LGT Fund Management Co Ltd. Sells 4,785 Shares of First Solar, Inc. $FSLR

Key Points

• LGT Fund Management Co Ltd. reduced its stake in First Solar, selling 4,785 shares, resulting in a 17.8% decrease in its holdings during the second quarter.
• First Solar's stock opened at $230.13, with a market capitalization of $24.68 billion, despite showing a decrease of 0.9% recently.
• The company reported $3.18 earnings per share for the last quarter, exceeding analysts' expectations, and anticipates earnings of 13.500-16.500 EPS for FY 2025.

LGT Fund Management Co Ltd. lessened its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 17.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,130 shares of the solar cell manufacturer's stock after selling 4,785 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in First Solar were worth $3,663,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in First Solar by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer's stock valued at $1,668,919,000 after acquiring an additional 378,641 shares in the last quarter. Wellington Management Group LLP lifted its position in First Solar by 17.2% in the 1st quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer's stock valued at $349,617,000 after acquiring an additional 405,457 shares in the last quarter. Invesco Ltd. lifted its position in First Solar by 32.3% in the 1st quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer's stock valued at $306,909,000 after acquiring an additional 592,444 shares in the last quarter. Samlyn Capital LLC lifted its position in First Solar by 6.3% in the 1st quarter. Samlyn Capital LLC now owns 1,741,794 shares of the solar cell manufacturer's stock valued at $220,215,000 after acquiring an additional 103,403 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in First Solar by 20.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,741,026 shares of the solar cell manufacturer's stock valued at $220,118,000 after acquiring an additional 290,112 shares in the last quarter. Institutional investors own 92.08% of the company's stock.

First Solar Stock Down 0.9%

First Solar stock opened at $230.13 on Friday. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $240.60. The firm has a market capitalization of $24.68 billion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 0.46 and a beta of 1.38. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. The firm has a 50 day simple moving average of $201.18 and a 200 day simple moving average of $167.89.

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 for the quarter, beating analysts' consensus estimates of $2.68 by $0.50. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business earned $3.25 EPS. First Solar's revenue was up 8.6% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, analysts predict 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 firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total value of $124,872.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 23,912 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the completion of the transaction, the chief executive officer directly owned 87,978 shares of the company's stock, valued at approximately $16,317,279.66. The trade was a 21.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,715 shares of company stock valued at $5,733,305. Insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FSLR shares. Susquehanna raised their price target on shares of First Solar from $203.00 to $222.00 and gave the company a "positive" rating in a research report on Friday, August 1st. Royal Bank Of Canada lifted their target price on shares of First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Bank of America lifted their target price on shares of First Solar from $185.00 to $201.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Guggenheim lifted their target price on shares of First Solar from $202.00 to $287.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Finally, Mizuho raised their price target on shares of First Solar from $275.00 to $278.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, First Solar has an average rating of "Moderate Buy" and a consensus price target of $231.04.

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.

Want to see what other hedge funds are holding FSLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Solar, Inc. (NASDAQ:FSLR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.