Jennison Associates LLC Has $478,000 Stake in First Solar, Inc. $FSLR

Jennison Associates LLC lowered its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 95.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,422 shares of the solar cell manufacturer’s stock after selling 55,970 shares during the period. Jennison Associates LLC’s holdings in First Solar were worth $478,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Apollon Wealth Management LLC grew its holdings in First Solar by 1.2% in the 4th quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer’s stock valued at $942,000 after buying an additional 44 shares in the last quarter. Root Financial Partners LLC lifted its holdings in shares of First Solar by 18.2% during the fourth quarter. Root Financial Partners LLC now owns 292 shares of the solar cell manufacturer’s stock worth $76,000 after buying an additional 45 shares in the last quarter. FIL Ltd boosted its position in shares of First Solar by 6.9% in the fourth quarter. FIL Ltd now owns 708 shares of the solar cell manufacturer’s stock valued at $185,000 after acquiring an additional 46 shares during the period. Fielder Capital Group LLC boosted its position in shares of First Solar by 4.1% in the fourth quarter. Fielder Capital Group LLC now owns 1,196 shares of the solar cell manufacturer’s stock valued at $312,000 after acquiring an additional 47 shares during the period. Finally, Burford Brothers Inc. grew its stake in shares of First Solar by 0.3% in the fourth quarter. Burford Brothers Inc. now owns 19,080 shares of the solar cell manufacturer’s stock valued at $4,984,000 after acquiring an additional 48 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting First Solar

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

• Negative Sentiment: Several firms, including Bronstein, Gewirtz & Grossman, Pomerantz, Faruqi & Faruqi, Levi & Korsinsky, and others, announced or reminded investors about a securities class-action lawsuit against First Solar, adding legal overhang and uncertainty for the stock. Article Title
• Negative Sentiment: The lawsuit allegations focus on alleged investor harm and claims that First Solar overstated favorable long-term conditions while its international facilities faced mounting headwinds, which could raise concerns about future disclosures and potential settlement costs. Article Title
• Neutral Sentiment: TD Cowen reportedly reiterated a Buy rating, and Zacks highlighted that First Solar may be positioned to beat upcoming earnings estimates, offering some offsetting support from the analyst and fundamentals side. Article Title
• Neutral Sentiment: Recent trading has been choppy, with one session showing a modest rise and another showing the stock underperforming the broader market, suggesting investors are balancing earnings optimism against legal headlines. Article Title

Wall Street Analyst Weigh In

A number of research firms recently commented on FSLR. Evercore raised their price target on shares of First Solar from $212.00 to $219.00 in a research report on Monday, May 4th. Morgan Stanley boosted their price objective on shares of First Solar from $230.00 to $245.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. The Goldman Sachs Group increased their target price on shares of First Solar from $300.00 to $310.00 in a research report on Friday, May 1st. UBS Group raised their target price on shares of First Solar from $290.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Finally, Truist Financial began coverage on shares of First Solar in a research report on Monday, July 13th. They issued a “hold” rating and a $249.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $257.10.

First Solar Trading Down 1.4%

FSLR opened at $205.92 on Friday. The stock has a market capitalization of $22.13 billion, a price-to-earnings ratio of 13.30, a P/E/G ratio of 0.46 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 twelve month low of $171.99 and a twelve month high of $320.95. The company has a 50-day simple moving average of $249.20 and a 200 day simple moving average of $227.09.

First Solar (NASDAQ:FSLR) last released its 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 firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The business’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same period last year, the firm earned $1.95 EPS. Analysts predict that First Solar, Inc. will post 17.54 EPS for the current fiscal year.

Insider Buying and Selling at First Solar

In related news, insider Kuntal Kumar Verma sold 582 shares of First Solar stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $250.00, for a total value of $145,500.00. Following the transaction, the insider directly owned 4,967 shares of the company’s stock, valued at $1,241,750. This trade represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 business’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 $90,564.60. Following the transaction, the chief technology officer owned 10,896 shares of the company’s stock, valued at approximately $2,349,504.48. This represents 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. Insiders have sold a total of 31,893 shares of company stock worth $7,893,775 in the last three months. Company insiders own 0.39% of the company’s stock.

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.