Empowered Funds LLC Acquires New Stake in First Solar, Inc. $FSLR

Empowered Funds LLC acquired a new position in First Solar, Inc. (NASDAQ:FSLR - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 70,810 shares of the solar cell manufacturer's stock, valued at approximately $16,708,000. Empowered Funds LLC owned 0.07% of First Solar as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Woodline Partners LP raised its position in First Solar by 40.7% in the first quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer's stock worth $1,143,000 after acquiring an additional 2,615 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of First Solar by 50.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 516 shares of the solar cell manufacturer's stock valued at $85,000 after acquiring an additional 174 shares during the period. Brown Advisory Inc. increased its stake in shares of First Solar by 84.3% in the 2nd quarter. Brown Advisory Inc. now owns 4,529 shares of the solar cell manufacturer's stock worth $750,000 after purchasing an additional 2,072 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of First Solar in the 2nd quarter worth $494,000. Finally, AXA S.A. increased its stake in shares of First Solar by 6.3% in the 2nd quarter. AXA S.A. now owns 18,862 shares of the solar cell manufacturer's stock worth $3,122,000 after purchasing an additional 1,115 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

First Solar Price Performance

Shares of FSLR opened at $204.46 on Friday. The stock has a market capitalization of $21.97 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 0.46 and a beta of 1.75. First Solar, Inc. has a 1 year low of $182.99 and a 1 year high of $320.95. The business's 50 day simple moving average is $223.42 and its 200-day simple moving average is $223.38.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share for the quarter, topping analysts' consensus estimates of $2.90 by $1.02. First Solar had a net margin of 32.47% and a return on equity of 18.02%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm posted $3.18 EPS. The business's quarterly revenue was down 3.4% on a year-over-year basis. On average, sell-side analysts expect that First Solar, Inc. will post 17.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of analyst reports. Freedom Capital raised First Solar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 5th. HSBC upgraded shares of First Solar from a "hold" rating to a "buy" rating in a research note on Friday, August 7th. Morgan Stanley upped their price target on shares of First Solar from $245.00 to $323.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 18th. Wells Fargo & Company raised their price objective on shares of First Solar from $300.00 to $313.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Finally, Weiss Ratings upgraded shares of First Solar from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $266.27.

Key Headlines Impacting First Solar

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

• Positive Sentiment: BMO upgraded First Solar to Outperform and raised its price target to $263 from $237, implying substantial upside from the reference price. BMO reportedly believes the market reaction to the latest Section 232 tariff developments was overdone. BMO upgrades First Solar as tariff selloff looks overdone
• Positive Sentiment: Argus reiterated a Buy rating on First Solar, reinforcing the view that the company’s valuation and long-term growth prospects remain attractive despite recent volatility. Argus reiterates Buy rating for First Solar
• Positive Sentiment: A climate-finance expert said Wall Street may have misinterpreted the market’s response to the latest solar-tariff announcement, potentially easing concerns that trade policy will materially damage First Solar’s outlook. Wall Street misread the solar tariffs
• Positive Sentiment: An emergency order restricting certain foreign bulk-power-system equipment and software could benefit U.S. solar and energy-equipment manufacturers by supporting domestic suppliers, although the direct impact on First Solar is uncertain. Why solar stocks were rising overnight
• Neutral Sentiment: First Solar’s latest quarterly results exceeded earnings expectations, but revenue declined year over year, leaving investors focused on policy developments and future demand rather than the reported quarter.
• Negative Sentiment: Jim Cramer advised investors to stay away from First Solar, while Evercore ISI maintained an In-Line rating and trimmed its price target to $218, highlighting continued analyst disagreement and near-term uncertainty. Jim Cramer comments on First Solar

Insider Activity

In related news, insider Michael Koralewski sold 7,000 shares of First Solar stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $221.51, for a total transaction of $1,550,570.00. Following the completion of the sale, the insider owned 7,642 shares in the company, valued at $1,692,779.42. This trade represents a 47.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jason E. Dymbort sold 3,700 shares of First Solar stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $249.38, for a total transaction of $922,706.00. Following the sale, the general counsel directly owned 5,624 shares of the company's stock, valued at $1,402,513.12. This represents a 39.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 15,081 shares of company stock worth $3,457,086 in the last ninety days. 0.39% of the stock is currently owned by company insiders.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source