Sterling Capital Management LLC Has $675,000 Stake in First Solar, Inc. $FSLR

Sterling Capital Management LLC reduced its position in First Solar, Inc. (NASDAQ:FSLR) by 43.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,422 shares of the solar cell manufacturer’s stock after selling 2,596 shares during the quarter. Sterling Capital Management LLC’s holdings in First Solar were worth $675,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Woodline Partners LP lifted its holdings in First Solar by 40.7% in the first quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock valued at $1,143,000 after buying an additional 2,615 shares during the period. EverSource Wealth Advisors LLC grew its holdings in First Solar by 50.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 516 shares of the solar cell manufacturer’s stock worth $85,000 after acquiring an additional 174 shares during the period. Brown Advisory Inc. grew its holdings in First Solar by 84.3% during the 2nd quarter. Brown Advisory Inc. now owns 4,529 shares of the solar cell manufacturer’s stock worth $750,000 after acquiring an additional 2,072 shares during the period. Cerity Partners LLC bought a new position in shares of First Solar in the 2nd quarter worth about $494,000. Finally, AXA S.A. raised its position in shares of First Solar by 6.3% in the 2nd quarter. AXA S.A. now owns 18,862 shares of the solar cell manufacturer’s stock worth $3,122,000 after acquiring an additional 1,115 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at First Solar

In related news, insider Caroline Stockdale sold 10,628 shares of the business’s stock in a transaction dated 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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Markus Gloeckler sold 420 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $90,564.60. Following the completion of the sale, the chief technology officer directly owned 10,896 shares of the company’s stock, valued at $2,349,504.48. The trade was a 3.71% decrease in their ownership of the stock. 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 90 days, insiders have sold 32,466 shares of company stock worth $8,014,105. 0.39% of the stock is owned by insiders.

First Solar News Roundup

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

• Positive Sentiment: First Solar continues to be highlighted for its long-term growth potential, including U.S. manufacturing expansion, a strong backlog, and leadership in thin-film CdTe solar technology. Can First Solar’s Manufacturing Expansion Drive Long-Term Growth?
• Positive Sentiment: The company is also drawing attention for strengthening its module recycling efforts, reinforcing its sustainability strategy and lifecycle leadership in solar. How Is First Solar Strengthening Its Module Recycling Leadership?
• Neutral Sentiment: Several articles note that First Solar is a trending stock, reflecting elevated investor interest rather than a clear new fundamental catalyst. First Solar, Inc. (FSLR) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: The biggest drag on sentiment is a cluster of class-action lawsuit notices and lead-plaintiff deadline reminders from multiple law firms, which can raise concerns about alleged investor harm and legal overhang. Deadline Approaching: First Solar, Inc. (FSLR) Shareholders Who Lost Money Urged to Contact Law Offices of Howard G. Smith
• Negative Sentiment: Additional lawsuits and investor alerts from firms including Bronstein, Gewirtz & Grossman, Levi & Korsinsky, Faruqi & Faruqi, Rosen, Pomerantz, the Schall Law Firm, and others add to the legal noise around the stock. Bronstein, Gewirtz & Grossman LLC Urges First Solar, Inc. Investors to Act: Class Action Filed Alleging Investor Harm

Analyst Ratings Changes

Several brokerages recently commented on FSLR. Zacks Research upgraded First Solar from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Susquehanna lowered their target price on First Solar from $280.00 to $250.00 and set a “positive” rating for the company in a report on Thursday, April 9th. Freedom Capital raised First Solar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Weiss Ratings upgraded First Solar from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 25th. Finally, BMO Capital Markets reduced their price objective on shares of First Solar from $252.00 to $237.00 and set a “market perform” rating for the company in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $249.78.

First Solar Stock Down 1.6%

FSLR stock opened at $232.08 on Thursday. The firm has a market capitalization of $24.94 billion, a PE ratio of 14.99, a P/E/G ratio of 0.52 and a beta of 1.74. 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 twelve month low of $159.85 and a twelve month high of $320.95. The stock’s 50 day moving average is $246.09 and its 200-day moving average is $232.33.

First Solar (NASDAQ:FSLR) 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. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the firm posted $1.95 EPS. First Solar’s quarterly revenue was up 23.6% compared to the same quarter last year. Sell-side analysts expect that First Solar, Inc. will post 17.61 EPS for the current fiscal year.

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.