Van Lanschot Kempen Investment Management N.V. Cuts Stake in First Solar, Inc. $FSLR

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Van Lanschot Kempen Investment Management N.V. decreased its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 27.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 161,247 shares of the solar cell manufacturer's stock after selling 60,728 shares during the period. Van Lanschot Kempen Investment Management N.V. owned about 0.15% of First Solar worth $20,386,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of FSLR. Vanguard Group Inc. raised its position in shares of First Solar by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer's stock worth $1,668,919,000 after acquiring an additional 378,641 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of First Solar by 17.2% during the first quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer's stock valued at $349,617,000 after buying an additional 405,457 shares during the last quarter. Invesco Ltd. increased its holdings in shares of First Solar by 32.3% in the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer's stock valued at $306,909,000 after purchasing an additional 592,444 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in First Solar by 8.6% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,748,603 shares of the solar cell manufacturer's stock worth $308,174,000 after buying an additional 137,901 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in First Solar by 9.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,450,914 shares of the solar cell manufacturer's stock valued at $255,709,000 after purchasing an additional 120,239 shares during the period. Hedge funds and other institutional investors own 92.08% of the company's stock.

Insiders Place Their Bets

In other news, CTO Markus Gloeckler sold 9,557 shares of First Solar stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the completion of the sale, the chief technology officer directly owned 8,037 shares in the company, valued at $1,246,136.85. The trade was a 54.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Nathan B. Theurer sold 686 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total value of $124,872.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,691 shares of company stock valued at $8,248,477. Insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FSLR. Mizuho increased their price target on shares of First Solar from $275.00 to $278.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Truist Financial reissued a "buy" rating and issued a $200.00 price objective (down from $245.00) on shares of First Solar in a research note on Thursday, May 1st. BMO Capital Markets boosted their target price on First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. KeyCorp cut shares of First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price target on the stock. in a research report on Wednesday, April 30th. Finally, Susquehanna raised their target price on First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, First Solar has an average rating of "Moderate Buy" and a consensus target price of $222.44.

First Solar Stock Performance

FSLR traded down $14.44 during trading on Thursday, hitting $192.00. 5,216,675 shares of the stock were exchanged, compared to its average volume of 3,359,016. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $262.72. The stock has a fifty day moving average price of $174.62 and a two-hundred day moving average price of $155.00. The firm has a market capitalization of $20.59 billion, a P/E ratio of 16.42, a PEG ratio of 0.41 and a beta of 1.48.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.50. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior 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, sell-side analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

First Solar 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.