BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 17,611 Shares of First Solar, Inc. $FSLR

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp has decreased its stake in First Solar, Inc. by 25.3%, selling 17,611 shares and holding 51,952 shares valued at approximately $6.57 million.
• Analysts are optimistic about First Solar's future, with recent price targets ranging from $200.00 to $278.00, indicating a strong performance outlook.
• Insider selling at First Solar has been notable, with two insiders selling a combined total of 4,819 shares recently, reflecting a trend of decreased ownership among company insiders.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 25.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,952 shares of the solar cell manufacturer's stock after selling 17,611 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in First Solar were worth $6,568,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Garde Capital Inc. bought a new stake in First Solar during the first quarter valued at about $25,000. Larson Financial Group LLC boosted its stake in shares of First Solar by 591.9% in the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock worth $32,000 after acquiring an additional 219 shares during the period. Colonial Trust Advisors purchased a new stake in shares of First Solar during the first quarter worth about $32,000. Abound Financial LLC purchased a new stake in shares of First Solar during the first quarter worth about $45,000. Finally, Princeton Global Asset Management LLC bought a new stake in First Solar during the 1st quarter valued at approximately $51,000. Hedge funds and other institutional investors own 92.08% of the company's stock.

Insider Activity

In related news, CEO Mark R. Widmar sold 23,912 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the transaction, the chief executive officer directly owned 87,978 shares in the company, valued at approximately $16,317,279.66. This represents a 21.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Koralewski sold 2,951 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $158.21, for a total transaction of $466,877.71. Following the completion of the sale, the insider directly owned 11,369 shares in the company, valued at $1,798,689.49. This trade represents a 20.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,134 shares of company stock worth $6,766,664. 0.48% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Truist Financial reaffirmed a "buy" rating and set a $200.00 price objective (down from $245.00) on shares of First Solar in a report on Thursday, May 1st. JPMorgan Chase & Co. upped their target price on shares of First Solar from $200.00 to $208.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Hsbc Global Res raised shares of First Solar to a "strong-buy" rating in a research note on Friday, August 1st. Wolfe Research upgraded shares of First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price target on the stock in a research note on Tuesday, May 13th. Finally, Glj Research reissued a "buy" rating and set a $214.06 price objective (up previously from $172.53) on shares of First Solar in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $225.84.

First Solar Trading Down 0.7%

FSLR stock traded down $1.29 during midday trading on Friday, reaching $195.73. 938,508 shares of the company traded hands, compared to its average volume of 3,812,660. The firm has a market capitalization of $20.99 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 0.38 and a beta of 1.48. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The business has a 50 day moving average of $178.72 and a 200-day moving average of $156.09. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.50. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company posted $3.25 EPS. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, sell-side analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

First Solar Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.