K2 Principal Fund L.P. Trims Holdings in First Solar, Inc. $FSLR

Key Points

• K2 Principal Fund L.P. reduced its First Solar stake by 32.4% in the fourth quarter, selling 9,000 shares and leaving it with 18,750 shares worth about $4.9 million.
• Several other institutional investors also made smaller changes to their positions, and overall institutional ownership in First Solar remains very high at 92.08%.
• Analyst sentiment remains constructive: multiple firms raised price targets, including Mizuho to $300 and UBS to $330, while First Solar also beat quarterly EPS and revenue estimates in its latest earnings report.

K2 Principal Fund L.P. trimmed its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 32.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,750 shares of the solar cell manufacturer's stock after selling 9,000 shares during the quarter. K2 Principal Fund L.P.'s holdings in First Solar were worth $4,898,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC increased its holdings in First Solar by 1.2% in the 4th quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer's stock worth $942,000 after acquiring an additional 44 shares in the last quarter. Root Financial Partners LLC increased its holdings in First Solar by 18.2% in the 4th quarter. Root Financial Partners LLC now owns 292 shares of the solar cell manufacturer's stock worth $76,000 after acquiring an additional 45 shares in the last quarter. Fielder Capital Group LLC increased its holdings in First Solar by 4.1% in the 4th quarter. Fielder Capital Group LLC now owns 1,196 shares of the solar cell manufacturer's stock worth $312,000 after acquiring an additional 47 shares in the last quarter. Burford Brothers Inc. increased its holdings in First Solar by 0.3% in the 4th quarter. Burford Brothers Inc. now owns 19,080 shares of the solar cell manufacturer's stock worth $4,984,000 after acquiring an additional 48 shares in the last quarter. Finally, Cromwell Holdings LLC increased its holdings in First Solar by 15.8% in the 4th quarter. Cromwell Holdings LLC now owns 367 shares of the solar cell manufacturer's stock worth $96,000 after acquiring an additional 50 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Mark R. Widmar sold 4,815 shares of First Solar stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $247.43, for a total transaction of $1,191,375.45. Following the completion of the sale, the chief executive officer directly owned 89,033 shares in the company, valued at approximately $22,029,435.19. This trade represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alexander R. Bradley sold 498 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 value of $107,383.74. Following the sale, the chief financial officer owned 30,712 shares of the company's stock, valued at approximately $6,622,428.56. This trade represents a 1.60% decrease in their ownership of the stock. 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 sold 60,694 shares of company stock valued at $13,659,583 over the last 90 days. 0.39% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FSLR. Argus increased their price objective on shares of First Solar from $250.00 to $275.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. BMO Capital Markets cut their price objective on shares of First Solar from $252.00 to $237.00 and set a "market perform" rating for the company in a report on Monday, April 20th. Royal Bank Of Canada cut their price objective on shares of First Solar from $258.00 to $236.00 and set an "outperform" rating for the company in a report on Wednesday, February 25th. Freedom Capital raised shares of First Solar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 5th. Finally, HSBC increased their price objective on shares of First Solar from $211.00 to $231.00 and gave the company a "hold" rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $250.99.

Key Stories Impacting First Solar

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

• Positive Sentiment: Mizuho raised its price target on First Solar to $300 from $243, implying meaningful upside from recent trading levels and reinforcing confidence in the company’s outlook. Mizuho price target update
• Positive Sentiment: UBS Group also lifted its price target to $330 from $290 and maintained a buy rating, signaling continued optimism around First Solar’s growth prospects. UBS analyst update
• Positive Sentiment: Analyst commentary this week highlighted that First Solar has outperformed the S&P 500 over the past year, with sentiment remaining moderately bullish on the stock’s longer-term growth potential.
• Neutral Sentiment: One recent market article compared First Solar’s performance with the broader S&P 500, underscoring that the stock is still being closely watched by investors for relative performance trends. First Solar vs. S&P 500 article
• Neutral Sentiment: A separate note said First Solar declined while the broader market improved, suggesting the move may reflect normal trading volatility rather than a company-specific negative catalyst. Zacks market comparison article

First Solar Trading Down 1.4%

FSLR stock opened at $267.31 on Friday. The firm has a fifty day moving average price of $231.95 and a 200 day moving average price of $233.65. First Solar, Inc. has a fifty-two week low of $135.50 and a fifty-two week high of $320.95. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. The firm has a market cap of $28.72 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 0.59 and a beta of 1.71.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.87 by $0.35. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.First Solar's revenue was up 23.6% on a year-over-year basis. During the same period last year, the company earned $1.95 earnings per share. Sell-side analysts anticipate that First Solar, Inc. will post 17.61 earnings per share for the current fiscal year.

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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