South Dakota Investment Council Sells 36,160 Shares of First Solar, Inc. $FSLR

Key Points

• South Dakota Investment Council cut its First Solar position by 60.7%, selling 36,160 shares in the first quarter and retaining 23,396 shares valued at approximately $4.6 million. Institutional investors collectively own 92.08% of the company.
• First Solar reported strong second-quarter results, with EPS of $3.92 beating estimates and adjusted EBITDA rising to $644 million. The company reaffirmed its 2026 sales guidance and cited a 45.1 GW contracted backlog, though revenue declined year over year and customer contract terminations remain a risk.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $257.10. However, the company faces potential litigation related to alleged disclosures about tariff impacts and international production challenges.

South Dakota Investment Council lowered its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 60.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,396 shares of the solar cell manufacturer's stock after selling 36,160 shares during the quarter. South Dakota Investment Council's holdings in First Solar were worth $4,615,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Norges Bank bought a new position in First Solar during the fourth quarter worth about $392,040,000. Viking Global Investors LP raised its stake in First Solar by 60.6% in the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer's stock worth $375,122,000 after purchasing an additional 854,919 shares in the last quarter. Polar Capital Holdings Plc bought a new stake in First Solar in the 4th quarter valued at about $200,109,000. Lightrock Netherlands B.V. boosted its holdings in First Solar by 2,663.8% in the 4th quarter. Lightrock Netherlands B.V. now owns 666,307 shares of the solar cell manufacturer's stock valued at $174,059,000 after purchasing an additional 642,199 shares during the period. Finally, Amundi boosted its holdings in First Solar by 38.6% in the 3rd quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer's stock valued at $459,917,000 after purchasing an additional 564,032 shares during the period. Institutional investors own 92.08% of the company's stock.

Key Headlines Impacting First Solar

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

• Positive Sentiment: First Solar reported second-quarter diluted EPS of $3.92, well above analyst estimates of roughly $2.74–$2.90 and up from $3.18 a year earlier. Adjusted EBITDA also increased to $644 million from $560 million. First Solar Beats Q2 Earnings Estimates
• Positive Sentiment: The company reaffirmed its 2026 net sales guidance of $4.9 billion to $5.2 billion and maintained expectations for third-quarter module sales of 3.9 GW to 4.5 GW and adjusted EBITDA of $625 million to $775 million. First Solar Second Quarter Results
• Positive Sentiment: First Solar ended the quarter with approximately $1.7 billion in gross and net cash and a contracted sales backlog of 45.1 GW, supporting long-term revenue visibility. First Solar Q2 Revenue and Profit
• Neutral Sentiment: Quarterly revenue totaled $1.06 billion, essentially matching estimates but declining about 4% year over year. Full-year guidance has a midpoint of $5.05 billion, slightly below the approximately $5.1 billion analyst consensus. First Solar Misses Q2 Revenue Estimates
• Negative Sentiment: Customer contract terminations reduced revenue and offset higher third-party module sales, highlighting continued execution and demand risks despite the sizable backlog. First Solar Sales Fall on Contract Cancellations
• Negative Sentiment: Several law firms publicized a pending securities class action alleging misleading statements about tariff impacts and international production challenges. The allegations remain unresolved, but the litigation adds headline and potential financial risk. First Solar Shareholder Action Reminder

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FSLR. Mizuho raised their target price on shares of First Solar from $243.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, June 12th. Citigroup reiterated a "buy" rating on shares of First Solar in a research note on Wednesday, July 22nd. HSBC increased their price target on First Solar from $211.00 to $231.00 and gave the stock a "hold" rating in a research report on Tuesday, May 5th. Wells Fargo & Company raised their price objective on First Solar from $255.00 to $320.00 and gave the stock an "overweight" rating in a research note on Monday, July 6th. Finally, Truist Financial assumed coverage on First Solar in a report on Monday, July 13th. They issued a "hold" rating and a $249.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, First Solar currently has an average rating of "Moderate Buy" and an average price target of $257.10.

First Solar Price Performance

FSLR stock opened at $206.01 on Friday. The company's 50-day moving average price is $246.02 and its two-hundred day moving average price is $225.33. The firm has a market cap of $22.14 billion, a P/E ratio of 13.31, a P/E/G ratio of 0.44 and a beta of 1.73. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. First Solar, Inc. has a 12 month low of $171.99 and a 12 month high of $320.95.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share for the quarter, topping analysts' consensus estimates of $2.99 by $0.93. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The firm's quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.18 EPS. On average, analysts anticipate that First Solar, Inc. will post 17.54 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other First Solar news, insider Georges Antoun sold 566 shares of the firm's stock in a transaction 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 sale, the insider owned 19,918 shares of the company's stock, valued at approximately $4,294,918.34. This trade represents a 2.76% decrease in their position. The sale was disclosed in a document filed with the SEC, 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, CFO Alexander R. Bradley sold 498 shares of First Solar stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $107,383.74. Following the completion of the transaction, the chief financial officer owned 30,712 shares in the company, valued at approximately $6,622,428.56. The trade was a 1.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 31,893 shares of company stock valued at $7,893,775. 0.39% of the stock is currently owned by insiders.

First Solar Company 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.

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