Citizens Financial Group Inc. RI Acquires New Position in First Solar, Inc. $FSLR

Key Points

• Citizens Financial Group opened a new position in First Solar, buying 27,222 shares valued at about $5.37 million in the first quarter.
• First Solar reported better-than-expected quarterly results, with EPS of $3.22 versus estimates of $2.87 and revenue of $1.04 billion, up 23.6% year over year.
• Analysts remain mixed but generally positive, with a Moderate Buy consensus and an average price target of $254.31, while recent headlines also included some class-action/legal concerns and insider share sales.

Citizens Financial Group Inc. RI acquired a new stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 27,222 shares of the solar cell manufacturer's stock, valued at approximately $5,370,000.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of First Solar in the fourth quarter valued at approximately $392,040,000. Viking Global Investors LP increased its holdings in shares of First Solar by 60.6% in the second 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 last quarter. Polar Capital Holdings Plc purchased a new position in First Solar during the fourth quarter worth approximately $200,109,000. Lightrock Netherlands B.V. lifted its position in First Solar by 2,663.8% during the fourth quarter. Lightrock Netherlands B.V. now owns 666,307 shares of the solar cell manufacturer's stock worth $174,059,000 after buying an additional 642,199 shares in the last quarter. Finally, Amundi lifted its position in First Solar by 38.6% during the third quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer's stock worth $459,917,000 after buying an additional 564,032 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $227.83 on Monday. The firm has a market cap of $24.48 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 0.50 and a beta of 1.73. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. First Solar, Inc. has a 52-week low of $159.85 and a 52-week high of $320.95. The business's 50 day moving average is $250.91 and its two-hundred day moving average is $230.60.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 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 period in the prior year, the firm earned $1.95 earnings per share. The firm's revenue was up 23.6% compared to the same quarter last year. Research analysts predict that First Solar, Inc. will post 17.6 EPS for the current year.

Wall Street Analysts Forecast Growth

FSLR has been the subject of several analyst reports. Sanford C. Bernstein restated an "underperform" rating on shares of First Solar in a report on Friday, June 26th. Evercore lifted their target price on shares of First Solar from $212.00 to $219.00 in a research note on Monday, May 4th. 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 note on Wednesday, May 13th. Finally, Barclays lowered their price target on First Solar from $228.00 to $213.00 and set an "overweight" rating for the company in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $254.31.

Key Stories Impacting First Solar

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

• Positive Sentiment: Susquehanna raised its price target on First Solar to $270 from $250 and maintained a positive rating, signaling continued analyst confidence in the stock’s upside potential. Benzinga report on Susquehanna price target increase
• Neutral Sentiment: Zacks highlighted First Solar as a strong value stock, which may support the longer-term investment case but is unlikely to move the shares on its own. Zacks value stock article
• Negative Sentiment: Multiple law firms issued class-action reminders and lead-plaintiff deadline alerts tied to First Solar, reinforcing legal uncertainty and potential investor concern around the company. Newsfile class action alert
• Negative Sentiment: Recent coverage also tied the stock’s weakness to the earlier steep selloff and reduced 2026 guidance, which continues to hang over sentiment. PR Newswire class action alert

Insider Activity

In related news, insider Kuntal Kumar Verma sold 582 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $250.00, for a total transaction of $145,500.00. Following the transaction, the insider owned 4,967 shares of the company's stock, valued at approximately $1,241,750. This represents a 10.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Caroline Stockdale sold 10,628 shares of the firm's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $275.60, for a total value of $2,929,076.80. Following the transaction, the insider owned 23,792 shares of the company's stock, valued at $6,557,075.20. This trade represents a 30.88% 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 32,466 shares of company stock worth $8,014,105 in the last quarter. Insiders own 0.39% of the company's stock.

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.