Free Trial

Pacer Advisors Inc. Sells 3,266 Shares of First Solar, Inc. (NASDAQ:FSLR)

First Solar logo with Energy background

Key Points

  • Pacer Advisors Inc. sold 3,266 shares of First Solar, Inc., reducing its stake by 35.1% to 6,032 shares, valued at approximately $763,000.
  • Several hedge funds increased their positions in First Solar, with LPL Financial LLC and Blair William & Co. increasing their holdings by 17.9% and 25.1% respectively during the last quarter.
  • First Solar's stock recently saw a price target revision from Barclays and Piper Sandler, with Barclays lowering it from $236.00 to $204.00 while Piper Sandler reduced it from $230.00 to $205.00.
  • Need better tools to track First Solar? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Pacer Advisors Inc. trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 35.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,032 shares of the solar cell manufacturer's stock after selling 3,266 shares during the quarter. Pacer Advisors Inc.'s holdings in First Solar were worth $763,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FSLR. Huntington National Bank grew its position in shares of First Solar by 15.3% in the 4th quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer's stock worth $90,000 after acquiring an additional 68 shares in the last quarter. Evexia Wealth LLC raised its stake in First Solar by 2.1% during the 4th quarter. Evexia Wealth LLC now owns 3,481 shares of the solar cell manufacturer's stock valued at $586,000 after acquiring an additional 70 shares in the last quarter. Westpac Banking Corp raised its stake in shares of First Solar by 8.9% in the 4th quarter. Westpac Banking Corp now owns 917 shares of the solar cell manufacturer's stock worth $162,000 after buying an additional 75 shares in the last quarter. Covestor Ltd raised its stake in shares of First Solar by 8.4% in the 4th quarter. Covestor Ltd now owns 993 shares of the solar cell manufacturer's stock worth $175,000 after buying an additional 77 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of First Solar by 0.7% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,348 shares of the solar cell manufacturer's stock worth $1,435,000 after buying an additional 82 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Price Performance

FSLR traded up $3.95 during trading on Tuesday, hitting $187.37. 1,638,372 shares of the stock traded hands, compared to its average volume of 3,855,545. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $262.72. The company has a market cap of $20.09 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 0.35 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. The business has a 50 day moving average price of $166.31 and a 200 day moving average price of $152.83.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating the consensus estimate of $2.68 by $0.50. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The company's revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.25 earnings per share. Equities research analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Solar news, CTO Markus Gloeckler sold 9,557 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the sale, the chief technology officer owned 8,037 shares of the company's stock, valued at approximately $1,246,136.85. The trade was a 54.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Patrick James Buehler sold 1,600 shares of the business's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total transaction of $288,000.00. Following the sale, the insider directly owned 4,398 shares in the company, valued at approximately $791,640. The trade was a 26.68% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,976 shares of company stock valued at $2,515,172. 0.48% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FSLR has been the topic of a number of recent research reports. Susquehanna lifted their target price on First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a report on Friday. The Goldman Sachs Group lifted their price target on First Solar from $204.00 to $255.00 and gave the company a "buy" rating in a report on Monday, May 19th. TD Cowen lifted their price target on First Solar from $200.00 to $220.00 and gave the company a "buy" rating in a report on Friday. BMO Capital Markets boosted their target price on First Solar from $194.00 to $203.00 and gave the company an "outperform" rating in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their target price on First Solar from $200.00 to $208.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $222.67.

Get Our Latest Stock Report on First Solar

First Solar Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

Should You Invest $1,000 in First Solar Right Now?

Before you consider First Solar, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and First Solar wasn't on the list.

While First Solar currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 AI Stocks to Invest in Today: Capitalizing on AI and Tech Trends in 2025 Cover

Discover the top 7 AI stocks to invest in right now. This exclusive report highlights the companies leading the AI revolution and shaping the future of technology in 2025.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Growth Stock Winners to Watch And 3 to Avoid
3 Growth Stocks That Could Pop Before Summer Ends
3 Buy-the-Dip Stocks Poised to Rebound Soon

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines