Guinness Asset Management LTD Sells 19,782 Shares of First Solar, Inc. $FSLR

Key Points

• Guinness Asset Management LTD has reduced its holdings in First Solar, Inc. by 21.6%, selling 19,782 shares and leaving them with a total of 71,754 shares valued at $9.07 million.
• Major institutional investors have increased their positions in First Solar, with MIRAE ASSET GLOBAL ETFS HOLDINGS boosting their holdings by 212.4%, now owning 79,585 shares valued at approximately $14 million.
• Analysts remain bullish on First Solar, with the stock receiving multiple upgrades and a consensus price target set at $225.84, along with an average rating of "Moderate Buy."

Guinness Asset Management LTD reduced its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 21.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 71,754 shares of the solar cell manufacturer's stock after selling 19,782 shares during the period. Guinness Asset Management LTD owned 0.07% of First Solar worth $9,073,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Focus Partners Wealth lifted its holdings in First Solar by 102.2% during the fourth quarter. Focus Partners Wealth now owns 4,601 shares of the solar cell manufacturer's stock worth $855,000 after acquiring an additional 2,326 shares in the last quarter. Gotham Asset Management LLC lifted its holdings in First Solar by 25.6% during the fourth quarter. Gotham Asset Management LLC now owns 3,018 shares of the solar cell manufacturer's stock worth $532,000 after acquiring an additional 616 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in First Solar by 111.2% during the fourth quarter. Lazard Asset Management LLC now owns 526 shares of the solar cell manufacturer's stock worth $92,000 after acquiring an additional 277 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in First Solar by 212.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,585 shares of the solar cell manufacturer's stock worth $14,027,000 after acquiring an additional 54,109 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of First Solar by 4.8% in the fourth quarter. Nuveen Asset Management LLC now owns 931,774 shares of the solar cell manufacturer's stock valued at $164,216,000 after purchasing an additional 42,786 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FSLR shares. Hsbc Global Res raised First Solar to a "strong-buy" rating in a research report on Friday, August 1st. 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. Wall Street Zen upgraded First Solar from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. TD Cowen boosted their target price on First Solar from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Guggenheim boosted their target price on First Solar from $202.00 to $287.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $225.84.

First Solar Price Performance

NASDAQ:FSLR opened at $203.31 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. The stock's 50 day moving average price is $187.17 and its two-hundred day moving average price is $158.92. The firm has a market capitalization of $21.80 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 0.40 and a beta of 1.41. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.50. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates 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 for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other First Solar news, CAO Nathan B. Theurer sold 686 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total value of $124,872.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Patrick James Buehler sold 1,600 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total value of $288,000.00. Following the transaction, the insider owned 4,398 shares in the company, valued at approximately $791,640. This trade represents a 26.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,315 shares of company stock worth $6,021,305 over the last 90 days. Company insiders own 0.48% of the company's stock.

First Solar 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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