First Solar, Inc. $FSLR Stock Position Increased by Glenmede Trust Co. NA

Key Points

• Glenmede Trust Co. NA increased its First Solar position by 113% in the first quarter, owning 9,386 shares valued at approximately $1.85 million. Institutional investors collectively hold 92.08% of the company’s stock.
• First Solar reported quarterly EPS of $3.92, beating the $2.90 consensus estimate, while revenue reached $1.06 billion. However, revenue declined 3.4% year over year, and shares recently traded at $236.80, down 2.8%.
• Wall Street maintains a “Moderate Buy” consensus with a $254.44 average price target, although insiders have sold shares under pre-arranged trading plans and the company faces disclosed securities-litigation allegations that remain unproven.

Glenmede Trust Co. NA increased its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 113.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,386 shares of the solar cell manufacturer's stock after buying an additional 4,980 shares during the quarter. Glenmede Trust Co. NA's holdings in First Solar were worth $1,851,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of FSLR. Commonwealth Retirement Investments LLC bought a new stake in First Solar in the fourth quarter worth about $26,000. Reflection Asset Management bought a new stake in First Solar during the fourth quarter worth approximately $26,000. Strategic Wealth Investment Group LLC bought a new stake in First Solar during the second quarter worth approximately $26,000. Larson Financial Group LLC grew its position in First Solar by 117.0% in the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer's stock worth $27,000 after buying an additional 55 shares during the last quarter. Finally, Elyxium Wealth LLC acquired a new position in First Solar in the fourth quarter worth approximately $30,000. Institutional investors own 92.08% of the company's stock.

First Solar Trading Down 2.8%

NASDAQ FSLR opened at $236.80 on Thursday. The company has a market cap of $25.44 billion, a P/E ratio of 14.60, a P/E/G ratio of 0.53 and a beta of 1.75. The company has a fifty day simple moving average of $243.32 and a 200 day simple moving average of $225.08. First Solar, Inc. has a 1 year low of $176.47 and a 1 year high of $320.95.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share (EPS) 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 business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the firm posted $3.18 earnings per share. First Solar's revenue was down 3.4% compared to the same quarter last year. Equities research analysts forecast that First Solar, Inc. will post 17.74 EPS for the current fiscal year.

Key First Solar News

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

• Positive Sentiment: First Solar’s quarterly results exceeded expectations, with earnings per share of $3.92 versus the $2.90 consensus estimate. Revenue was approximately $1.06 billion, and management reaffirmed its outlook, supporting confidence in execution and the company’s contracted backlog. ETFs in Spotlight as First Solar Shares Jump Post Q2 Earnings Beat
• Positive Sentiment: Reports that the Trump administration may consider tariffs or a price floor for solar-panel raw materials have boosted expectations for stronger protection of U.S. manufacturers, a potential benefit to First Solar’s domestic production and pricing. Solar Policy Reports
• Positive Sentiment: Analyst optimism and substantial call-option activity indicate that some market participants continue to expect additional upside, supported by First Solar’s reported 45-gigawatt backlog and long-term growth prospects. First Solar Stock Price Expected to Rise
• Neutral Sentiment: A valuation analysis argues that FSLR may still trade below estimated intrinsic value, though such projections depend heavily on future earnings, backlog conversion and industry conditions. Is First Solar Still Reasonable After Its 45 GW Backlog?
• Negative Sentiment: Several law firms publicized a securities class action alleging that First Solar and certain officers inadequately disclosed Series 6 production underutilization, South Carolina onshoring costs and related business risks. The August 24 lead-plaintiff deadline is keeping the allegations in focus, although the claims have not been proven. Pomerantz Class Action Announcement
• Negative Sentiment: Two executives, including CTO Markus Gloeckler, sold shares under pre-arranged Rule 10b5-1 plans. While scheduled sales do not necessarily signal deteriorating fundamentals, the reduction in their holdings may add short-term investor caution.

Insider Activity at First Solar

In other news, CTO Markus Gloeckler sold 829 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $248.00, for a total transaction of $205,592.00. Following the sale, the chief technology officer directly owned 6,642 shares in the company, valued at approximately $1,647,216. The trade was a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark R. Widmar sold 4,815 shares of the company's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $247.43, for a total value of $1,191,375.45. Following the completion of the transaction, the chief executive officer owned 89,033 shares of the company's stock, valued at $22,029,435.19. The trade was a 5.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 38,505 shares of company stock worth $9,398,886 in the last three months. Company insiders own 0.39% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FSLR. HSBC increased their price objective on First Solar from $211.00 to $231.00 and gave the company a "hold" rating in a research report on Tuesday, May 5th. Truist Financial restated a "hold" rating and issued a $229.00 target price (down from $249.00) on shares of First Solar in a report on Friday, July 31st. Morgan Stanley boosted their target price on First Solar from $230.00 to $245.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Jefferies Financial Group set a $196.00 target price on First Solar in a report on Monday. Finally, Sanford C. Bernstein cut their price objective on First Solar from $217.00 to $197.00 and set an "underperform" rating on the stock in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $254.44.

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.

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.

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