Erste Asset Management GmbH Reduces Stock Position in First Solar, Inc. $FSLR

Key Points

• Erste Asset Management GmbH reduced its stock position in First Solar, Inc. by 5.5%, owning 247,036 shares valued at approximately $31.45 million after selling 14,460 shares in the first quarter.
• Insider trading activity included notable sales by CEO Mark R. Widmar, who sold 23,912 shares for over $4.43 million, and insider Michael Koralewski, who sold 2,951 shares valued at $466,877.
• Analysts have mixed reviews on First Solar, with price target estimates ranging from $100 to $223, while the stock currently has a consensus rating of "Moderate Buy" and an average target of $222.44.

Erste Asset Management GmbH lessened its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 247,036 shares of the solar cell manufacturer's stock after selling 14,460 shares during the quarter. Erste Asset Management GmbH owned 0.23% of First Solar worth $31,451,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of FSLR. Raymond James Financial Inc. purchased a new stake in shares of First Solar in the fourth quarter worth about $4,933,000. Jump Financial LLC purchased a new stake in shares of First Solar in the fourth quarter worth about $376,000. NewEdge Advisors LLC boosted its stake in shares of First Solar by 10.5% in the fourth quarter. NewEdge Advisors LLC now owns 9,733 shares of the solar cell manufacturer's stock worth $1,715,000 after buying an additional 924 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of First Solar by 213.7% in the fourth quarter. Canada Pension Plan Investment Board now owns 4,476 shares of the solar cell manufacturer's stock worth $789,000 after buying an additional 3,049 shares during the last quarter. Finally, GeoWealth Management LLC boosted its stake in shares of First Solar by 16.9% in the fourth quarter. GeoWealth Management LLC now owns 929 shares of the solar cell manufacturer's stock worth $164,000 after buying an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

Insider Buying and Selling at First Solar

In other First Solar news, insider Michael Koralewski sold 2,951 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 11,369 shares of the company's stock, valued at $1,798,689.49. This represents a 20.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 23,912 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total value of $4,434,958.64. Following the transaction, the chief executive officer directly owned 87,978 shares of the company's stock, valued at $16,317,279.66. The trade was a 21.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,691 shares of company stock valued at $8,248,477. 0.48% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FSLR has been the topic of a number of recent research reports. KeyCorp downgraded First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 target price on the stock. in a research note on Wednesday, April 30th. TD Cowen upped their target price on First Solar from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Morgan Stanley set a $223.00 price target on First Solar and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Royal Bank Of Canada upped their price target on First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. Finally, Wall Street Zen raised First Solar from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $222.44.

First Solar Price Performance

Shares of First Solar stock opened at $210.96 on Wednesday. The business has a 50 day simple moving average of $173.37 and a two-hundred day simple moving average of $154.47. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $262.72. The stock has a market capitalization of $22.63 billion, a P/E ratio of 18.05, a PEG ratio of 0.43 and a beta of 1.48. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.50. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the prior year, the firm earned $3.25 earnings per share. The business's revenue 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, analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

About First Solar

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.

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