Mirova US LLC Purchases 50,315 Shares of First Solar, Inc. $FSLR

Key Points

• Mirova US LLC increased its stake in First Solar, Inc. by 5.6% in Q2, acquiring an additional 50,315 shares, which brought its total holdings to 944,931 shares.
• Multiple institutional investors, including Vanguard Group and Wellington Management, also reported significant increases in their investments in First Solar over recent quarters.
• First Solar's latest earnings report showed an EPS of $3.18, exceeding expectations of $2.68, with revenue up 8.6% year-over-year at $1.10 billion.

Mirova US LLC boosted its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 5.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 944,931 shares of the solar cell manufacturer's stock after acquiring an additional 50,315 shares during the period. First Solar accounts for 1.6% of Mirova US LLC's investment portfolio, making the stock its 25th biggest position. Mirova US LLC owned approximately 0.88% of First Solar worth $156,424,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings 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 worth $1,668,919,000 after acquiring an additional 378,641 shares during the last quarter. Wellington Management Group LLP grew its holdings 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 worth $349,617,000 after acquiring an additional 405,457 shares during the last quarter. Invesco Ltd. grew its holdings 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 worth $306,909,000 after acquiring an additional 592,444 shares during the last quarter. Samlyn Capital LLC boosted its stake in shares of First Solar by 6.3% during 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 purchasing an additional 103,403 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of First Solar by 20.0% during 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 purchasing an additional 290,112 shares in the last quarter. Institutional investors own 92.08% of the company's stock.

First Solar Trading Down 0.7%

Shares of NASDAQ FSLR opened at $227.89 on Wednesday. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $235.87. The stock has a market cap of $24.44 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 0.46 and a beta of 1.38. The firm has a 50-day moving average of $203.02 and a 200 day moving average of $169.53. 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 (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, 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 company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the company posted $3.25 EPS. First Solar's revenue was up 8.6% on a year-over-year basis. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, sell-side analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of First Solar from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. UBS Group reaffirmed a "buy" rating and set a $275.00 target price (up previously from $255.00) on shares of First Solar in a research note on Tuesday, August 5th. Glj Research reaffirmed a "buy" rating and set a $214.06 target price (up previously from $172.53) on shares of First Solar in a research note on Tuesday, August 12th. Evercore ISI assumed coverage on shares of First Solar in a research note on Monday. They set an "in-line" rating and a $240.00 target price on the stock. Finally, Mizuho lifted their target price on shares of First Solar from $275.00 to $278.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $229.52.

Insider Activity

In other First Solar news, CEO Mark R. Widmar sold 23,912 shares of First Solar stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Nathan B. Theurer sold 686 shares of First Solar stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $182.03, for a total transaction of $124,872.58. The disclosure for this sale can be found here. Insiders sold 30,715 shares of company stock valued at $5,733,305 over the last ninety days. Corporate 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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