduled sales do not necessarily signal deteriorating fundamentals, the reduction in their holdings may add short-term investor caution.

Insider Activity at First Solar

In other First Solar news, CEO Mark R. Widmar sold 9,926 shares of First Solar stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $233.21, for a total transaction of $2,314,842.46. Following the completion of the transaction, the chief executive officer 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kuntal Kumar Verma sold 582 shares of the company's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $250.00, for a total transaction of $145,500.00. Following the completion of the sale, the insider directly owned 4,967 shares in the company, valued at $1,241,750. This trade represents a 10.49% decrease in their position. 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 38,505 shares of company stock valued at $9,398,886 in the last quarter. 0.39% of the stock is owned by corporate insiders.

First Solar Stock Performance

Shares of FSLR stock opened at $236.80 on Thursday. The stock has a fifty day moving average price of $243.32 and a 200 day moving average price of $225.08. The stock has a market cap of $25.44 billion, a PE ratio of 14.60, a P/E/G ratio of 0.53 and a beta of 1.75. First Solar, Inc. has a 1 year low of $176.47 and a 1 year high of $320.95.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share for the quarter, beating analysts' consensus estimates of $2.90 by $1.02. First Solar had a return on equity of 18.02% and a net margin of 32.47%.The business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter last year, the business posted $3.18 earnings per share. The business's revenue for the quarter was down 3.4% on a year-over-year basis. As a group, equities research analysts predict that First Solar, Inc. will post 17.74 earnings per share for the current year.

First Solar Profile

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.

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.

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