First Solar, Inc. $FSLR Shares Sold by Royal Bank of Canada

Royal Bank of Canada lessened its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 60.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 178,232 shares of the solar cell manufacturer's stock after selling 268,567 shares during the period. Royal Bank of Canada owned approximately 0.17% of First Solar worth $22,534,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of FSLR. Harvest Portfolios Group Inc. boosted its stake in shares of First Solar by 3.9% in the 1st quarter. Harvest Portfolios Group Inc. now owns 1,658 shares of the solar cell manufacturer's stock valued at $210,000 after purchasing an additional 63 shares in the last quarter. Legend Financial Advisors Inc. increased its stake in shares of First Solar by 1.4% in the 1st quarter. Legend Financial Advisors Inc. now owns 4,726 shares of the solar cell manufacturer's stock worth $598,000 after acquiring an additional 64 shares in the last quarter. Energy Income Partners LLC grew its position in First Solar by 0.8% during the 1st quarter. Energy Income Partners LLC now owns 9,257 shares of the solar cell manufacturer's stock valued at $1,170,000 after purchasing an additional 72 shares during the last quarter. Horizon Investments LLC grew its position in First Solar by 5.1% during the 1st quarter. Horizon Investments LLC now owns 1,537 shares of the solar cell manufacturer's stock valued at $194,000 after purchasing an additional 74 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in First Solar by 0.7% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,348 shares of the solar cell manufacturer's stock valued at $1,435,000 after purchasing an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

Insider Activity at First Solar

In related news, CAO Nathan B. Theurer sold 686 shares of the firm's 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 owned 87,978 shares of the company's stock, valued at $16,317,279.66. The trade was a 21.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,315 shares of company stock worth $6,021,305 in the last three months. 0.48% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FSLR shares. Guggenheim raised their price objective on shares of First Solar from $202.00 to $287.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Hsbc Global Res upgraded shares of First Solar to a "strong-buy" rating in a research report on Friday, August 1st. Bank of America raised their target price on shares of First Solar from $185.00 to $201.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Royal Bank Of Canada boosted their target price on shares of First Solar from $188.00 to $200.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Finally, BMO Capital Markets lifted their price objective on First Solar from $194.00 to $203.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $225.84.

First Solar Price Performance

Shares of FSLR stock traded down $1.61 during trading hours on Friday, hitting $201.70. 1,238,781 shares of the company's stock were exchanged, compared to its average volume of 3,216,098. The firm has a 50 day moving average of $187.50 and a two-hundred day moving average of $159.31. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $262.72. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. The firm has a market cap of $21.63 billion, a P/E ratio of 17.25, a P/E/G ratio of 0.40 and a beta of 1.41.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.50. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The company's revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the company earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Sell-side analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

First Solar Company 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.