Robeco Institutional Asset Management B.V. Buys 20,420 Shares of First Solar, Inc. $FSLR

Key Points

• Robeco Institutional Asset Management increased its First Solar stake by 17.9%, purchasing 20,420 additional shares to own 134,487 shares valued at approximately $23.6 million. Institutional investors and hedge funds collectively own 92.08% of the company.
• Analyst sentiment remains generally positive, with First Solar receiving a “Moderate Buy” consensus rating and an average price target of $265.73, although some analysts recently reduced targets.
• First Solar’s shares opened at $171.99, near their 52-week low, after the stock declined from a high of $320.95. The company’s latest quarterly results exceeded earnings expectations, but revenue fell 3.4% year over year and upcoming earnings and guidance remain key catalysts.

Robeco Institutional Asset Management B.V. increased its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 17.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,487 shares of the solar cell manufacturer's stock after buying an additional 20,420 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.13% of First Solar worth $23,557,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in First Solar in the second quarter valued at $3,310,298,000. ABS Investment Management LLC bought a new position in shares of First Solar during the second quarter worth about $1,297,780,000. Hill City Capital LP bought a new position in shares of First Solar during the second quarter worth about $620,133,555. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of First Solar by 7.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,535,836 shares of the solar cell manufacturer's stock worth $362,396,000 after acquiring an additional 100,694 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of First Solar by 4.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,305,471 shares of the solar cell manufacturer's stock worth $257,441,000 after acquiring an additional 56,300 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity at First Solar

In other news, EVP Samantha L. Sloan sold 127 shares of the company's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $222.95, for a total value of $28,314.65. Following the completion of the sale, the executive vice president directly owned 2,018 shares of the company's stock, valued at approximately $449,913.10. This represents a 5.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Jason E. Dymbort sold 3,700 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $249.38, for a total transaction of $922,706.00. Following the completion of the transaction, the general counsel owned 5,624 shares of the company's stock, valued at $1,402,513.12. This trade represents a 39.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,681 shares of company stock worth $3,756,286 in the last 90 days. Corporate insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on FSLR shares. Glj Research cut their price objective on shares of First Solar from $315.00 to $250.00 and set a "buy" rating on the stock in a research report on Tuesday, September 22nd. Truist Financial set a $270.00 target price on shares of First Solar and gave the stock a "buy" rating in a research report on Monday, October 12th. Raymond James Financial began coverage on shares of First Solar in a research note on Thursday, August 27th. They issued a "market perform" rating on the stock. Evercore reaffirmed a "positive" rating and set a $218.00 price target on shares of First Solar in a report on Monday, August 17th. Finally, Weiss Ratings raised First Solar from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $265.73.

Trending Headlines about First Solar

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

• Positive Sentiment: BMO Capital issued a Buy rating on First Solar, providing a constructive analyst signal that may support investor confidence in the company’s long-term growth prospects. First Solar Gets a Buy from BMO Capital
• Positive Sentiment: Analysts and investors are focused on whether U.S. demand for domestically manufactured solar panels is strengthening. Firm domestic demand could benefit First Solar’s production utilization and revenue outlook. Is Domestic Panel Demand Firming for First Solar?
• Neutral Sentiment: First Solar is scheduled to report quarterly earnings, making the upcoming results, management guidance and commentary on demand key near-term catalysts. First Solar Projected to Announce Quarterly Earnings
• Neutral Sentiment: Investor attention has increased, with First Solar appearing among trending stocks. The heightened visibility could increase trading activity but does not itself change the company’s fundamentals. First Solar Is a Trending Stock
• Neutral Sentiment: Coverage is also highlighting First Solar’s substantial cash position, which may provide financial flexibility for expansion and help cushion periods of industry volatility. Should You Buy First Solar Stock For Its Cash?
• Negative Sentiment: Zacks reported that First Solar underperformed the broader market in the latest session, reflecting near-term selling pressure. First Solar Declines More Than the Market
• Negative Sentiment: Pre-earnings analysis says First Solar lacks the combination of earnings-estimate revisions and surprise indicators typically associated with a likely earnings beat. That raises the risk of a cautious reaction if results or guidance disappoint. First Solar Earnings Expected to Grow

First Solar Stock Performance

NASDAQ:FSLR opened at $171.99 on Friday. The stock has a market cap of $18.48 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 0.47 and a beta of 1.80. First Solar, Inc. has a 1 year low of $168.60 and a 1 year high of $320.95. The business has a fifty day moving average of $192.86 and a 200-day moving average of $218.21.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share for the quarter, beating analysts' consensus estimates of $2.90 by $1.02. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.06 billion. First Solar had a net margin of 32.47% and a return on equity of 18.02%. The company's revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.18 earnings per share. On average, equities research analysts predict that First Solar, Inc. will post 17.63 EPS for the current year.

First Solar Company Profile

First Solar, Inc is a vertically integrated solar technology and manufacturing company that designs, manufactures and sells photovoltaic (PV) solar modules. Its modules use advanced thin-film semiconductor technology based on cadmium telluride (CdTe), rather than the crystalline-silicon technology used by most solar manufacturers. The company serves utility-scale solar developers, commercial and industrial customers, and other large-scale energy users.

Founded in 1999 and headquartered in Tempe, Arizona, First Solar operates research and development, manufacturing and recycling facilities in the United States and internationally.

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