First Solar, Inc. $FSLR Holdings Cut by National Pension Service

Key Points

• The National Pension Service reduced its holdings in First Solar, Inc. by 82.9% in the first quarter, leaving it with just 33,383 shares valued at approximately $4.22 million.
• Several hedge funds, including Sumitomo Mitsui DS Asset Management, increased their stakes in First Solar during the same period, indicating ongoing interest from institutional investors.
• First Solar reported $3.18 EPS for the last quarter, surpassing estimates, and analysts expect the company will post an average of 13.05 EPS for the current fiscal year.

National Pension Service cut its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 82.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,383 shares of the solar cell manufacturer's stock after selling 162,000 shares during the period. National Pension Service's holdings in First Solar were worth $4,221,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Garde Capital Inc. purchased a new position in First Solar in the 1st quarter valued at approximately $25,000. Larson Financial Group LLC increased its holdings in First Solar by 591.9% during the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock valued at $32,000 after acquiring an additional 219 shares in the last quarter. Abound Financial LLC purchased a new position in First Solar during the 1st quarter valued at about $45,000. Princeton Global Asset Management LLC purchased a new position in First Solar during the 1st quarter valued at about $51,000. Finally, Banque Transatlantique SA purchased a new position in shares of First Solar during the 4th quarter worth approximately $53,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at First Solar

In other news, insider Patrick James Buehler sold 1,868 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $149.08, for a total transaction of $278,481.44. Following the transaction, the insider owned 5,998 shares of the company's stock, valued at approximately $894,181.84. This trade represents a 23.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Nathan B. Theurer sold 686 shares of the 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. In the last 90 days, insiders sold 46,691 shares of company stock worth $8,248,477. 0.48% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on FSLR shares. Guggenheim dropped their price target on First Solar from $253.00 to $202.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Hsbc Global Res upgraded First Solar to a "strong-buy" rating in a research report on Friday, August 1st. Oppenheimer cut First Solar from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 30th. UBS Group reaffirmed a "buy" rating and issued a $275.00 target price (up from $255.00) on shares of First Solar in a research note on Tuesday, August 5th. Finally, Morgan Stanley set a $223.00 price target on First Solar and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, First Solar currently has an average rating of "Moderate Buy" and an average target price of $222.44.

First Solar Stock Down 6.2%

First Solar stock traded down $12.74 during trading on Thursday, reaching $193.70. 3,637,820 shares of the company's stock were exchanged, compared to its average volume of 3,860,301. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $262.72. The company's 50-day moving average is $174.14 and its two-hundred day moving average is $154.83. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The firm has a market cap of $20.77 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 0.41 and a beta of 1.48.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.50. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.First Solar's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.25 EPS. 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.

About First Solar

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.