S Bank Fund Management Ltd Trims Stake in First Solar, Inc. $FSLR

Key Points

• S Bank Fund Management Ltd has reduced its stake in First Solar, Inc. by 63.6% in the second quarter, owning just 17,798 shares after selling 31,112 shares during that period, valued at approximately $2.95 million.
• Wall Street analysts have mixed opinions on First Solar, with two analysts rating it a Strong Buy, while others have provided various ratings including Hold and Buy, with a consensus price target of $238.72.
• CEO Mark R. Widmar sold 23,912 shares of First Solar stock for over $4.43 million, indicating a 21.37% decrease in his ownership following the transaction.

S Bank Fund Management Ltd lessened its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 63.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 17,798 shares of the solar cell manufacturer's stock after selling 31,112 shares during the period. S Bank Fund Management Ltd's holdings in First Solar were worth $2,946,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Cetera Investment Advisers boosted its holdings in shares of First Solar by 10.9% during the 1st quarter. Cetera Investment Advisers now owns 25,437 shares of the solar cell manufacturer's stock valued at $3,216,000 after purchasing an additional 2,510 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of First Solar by 396.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 11,777 shares of the solar cell manufacturer's stock valued at $1,489,000 after acquiring an additional 9,405 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of First Solar by 7.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 48,722 shares of the solar cell manufacturer's stock valued at $6,160,000 after acquiring an additional 3,226 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of First Solar by 14.2% in the 1st quarter. Vontobel Holding Ltd. now owns 189,320 shares of the solar cell manufacturer's stock valued at $23,936,000 after acquiring an additional 23,528 shares during the last quarter. Finally, Oakworth Capital Inc. lifted its holdings in shares of First Solar by 24.7% in the 1st quarter. Oakworth Capital Inc. now owns 9,682 shares of the solar cell manufacturer's stock valued at $1,224,000 after acquiring an additional 1,916 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FSLR. Royal Bank Of Canada increased their price target on shares of First Solar from $188.00 to $200.00 and gave the company an "outperform" rating in a report on Tuesday, July 1st. Wall Street Zen raised shares of First Solar from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of First Solar in a report on Wednesday, October 8th. 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 research note on Friday, August 22nd. Finally, Susquehanna raised their price objective on shares of First Solar from $222.00 to $273.00 and gave the stock a "positive" rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $238.72.

Insider Activity at First Solar

In related news, CEO Mark R. Widmar sold 23,912 shares of First Solar stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the transaction, the chief executive officer directly owned 87,978 shares of the company's stock, valued at $16,317,279.66. This trade represents a 21.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Nathan B. Theurer sold 686 shares of First Solar stock in a transaction that occurred on Thursday, August 14th. The shares were 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. Over the last three months, insiders have sold 30,715 shares of company stock worth $5,733,305. 0.48% of the stock is currently owned by corporate insiders.

First Solar Stock Performance

Shares of NASDAQ:FSLR opened at $244.40 on Thursday. The firm has a market cap of $26.21 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 0.45 and a beta of 1.38. The firm's 50 day simple moving average is $208.89 and its 200-day simple moving average is $173.50. First Solar, Inc. has a one year low of $116.56 and a one year high of $248.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.50. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The company's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, equities analysts predict 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.

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