Riggs Asset Managment Co. Inc. Has $1.65 Million Stock Holdings in First Solar, Inc. $FSLR

Key Points

• Riggs Asset Management dramatically increased its stake in First Solar by 124,283.3% in Q3 and now holds 7,463 shares worth about $1.65 million.
• First Solar is expanding U.S. manufacturing — commissioning a new Louisiana factory and adding capacity in South Carolina — but its most recent quarter missed EPS estimates ($4.84 vs. $5.22) despite revenue rising to $1.68 billion.
• Near-term risks include disappointing 2026 guidance that prompted analyst downgrades and price‑target cuts, sizeable insider selling (including the CEO) and a Pomerantz investor investigation, all of which have amplified short‑term selling pressure.

Riggs Asset Managment Co. Inc. lifted its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 124,283.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,463 shares of the solar cell manufacturer's stock after purchasing an additional 7,457 shares during the quarter. Riggs Asset Managment Co. Inc.'s holdings in First Solar were worth $1,646,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SFE Investment Counsel grew its stake in First Solar by 9.1% in the second quarter. SFE Investment Counsel now owns 69,810 shares of the solar cell manufacturer's stock valued at $11,556,000 after acquiring an additional 5,852 shares during the period. Joule Financial LLC acquired a new stake in shares of First Solar during the third quarter worth about $950,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of First Solar by 22.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,155 shares of the solar cell manufacturer's stock valued at $17,015,000 after purchasing an additional 13,904 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of First Solar during the 2nd quarter valued at about $1,323,000. Finally, Belpointe Asset Management LLC acquired a new position in shares of First Solar in the 3rd quarter valued at approximately $1,193,000. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar News Roundup

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

• Positive Sentiment: U.S. manufacturing expansion: First Solar commissioned a new factory in Louisiana and plans additional capacity in South Carolina, improving domestic supply‑chain positioning and medium/long‑term revenue visibility. First Solar Expands US Manufacturing Footprint
• Neutral Sentiment: Options and retail/trending activity are elevated, which can amplify intraday swings but do not change the company’s fundamentals. Behind the Scenes of First Solar's Latest Options Trends
• Negative Sentiment: 2026 guidance disappointed analysts, triggering multiple downgrades and the primary near‑term selling pressure as investors reprice earnings/margins. 2026 Guidance Disappoints, Triggers Downgrades
• Negative Sentiment: Analyst price‑target cuts (examples: Evercore to $212, Morgan Stanley to $230, Barclays to $228, Argus to $250) reduce headline upside and analyst support. Analyst Price Target Moves
• Negative Sentiment: Insider selling disclosed on March 4 — CTO Markus Gloeckler sold ~3,640 shares (~$717k) and CAO Nathan Theurer sold 92 shares — which some investors view as a negative signal even if routine. CTO Insider Sale SEC Filing
• Negative Sentiment: Pomerantz LLP announced an investor investigation into First Solar, introducing legal/financial risk that could increase near‑term cautiousness. Pomerantz Investigates First Solar
• Negative Sentiment: High‑profile negative commentary (e.g., Jim Cramer calling the recent quarter “one awful quarter”) can amplify short‑term selling momentum among retail traders. Jim Cramer on First Solar

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $189.21 on Friday. The company has a current ratio of 2.67, a quick ratio of 2.35 and a debt-to-equity ratio of 0.03. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $285.99. The stock has a 50 day moving average of $234.09 and a 200-day moving average of $236.21. The company has a market capitalization of $20.30 billion, a P/E ratio of 13.32, a P/E/G ratio of 0.30 and a beta of 1.65.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share for the quarter, missing analysts' consensus estimates of $5.22 by ($0.38). First Solar had a net margin of 29.28% and a return on equity of 17.32%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the company posted $3.65 EPS. The firm's revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FSLR. Wall Street Zen cut First Solar from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. BMO Capital Markets set a $263.00 price target on shares of First Solar in a research note on Thursday, January 29th. Daiwa Securities Group increased their price objective on shares of First Solar from $215.00 to $284.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 9th. Morgan Stanley dropped their price objective on shares of First Solar from $275.00 to $230.00 and set an "overweight" rating on the stock in a report on Monday, March 2nd. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $205.00 price objective on shares of First Solar in a research report on Thursday, February 26th. Twenty investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, First Solar has a consensus rating of "Moderate Buy" and a consensus target price of $249.65.

Insider Transactions at First Solar

In other news, CEO Mark R. Widmar sold 7,738 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $195.93, for a total value of $1,516,106.34. Following the transaction, the chief executive officer directly owned 91,787 shares of the company's stock, valued at $17,983,826.91. This represents a 7.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kuntal Kumar Verma sold 3,426 shares of the firm's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $195.93, for a total transaction of $671,256.18. Following the sale, the insider owned 8,334 shares of the company's stock, valued at approximately $1,632,880.62. This represents a 29.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 31,975 shares of company stock valued at $6,267,492. Corporate insiders own 0.48% of the company's stock.

First Solar Company Profile

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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