SFE Investment Counsel Has $16.73 Million Stake in First Solar, Inc. $FSLR

Key Points

• SFE Investment Counsel trimmed its First Solar stake by 8.2% in the fourth quarter, leaving it with 64,059 shares worth about $16.73 million. First Solar still ranks as the firm’s 7th-largest holding.
• First Solar reported a strong quarterly update, with EPS of $3.22 beating estimates and revenue of $1.04 billion topping forecasts slightly. Revenue rose 23.6% year over year, and analysts expect full-year EPS of 17.63.
• Sentiment around the stock remains constructive: several analysts have raised targets or reiterated bullish ratings, and MarketBeat reports an average rating of Moderate Buy with a target price of $247.03. The shares also rose 2.9% to $234.60 in Thursday trading.

SFE Investment Counsel cut its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 8.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,059 shares of the solar cell manufacturer's stock after selling 5,754 shares during the period. First Solar makes up approximately 2.6% of SFE Investment Counsel's investment portfolio, making the stock its 7th biggest position. SFE Investment Counsel owned approximately 0.06% of First Solar worth $16,734,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Joule Financial LLC bought a new position in shares of First Solar in the third quarter valued at approximately $950,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in First Solar by 22.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,155 shares of the solar cell manufacturer's stock worth $17,015,000 after buying an additional 13,904 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in First Solar during the third quarter worth approximately $1,193,000. National Pension Service boosted its holdings in First Solar by 24.1% during the third quarter. National Pension Service now owns 41,419 shares of the solar cell manufacturer's stock worth $9,134,000 after buying an additional 8,036 shares in the last quarter. Finally, Candriam S.C.A. boosted its holdings in First Solar by 70.2% during the third quarter. Candriam S.C.A. now owns 150,379 shares of the solar cell manufacturer's stock worth $33,163,000 after buying an additional 62,048 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Georges Antoun sold 566 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $122,046.58. Following the completion of the sale, the insider owned 19,918 shares in the company, valued at approximately $4,294,918.34. This represents a 2.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Koralewski sold 215 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $46,360.45. Following the completion of the sale, the insider owned 14,642 shares of the company's stock, valued at approximately $3,157,254.46. This trade represents a 1.45% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 92,430 shares of company stock worth $18,670,055 in the last quarter. Corporate insiders own 0.39% of the company's stock.

First Solar Stock Up 2.9%

Shares of NASDAQ:FSLR opened at $234.60 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. The company has a market cap of $25.21 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 0.50 and a beta of 1.57. First Solar, Inc. has a 52 week low of $135.50 and a 52 week high of $285.99. The firm has a 50 day simple moving average of $199.13 and a 200 day simple moving average of $231.46.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, beating the consensus estimate of $2.87 by $0.35. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The firm's quarterly revenue was up 23.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.95 EPS. As a group, research analysts expect that First Solar, Inc. will post 17.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FSLR shares. DZ Bank upgraded shares of First Solar to a "strong sell" rating in a report on Thursday, February 26th. Freedom Capital upgraded shares of First Solar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 5th. HSBC raised their target price on shares of First Solar from $211.00 to $231.00 and gave the stock a "hold" rating in a report on Tuesday, May 5th. Wells Fargo & Company reduced their target price on shares of First Solar from $285.00 to $255.00 and set an "overweight" rating for the company in a report on Thursday, February 26th. Finally, Needham & Company LLC raised their target price on shares of First Solar from $286.00 to $303.00 and gave the stock a "buy" rating in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $247.03.

First Solar News Roundup

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

• Positive Sentiment: Argus raised its price target on First Solar to $275 from $250 and reiterated a buy rating, signaling confidence in further upside after recent strength. Argus Adjusts Price Target on First Solar
• Positive Sentiment: Broader solar stocks are showing improved momentum, with reports that First Solar and other clean-energy names are attempting breakouts as investors rotate back into the sector. Solar Stocks Could Have More Room to Run
• Positive Sentiment: Bloomberg reported that Chinese clean-tech firms are pulling back from the U.S. because of a tougher policy environment and possible loss of incentives, which could improve the competitive position of U.S.-based solar manufacturers such as First Solar. China’s $3 Billion US Clean Tech Exit Is an Investment Warning
• Neutral Sentiment: First Solar CEO Mark Widmar disclosed two recent stock sales under a pre-arranged 10b5-1 plan. Insider selling can draw attention, but the transactions appear routine rather than a negative business signal.
• Neutral Sentiment: The company’s shareholder/analyst call transcript was published, but no new material catalyst was highlighted in the provided headline.

First Solar 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.