Healthcare of Ontario Pension Plan Trust Fund Increases Holdings in First Solar, Inc. $FSLR

Key Points

• Healthcare of Ontario Pension Plan Trust Fund increased its First Solar stake by 2,498.9% in the first quarter, ending with 110,244 shares valued at approximately $21.7 million. Institutional investors collectively own 92.08% of the company.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $257.10; UBS and Mizuho raised their targets to $330 and $300, respectively.
• First Solar exceeded quarterly expectations, reporting $3.22 in EPS and $1.04 billion in revenue, while year-over-year revenue increased 23.6%. However, ongoing securities-fraud litigation creates a potential legal overhang for the stock.

Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 2,498.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 110,244 shares of the solar cell manufacturer's stock after acquiring an additional 106,002 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.10% of First Solar worth $21,747,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Reflection Asset Management bought a new position in shares of First Solar in the fourth quarter worth $26,000. Commonwealth Retirement Investments LLC purchased a new position in shares of First Solar in the fourth quarter valued at $26,000. Larson Financial Group LLC raised its stake in shares of First Solar by 117.0% during the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer's stock valued at $27,000 after purchasing an additional 55 shares during the period. Elyxium Wealth LLC bought a new stake in shares of First Solar during the 4th quarter valued at $30,000. Finally, MV Capital Management Inc. purchased a new stake in First Solar during the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 92.08% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on FSLR. UBS Group lifted their target price on First Solar from $290.00 to $330.00 and gave the company a "buy" rating in a report on Thursday, June 11th. Zacks Research raised shares of First Solar from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. Morgan Stanley raised their price objective on shares of First Solar from $230.00 to $245.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Mizuho boosted their price objective on shares of First Solar from $243.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, June 12th. Finally, Weiss Ratings raised shares of First Solar from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $257.10.

First Solar Price Performance

Shares of First Solar stock opened at $202.82 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. First Solar, Inc. has a 52-week low of $171.99 and a 52-week high of $320.95. The company's 50 day moving average price is $248.59 and its 200-day moving average price is $226.61. The stock has a market capitalization of $21.79 billion, a price-to-earnings ratio of 13.10, a P/E/G ratio of 0.45 and a beta of 1.73.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, beating analysts' consensus estimates of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company earned $1.95 earnings per share. The firm's revenue for the quarter was up 23.6% on a year-over-year basis. Equities research analysts forecast that First Solar, Inc. will post 17.54 EPS for the current year.

Insider Activity at First Solar

In other First Solar news, General Counsel Jason E. Dymbort sold 409 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total value of $88,192.67. Following the transaction, the general counsel owned 10,409 shares of the company's stock, valued at approximately $2,244,492.67. This represents a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Markus Gloeckler sold 420 shares of First Solar stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $90,564.60. Following the transaction, the chief technology officer owned 10,896 shares in the company, valued at $2,349,504.48. This represents a 3.71% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 31,893 shares of company stock valued at $7,893,775 over the last ninety days. Corporate insiders own 0.39% of the company's stock.

Key Stories Impacting First Solar

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

• Positive Sentiment: Roth Capital reaffirmed its buy rating on First Solar and set a $300 price target, implying meaningful upside from current levels. Benzinga
• Positive Sentiment: Industry commentary highlighted record U.S. solar power output and rising electricity demand from AI data centers, which supports the broader solar demand narrative and could benefit First Solar over time. 24/7 Wall St.
• Neutral Sentiment: Several firms, including Rosen, Howard G. Smith, Schall, Kaplan Fox, Faruqi & Faruqi, and others, reminded investors about pending First Solar securities-fraud class actions and the August 24 lead-plaintiff deadline. PR Newswire
• Neutral Sentiment: Short-interest reporting showed no meaningful update, with the latest filing indicating zero shares reported short and a days-to-cover ratio of 0.0, so it does not appear to be a current market driver.
• Negative Sentiment: The ongoing securities-fraud litigation headlines create a legal overhang that may pressure the shares until there is more clarity on the case outcome.

About First Solar

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.

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