Union Bancaire Privee UBP SA Purchases 8,270 Shares of First Solar, Inc. $FSLR

Key Points

• Union Bancaire Privee UBP SA increased its First Solar stake by 21.5% in the first quarter, buying 8,270 additional shares and bringing its total holdings to 46,802 shares valued at about $9.23 million.
• First Solar reported strong quarterly results, with earnings of $3.22 per share topping estimates and revenue of $1.04 billion slightly above forecasts. Revenue rose 23.6% year over year, and analysts currently expect full-year EPS of 17.61.
• The stock faces mixed signals: several analysts still rate it positively with an average Moderate Buy target of $249.78, but the company is also dealing with multiple class-action and securities-fraud investigations that add legal overhang.

Union Bancaire Privee UBP SA boosted its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 21.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,802 shares of the solar cell manufacturer's stock after purchasing an additional 8,270 shares during the quarter. Union Bancaire Privee UBP SA's holdings in First Solar were worth $9,232,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of First Solar during the 4th quarter worth $392,040,000. Viking Global Investors LP lifted its stake in First Solar by 60.6% in the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer's stock worth $375,122,000 after acquiring an additional 854,919 shares during the period. Polar Capital Holdings Plc bought a new position in First Solar during the 4th quarter worth about $200,109,000. Lightrock Netherlands B.V. grew its holdings in First Solar by 2,663.8% during the 4th quarter. Lightrock Netherlands B.V. now owns 666,307 shares of the solar cell manufacturer's stock worth $174,059,000 after acquiring an additional 642,199 shares in the last quarter. Finally, Amundi increased its position in First Solar by 38.6% during 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. 92.08% of the stock is owned by institutional investors.

First Solar Stock Down 3.8%

First Solar stock opened at $239.07 on Friday. First Solar, Inc. has a 1-year low of $149.54 and a 1-year high of $320.95. The business has a fifty day moving average price of $243.56 and a 200-day moving average price of $233.11. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15. The stock has a market capitalization of $25.69 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 0.55 and a beta of 1.71.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, beating analysts' consensus estimates of $2.87 by $0.35. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The firm's revenue was up 23.6% compared to the same quarter last year. During the same period last year, the business posted $1.95 earnings per share. Equities research analysts forecast that First Solar, Inc. will post 17.61 EPS for the current fiscal year.

Key Headlines Impacting First Solar

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

• Negative Sentiment: Several firms, including Howard G. Smith, Bronstein Gewirtz & Grossman, Rosen Law, Pomerantz, Portnoy, and the Schall Law Firm, announced or promoted class-action cases tied to First Solar, increasing legal overhang and headline risk. Article Title
• Negative Sentiment: Multiple securities-fraud investigations were also launched or reiterated by plaintiff firms, suggesting investors are actively probing whether earlier company disclosures may have been misleading. Article Title
• Neutral Sentiment: One Zacks item called First Solar a strong growth stock, which is supportive on fundamentals, but it appears to be a generic rating piece rather than a new company-specific catalyst. Article Title

Analysts Set New Price Targets

FSLR has been the subject of several research reports. Argus upped their price target on shares of First Solar from $250.00 to $275.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Susquehanna reduced their price objective on shares of First Solar from $280.00 to $250.00 and set a "positive" rating for the company in a research note on Thursday, April 9th. BMO Capital Markets dropped their target price on First Solar from $252.00 to $237.00 and set a "market perform" rating on the stock in a research report on Monday, April 20th. Morgan Stanley cut their price target on First Solar from $275.00 to $230.00 and set an "overweight" rating on the stock in a report on Tuesday, April 28th. Finally, Zacks Research upgraded First Solar from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $249.78.

Insider Activity at First Solar

In other news, insider Caroline Stockdale sold 10,628 shares of First Solar stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $275.60, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Markus Gloeckler sold 420 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $90,564.60. Following the sale, the chief technology officer directly owned 10,896 shares in the company, valued at $2,349,504.48. This trade represents a 3.71% decrease in their ownership of the stock. 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 32,466 shares of company stock worth $8,014,105 in the last 90 days. 0.39% of the stock is owned by insiders.

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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