First Solar, Inc. $FSLR Shares Sold by Decade Renewable Partners LP

Key Points

• Decade Renewable Partners LP reduced its ownership in First Solar by 46.1% during the first quarter, now holding 35,290 shares valued at approximately $4.46 million.
• Several institutional investors, including Vanguard Group and Wellington Management, increased their stakes in First Solar, with Vanguard acquiring an additional 378,641 shares.
• First Solar reported a quarterly earnings per share of $3.18, exceeding the consensus estimate of $2.68, alongside a revenue of $1.10 billion, up 8.6% year-over-year.

Decade Renewable Partners LP decreased its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 46.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,290 shares of the solar cell manufacturer's stock after selling 30,131 shares during the period. First Solar makes up approximately 3.4% of Decade Renewable Partners LP's investment portfolio, making the stock its 16th largest position. Decade Renewable Partners LP's holdings in First Solar were worth $4,462,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Harvest Portfolios Group Inc. grew its position in First Solar by 3.9% in the 1st quarter. Harvest Portfolios Group Inc. now owns 1,658 shares of the solar cell manufacturer's stock valued at $210,000 after acquiring an additional 63 shares in the last quarter. Legend Financial Advisors Inc. grew its position in First Solar by 1.4% in the 1st quarter. Legend Financial Advisors Inc. now owns 4,726 shares of the solar cell manufacturer's stock valued at $598,000 after acquiring an additional 64 shares in the last quarter. Horizon Investments LLC grew its holdings in shares of First Solar by 5.1% in the first quarter. Horizon Investments LLC now owns 1,537 shares of the solar cell manufacturer's stock valued at $194,000 after purchasing an additional 74 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of First Solar by 0.7% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,348 shares of the solar cell manufacturer's stock valued at $1,435,000 after purchasing an additional 82 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC grew its holdings in shares of First Solar by 4.3% in the first quarter. Linden Thomas Advisory Services LLC now owns 2,243 shares of the solar cell manufacturer's stock valued at $284,000 after purchasing an additional 92 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

Insider Activity

In other news, insider Patrick James Buehler sold 1,600 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $180.00, for a total transaction of $288,000.00. Following the completion of the sale, the insider owned 4,398 shares in the company, valued at approximately $791,640. This represents a 26.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark R. Widmar sold 2,321 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $199.44, for a total transaction of $462,900.24. Following the sale, the chief executive officer owned 81,861 shares of the company's stock, valued at $16,326,357.84. This trade represents a 2.76% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,315 shares of company stock valued at $6,021,305. 0.48% of the stock is currently owned by company insiders.

First Solar Stock Performance

Shares of NASDAQ FSLR traded up $0.59 during trading hours on Tuesday, reaching $195.78. The stock had a trading volume of 1,932,098 shares, compared to its average volume of 3,219,378. The firm has a market cap of $21.00 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 0.39 and a beta of 1.41. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $262.72. The firm has a 50-day moving average of $181.63 and a 200-day moving average of $156.80.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.50. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The business's revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Equities research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on FSLR. Hsbc Global Res upgraded shares of First Solar to a "strong-buy" rating in a research note on Friday, August 1st. Bank of America boosted their target price on First Solar from $185.00 to $201.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Guggenheim boosted their target price on First Solar from $202.00 to $287.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. BMO Capital Markets boosted their price objective on First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, UBS Group reissued a "buy" rating and set a $275.00 price objective (up from $255.00) on shares of First Solar in a research report on Tuesday, August 5th. 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, First Solar presently has an average rating of "Moderate Buy" and an average price target of $225.84.

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.