Royal Bank of Canada Lowers Position in First Solar, Inc. $FSLR

Key Points

• Royal Bank of Canada cut its First Solar position by 52.8% in the first quarter, selling 237,768 shares and retaining 212,567 shares worth approximately $41.9 million.
• Institutional investors hold 92.08% of First Solar, with Pictet Asset Management increasing its stake by 29.3% and several other funds establishing new positions.
• First Solar reported stronger-than-expected quarterly earnings of $3.92 per share, although revenue fell 3.4% year over year to $1.06 billion. Analysts maintain a generally bullish view, with a consensus “Moderate Buy” rating and a $252.86 price target.

Royal Bank of Canada trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 52.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 212,567 shares of the solar cell manufacturer's stock after selling 237,768 shares during the quarter. Royal Bank of Canada owned about 0.20% of First Solar worth $41,930,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pictet Asset Management Holding SA raised its position in First Solar by 29.3% during the first quarter. Pictet Asset Management Holding SA now owns 1,138,473 shares of the solar cell manufacturer's stock valued at $224,540,000 after purchasing an additional 258,204 shares in the last quarter. Atlatl Advisers LLC bought a new position in shares of First Solar during the 4th quarter valued at about $1,697,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of First Solar by 1,054.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 52,219 shares of the solar cell manufacturer's stock valued at $13,641,000 after buying an additional 47,695 shares in the last quarter. Genus Capital Management Inc. purchased a new position in shares of First Solar during the fourth quarter worth approximately $4,525,000. Finally, TABR Capital Management LLC purchased a new position in shares of First Solar during the fourth quarter worth approximately $5,626,000. Hedge funds and other institutional investors own 92.08% of the company's stock.

Insider Transactions at First Solar

In other news, insider Georges Antoun sold 566 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total value of $122,046.58. Following the completion of the transaction, the insider owned 19,918 shares in the company, valued at $4,294,918.34. This trade represents a 2.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Caroline Stockdale sold 10,628 shares of the company's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $275.60, for a total value of $2,929,076.80. Following the completion of the sale, the insider directly owned 23,792 shares in the company, valued at approximately $6,557,075.20. The trade was a 30.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 31,893 shares of company stock worth $7,893,775. 0.39% of the stock is owned by insiders.

Key Stories Impacting First Solar

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

• Positive Sentiment: Profit and margins exceeded expectations. First Solar reported second-quarter EPS of $3.92, well above the $2.99 analyst consensus and up from $3.18 a year earlier. Gross margin expanded to approximately 57%, while adjusted EBITDA rose to $644 million from $560 million. First Solar's Q2 Earnings Beat Estimates, Revenues Decrease Y/Y
• Positive Sentiment: Strong long-term demand visibility supported the bullish reaction. Management highlighted a record backlog, 45.1 gigawatts of contracted sales at quarter-end, domestic manufacturing expansion, technology investments and policy-driven opportunities extending through 2030. The company also cited a cumulative production milestone above 100 GW. FSLR Q2 Earnings Call Highlights Domestic Solar Push
• Positive Sentiment: Analysts maintained bullish ratings. Goldman Sachs reiterated a Buy rating with a $310 price target, while Needham maintained Buy with a $303 target, citing attractive valuation, demand momentum and potential support from Section 232 tariffs. First Solar: Strong Q2 Beat and Solid Demand Momentum
• Neutral Sentiment: Full-year guidance was reaffirmed. First Solar maintained 2026 net sales guidance of $4.9 billion to $5.2 billion, broadly in line with expectations. However, the midpoint is slightly below consensus, limiting the upside from the earnings beat. First Solar Announces Second Quarter 2026 Results
• Negative Sentiment: Revenue declined year over year. Sales fell about 4% to $1.06 billion, primarily because customer contract cancellations offset higher third-party module sales. The company is also navigating Section 232 tariff uncertainty and rising input costs. First Solar Sales Fall on Contract Cancellations
• Negative Sentiment: Securities litigation remains an overhang. Multiple law firms publicized a shareholder class action concerning alleged misrepresentations about tariffs and production challenges, with an August 24, 2026 lead-plaintiff deadline. These notices may pressure sentiment, although they do not represent a court finding of wrongdoing. Kaplan Fox First Solar Shareholder Notice

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FSLR. Evercore lifted their target price on shares of First Solar from $212.00 to $219.00 in a research report on Monday, May 4th. UBS Group boosted their target price on First Solar from $290.00 to $330.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. Sanford C. Bernstein dropped their target price on First Solar from $217.00 to $197.00 and set an "underperform" rating for the company in a report on Friday. Morgan Stanley lifted their price target on First Solar from $230.00 to $245.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Finally, Roth Capital reiterated a "buy" rating and issued a $300.00 price objective on shares of First Solar in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $252.86.

First Solar Stock Performance

NASDAQ:FSLR opened at $211.03 on Monday. The company has a 50-day moving average price of $245.08 and a 200-day moving average price of $225.14. First Solar, Inc. has a 12 month low of $171.99 and a 12 month high of $320.95. The stock has a market cap of $22.68 billion, a price-to-earnings ratio of 13.01, a P/E/G ratio of 0.47 and a beta of 1.76.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $1.02. First Solar had a net margin of 32.47% and a return on equity of 18.02%. The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the previous year, the company earned $3.18 earnings per share. First Solar's quarterly revenue was down 3.4% on a year-over-year basis. Equities analysts forecast that First Solar, Inc. will post 17.53 EPS for the current fiscal year.

About First Solar

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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