First Solar, Inc. $FSLR Stake Increased by Mirova

Key Points

• Mirova boosted its First Solar stake by 173.2% in Q3 to 132,536 shares, making FSLR its 5th largest holding; institutional investors own 92.08% of the stock, with Vanguard holding ~13.7M shares (~$3.03B), indicating heavy institutional accumulation.
• Concentrated insider selling is a red flag—insiders sold 75,989 shares worth $14.92M over the past three months, including large reductions by the CFO, general counsel and CEO, amplifying negative investor sentiment.
• Wall Street's consensus is a Moderate Buy with a $248.17 target; recent results showed an EPS miss ($4.84 vs. $5.22) but revenue beat ($1.68B), and the stock trades at a PE of 13.92 with a $21.23B market cap.

Mirova boosted its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 173.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 132,536 shares of the solar cell manufacturer's stock after acquiring an additional 84,025 shares during the quarter. First Solar comprises approximately 4.1% of Mirova's portfolio, making the stock its 5th biggest holding. Mirova owned about 0.12% of First Solar worth $29,228,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FSLR. Vanguard Group Inc. boosted its position in shares of First Solar by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer's stock worth $3,026,108,000 after purchasing an additional 464,130 shares in the last quarter. State Street Corp increased its holdings in shares of First Solar by 2.1% in the 2nd quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer's stock valued at $881,680,000 after purchasing an additional 111,927 shares in the last quarter. Viking Global Investors LP increased its holdings in shares of First Solar by 60.6% in the 2nd 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 in the last quarter. Amundi lifted its stake in shares of First Solar by 38.6% in the third quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer's stock valued at $459,917,000 after purchasing an additional 564,032 shares during the period. Finally, Schroder Investment Management Group lifted its stake in shares of First Solar by 3.7% in the second quarter. Schroder Investment Management Group now owns 1,350,084 shares of the solar cell manufacturer's stock valued at $223,493,000 after purchasing an additional 47,646 shares during the period. Institutional investors and hedge funds own 92.08% of the company's stock.

Insiders Place Their Bets

In related news, insider Caroline Stockdale sold 335 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $200.80, for a total transaction of $67,268.00. Following the sale, the insider owned 34,060 shares of the company's stock, valued at $6,839,248. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Jason E. Dymbort sold 9,022 shares of the business's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $199.62, for a total transaction of $1,800,971.64. Following the completion of the transaction, the general counsel directly owned 9,850 shares of the company's stock, valued at $1,966,257. The trade was a 47.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 75,989 shares of company stock valued at $14,921,902. Insiders own 0.48% of the company's stock.

Wall Street Analyst Weigh In

FSLR has been the topic of several recent analyst reports. HSBC restated a "hold" rating and set a $211.00 target price (down from $280.00) on shares of First Solar in a research report on Wednesday, February 25th. Daiwa Securities Group boosted their price target on First Solar from $215.00 to $284.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 9th. JPMorgan Chase & Co. lowered their price target on First Solar from $303.00 to $256.00 and set an "overweight" rating on the stock in a report on Wednesday, February 25th. Guggenheim dropped their price objective on First Solar from $312.00 to $269.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, Royal Bank Of Canada reduced their price objective on First Solar from $258.00 to $236.00 and set an "outperform" rating for the company in a report on Wednesday, February 25th. Twenty research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $248.17.

Key Headlines Impacting First Solar

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

• Positive Sentiment: Guggenheim kept a Buy rating and trimmed its price target to $269 (from $312) — still implying sizable upside and signaling institutional conviction despite the cut. Guggenheim price target update
• Positive Sentiment: Polen Capital highlighted First Solar’s CdTe technology and favorable policy momentum ("One Big Beautiful Bill"), reinforcing the company's competitive positioning in utility-scale solar. Polen Capital investor letter
• Positive Sentiment: Several media/analyst pieces continue to label FSLR undervalued on forward P/E metrics, which can attract value-focused buyers and support mean‑reversion. Undervalued renewable energy roundup
• Neutral Sentiment: Evercore ISI lowered its price target to $212 (from $241) but retained an In‑Line rating — a recalibration rather than a downgrade that may temper upside expectations. Evercore ISI price target cut
• Neutral Sentiment: Small, routine insider sales were reported (e.g., CAO Nathan Theurer sold 96 shares); such filings are common and often reflect personal liquidity rather than a signal on fundamentals. InsiderTrades CAO sale
• Negative Sentiment: Concentrated executive selling: multiple senior officers — notably the CFO (large 14,106‑share sale), General Counsel and CEO — disclosed significant reductions in positions. Clustered large sales from top executives are amplifying negative sentiment and raising investor questions. CFO Form 4
• Negative Sentiment: Pomerantz LLP issued an investor alert announcing an investigation into First Solar, introducing legal risk and potential headline‑driven volatility that investors should monitor closely. Pomerantz investor alert

First Solar Stock Down 1.3%

Shares of NASDAQ FSLR opened at $197.81 on Thursday. The firm's 50-day moving average is $223.56 and its two-hundred day moving average is $236.24. The company has a market capitalization of $21.23 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 0.35 and a beta of 1.65. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $285.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.67 and a quick ratio of 2.35.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.22 by ($0.38). First Solar had a return on equity of 17.32% and a net margin of 29.28%.The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the firm earned $3.65 earnings per share. The company's revenue for the quarter was up 11.1% on a year-over-year basis. Equities analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

First Solar Company 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.

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