Blue Jean Financial LLC Acquires New Holdings in First Solar, Inc. $FSLR

Key Points

• Blue Jean Financial LLC opened a new position in First Solar during the fourth quarter, buying 5,893 shares valued at about $1.54 million.
• Institutional ownership remains very heavy, with multiple large funds adding or expanding stakes and 92.08% of First Solar’s stock now held by institutions and hedge funds.
• Analysts have turned more optimistic: Mizuho lifted its price target to $300 and UBS raised its target to $330 while keeping a buy rating, following First Solar’s stronger-than-expected quarterly earnings.

Blue Jean Financial LLC acquired a new stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 5,893 shares of the solar cell manufacturer's stock, valued at approximately $1,539,000.

Several other institutional investors and hedge funds have also modified their holdings of FSLR. Norges Bank acquired a new position in shares of First Solar in the 4th quarter valued at approximately $392,040,000. Viking Global Investors LP grew its position in shares of 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 during the period. Lightrock Netherlands B.V. grew its position in shares of First Solar by 2,663.8% in the 4th quarter. Lightrock Netherlands B.V. now owns 666,307 shares of the solar cell manufacturer's stock valued at $174,059,000 after purchasing an additional 642,199 shares during the period. Amundi grew its position in shares of First Solar by 38.6% in the 3rd quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer's stock valued at $459,917,000 after purchasing an additional 564,032 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of First Solar by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer's stock valued at $3,026,108,000 after purchasing an additional 464,130 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at First Solar

In other news, CFO Alexander R. Bradley sold 498 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $107,383.74. Following the sale, the chief financial officer owned 30,712 shares in the company, valued at $6,622,428.56. This represents a 1.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Georges Antoun sold 566 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total value of $122,046.58. Following the sale, the insider owned 19,918 shares in the company, valued at approximately $4,294,918.34. This represents a 2.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 60,694 shares of company stock worth $13,659,583. Insiders own 0.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FSLR shares. Evercore upped their price target on First Solar from $212.00 to $219.00 in a research report on Monday, May 4th. Mizuho upped their price target on First Solar from $243.00 to $300.00 in a research report on Friday. Zacks Research raised First Solar from a "strong sell" rating to a "hold" rating in a research report on Monday, April 27th. Jefferies Financial Group reduced their price target on First Solar from $205.00 to $187.00 and set a "hold" rating for the company in a research report on Tuesday, April 7th. Finally, UBS Group upped their price target on First Solar from $290.00 to $330.00 and gave the stock a "buy" rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, First Solar has a consensus rating of "Moderate Buy" and an average target price of $250.99.

First Solar Trading Down 1.4%

NASDAQ:FSLR opened at $267.31 on Friday. First Solar, Inc. has a twelve month low of $135.50 and a twelve month high of $320.95. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average price of $231.95 and a two-hundred day moving average price of $233.65. The company has a market cap of $28.72 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 0.59 and a beta of 1.71.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the prior year, the business posted $1.95 EPS. The business's revenue was up 23.6% compared to the same quarter last year. As a group, analysts expect that First Solar, Inc. will post 17.61 EPS for the current fiscal year.

First Solar News Summary

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

• Positive Sentiment: Mizuho raised its price target on First Solar to $300 from $243, implying meaningful upside from recent trading levels and reinforcing confidence in the company’s outlook. Mizuho price target update
• Positive Sentiment: UBS Group also lifted its price target to $330 from $290 and maintained a buy rating, signaling continued optimism around First Solar’s growth prospects. UBS analyst update
• Positive Sentiment: Analyst commentary this week highlighted that First Solar has outperformed the S&P 500 over the past year, with sentiment remaining moderately bullish on the stock’s longer-term growth potential.
• Neutral Sentiment: One recent market article compared First Solar’s performance with the broader S&P 500, underscoring that the stock is still being closely watched by investors for relative performance trends. First Solar vs. S&P 500 article
• Neutral Sentiment: A separate note said First Solar declined while the broader market improved, suggesting the move may reflect normal trading volatility rather than a company-specific negative catalyst. Zacks market comparison article

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.

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.