KBC Group NV Lowers Holdings in First Solar, Inc. $FSLR

KBC Group NV lowered its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 8.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,522 shares of the solar cell manufacturer’s stock after selling 5,508 shares during the quarter. KBC Group NV owned about 0.05% of First Solar worth $11,545,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Woodline Partners LP boosted its holdings in shares of First Solar by 40.7% in the 1st quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock valued at $1,143,000 after purchasing an additional 2,615 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of 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 buying an additional 174 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of 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 buying an additional 2,072 shares during the last quarter. Cerity Partners LLC purchased a new position in shares of First Solar in the 2nd quarter worth $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 buying an additional 1,115 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Stock Up 1.4%

Shares of First Solar stock opened at $208.86 on Thursday. First Solar, Inc. has a twelve month low of $171.99 and a twelve month high of $320.95. The stock has a market cap of $22.44 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 0.46 and a beta of 1.73. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average price of $249.71 and a 200 day moving average price of $227.57.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data 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. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company posted $1.95 earnings per share. The firm’s revenue was up 23.6% compared to the same quarter last year. Equities research analysts forecast that First Solar, Inc. will post 17.54 earnings per share for the current fiscal year.

More First Solar News

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

• Positive Sentiment: TD Cowen was reported to have a Buy view on First Solar, which may have supported bullish sentiment around the stock. Article Title
• Positive Sentiment: First Solar was highlighted as rising while the broader market dipped, suggesting relative strength and investor demand for the solar name. Article Title
• Neutral Sentiment: Analyst commentary across the sector was described as mixed, which adds some uncertainty but does not appear to have changed the core investment case by itself. Article Title
• Negative Sentiment: Multiple law firms are promoting a securities class action tied to First Solar, with lead-plaintiff deadlines and allegations of investor losses, which can weigh on sentiment and raise legal overhang concerns. Article Title
• Negative Sentiment: The newly filed class action and related shareholder notices add legal risk and could pressure the stock if investors focus on potential damages and management scrutiny. Article Title

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FSLR shares. TD Cowen reiterated a “buy” rating on shares of First Solar in a report on Monday. HSBC upped their price target on First Solar from $211.00 to $231.00 and gave the stock a “hold” rating in a research note on Tuesday, May 5th. UBS Group lifted their price objective on First Solar from $290.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. The Goldman Sachs Group lifted their price objective on First Solar from $300.00 to $310.00 in a research note on Friday, May 1st. Finally, BMO Capital Markets decreased their target price on First Solar from $252.00 to $237.00 and set a “market perform” rating for the company in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, First Solar currently has an average rating of “Moderate Buy” and an average target price of $257.10.

Insider Buying and Selling at First Solar

In other news, 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 transaction, the chief technology officer directly owned 10,896 shares of the company’s stock, valued at approximately $2,349,504.48. The trade was a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kuntal Kumar Verma sold 582 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $250.00, for a total transaction of $145,500.00. Following the completion of the transaction, the insider 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 31,893 shares of company stock worth $7,893,775. 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.