Gulf International Bank UK Ltd Sells 2,305 Shares of First Solar, Inc. $FSLR

Key Points

• Gulf International Bank UK Ltd has reduced its holdings in First Solar, Inc. by 29%, now owning 5,634 shares valued at $712,000.
• Several hedge funds increased their stakes in First Solar, resulting in institutional investors owning 92.08% of the company's stock.
• Analysts have upgraded First Solar's ratings, with a consensus rating of "Moderate Buy" and an average price target of $222.44.

Gulf International Bank UK Ltd cut its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 29.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,634 shares of the solar cell manufacturer's stock after selling 2,305 shares during the period. Gulf International Bank UK Ltd's holdings in First Solar were worth $712,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in 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 purchasing an additional 82 shares during the period. Linden Thomas Advisory Services LLC boosted its stake in shares of First Solar by 4.3% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 2,243 shares of the solar cell manufacturer's stock worth $284,000 after buying an additional 92 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in shares of First Solar by 7.9% in the fourth quarter. EP Wealth Advisors LLC now owns 1,293 shares of the solar cell manufacturer's stock worth $228,000 after acquiring an additional 95 shares during the period. Signaturefd LLC increased its position in First Solar by 11.6% during the first quarter. Signaturefd LLC now owns 985 shares of the solar cell manufacturer's stock valued at $125,000 after acquiring an additional 102 shares during the last quarter. Finally, Covestor Ltd increased its position in First Solar by 10.4% during the first quarter. Covestor Ltd now owns 1,096 shares of the solar cell manufacturer's stock valued at $139,000 after acquiring an additional 103 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

First Solar Price Performance

Shares of FSLR stock traded down $4.52 on Wednesday, hitting $206.44. 3,039,316 shares of the stock traded hands, compared to its average volume of 3,862,372. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $262.72. The firm has a 50 day simple moving average of $173.37 and a two-hundred day simple moving average of $154.47. The firm has a market cap of $22.14 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 0.43 and a beta of 1.48.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.50. The business had revenue of $1.10 billion during 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%.First Solar'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 business posted $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, equities research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on FSLR. TD Cowen raised their target price on First Solar from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. BMO Capital Markets increased their price objective on shares of First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of First Solar from $200.00 to $208.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Hsbc Global Res raised shares of First Solar to a "strong-buy" rating in a report on Friday, August 1st. Finally, Jefferies Financial Group set a $194.00 price target on shares of First Solar and gave the stock a "buy" rating in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, First Solar currently has an average rating of "Moderate Buy" and an average price target of $222.44.

Insider Activity

In other First Solar news, CAO Nathan B. Theurer sold 686 shares of the 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Koralewski sold 2,951 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total transaction of $466,877.71. Following the completion of the transaction, the insider directly owned 11,369 shares in the company, valued at $1,798,689.49. This trade represents a 20.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,691 shares of company stock valued at $8,248,477 in the last three months. 0.48% of the stock is currently owned by insiders.

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.