Groupe la Francaise Cuts Holdings in First Solar, Inc. $FSLR

Key Points

• Groupe la Francaise has reduced its stake in First Solar, Inc. by 6.0%, selling 3,718 shares and now owning approximately 0.05% of the company, valued at $7,385,000.
• Several institutional investors have made significant changes in their positions in First Solar, including Larson Financial Group, which increased its stake by 591.9%.
• A number of brokerages have upgraded their ratings for First Solar, with Guggenheim raising the price target from $202 to $287 and maintaining a "buy" rating.

Groupe la Francaise decreased its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 6.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,330 shares of the solar cell manufacturer's stock after selling 3,718 shares during the period. Groupe la Francaise owned approximately 0.05% of First Solar worth $7,385,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Garde Capital Inc. purchased a new position in shares of First Solar during the first quarter valued at about $25,000. Colonial Trust Advisors purchased a new position in shares of First Solar during the first quarter valued at about $32,000. Larson Financial Group LLC grew its position in shares of First Solar by 591.9% during the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock valued at $32,000 after purchasing an additional 219 shares in the last quarter. Banque Transatlantique SA purchased a new position in shares of First Solar during the fourth quarter valued at about $53,000. Finally, Abound Financial LLC purchased a new position in shares of First Solar during the first quarter valued at about $45,000. Hedge funds and other institutional investors own 92.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FSLR. Guggenheim increased their price target on shares of First Solar from $202.00 to $287.00 and gave the company a "buy" rating in a report on Friday. Wall Street Zen raised shares of First Solar from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Bank of America increased their price target on shares of First Solar from $185.00 to $201.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. TD Cowen increased their price target on shares of First Solar from $200.00 to $220.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Susquehanna increased their price target on shares of First Solar from $203.00 to $222.00 and gave the company a "positive" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $225.84.

Insider Buying and Selling at First Solar

In other news, CAO Nathan B. Theurer sold 686 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Patrick James Buehler sold 1,868 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $149.08, for a total transaction of $278,481.44. Following the transaction, the insider directly owned 5,998 shares in the company, valued at approximately $894,181.84. This trade represents a 23.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,691 shares of company stock valued at $8,248,477. 0.48% of the stock is owned by corporate insiders.

First Solar Stock Up 5.4%

Shares of NASDAQ FSLR opened at $202.28 on Friday. 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 company has a market cap of $21.69 billion, a P/E ratio of 17.30, a PEG ratio of 0.38 and a beta of 1.48. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $262.72. The firm has a 50-day simple moving average of $175.17 and a two-hundred day simple moving average of $155.25.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, topping 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 firm's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

First Solar Company Profile

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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