Lightrock Netherlands B.V. Reduces Holdings in First Solar, Inc. $FSLR

Lightrock Netherlands B.V. decreased its holdings in First Solar, Inc. (NASDAQ:FSLR) by 54.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,638 shares of the solar cell manufacturer’s stock after selling 57,223 shares during the quarter. First Solar accounts for about 1.9% of Lightrock Netherlands B.V.’s investment portfolio, making the stock its 27th largest position. Lightrock Netherlands B.V.’s holdings in First Solar were worth $8,052,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen LLC bought a new stake in First Solar during the 1st quarter worth approximately $114,730,000. Canada Pension Plan Investment Board raised its stake in First Solar by 16,857.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 759,033 shares of the solar cell manufacturer’s stock worth $95,965,000 after acquiring an additional 754,557 shares during the period. Invesco Ltd. raised its stake in First Solar by 32.3% during the 1st quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer’s stock worth $306,909,000 after acquiring an additional 592,444 shares during the period. Jones Financial Companies Lllp raised its stake in First Solar by 22,107.8% during the 1st quarter. Jones Financial Companies Lllp now owns 512,556 shares of the solar cell manufacturer’s stock worth $64,802,000 after acquiring an additional 510,248 shares during the period. Finally, Hill City Capital LP raised its stake in First Solar by 59.4% during the 1st quarter. Hill City Capital LP now owns 1,355,000 shares of the solar cell manufacturer’s stock worth $171,313,000 after acquiring an additional 505,000 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Trading Down 3.3%

Shares of FSLR opened at $239.60 on Wednesday. The company’s fifty day moving average is $216.38 and its 200 day moving average is $180.86. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $249.56. The stock has a market capitalization of $25.70 billion, a PE ratio of 20.50, a P/E/G ratio of 0.47 and a beta of 1.38. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.50. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business posted $3.25 earnings per share. First Solar’s quarterly revenue was up 8.6% on a year-over-year basis. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Sell-side analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Robert W. Baird raised their target price on shares of First Solar from $240.00 to $264.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Mizuho raised their target price on shares of First Solar from $275.00 to $278.00 and gave the stock an “outperform” rating in a research note on Monday, July 14th. Royal Bank Of Canada raised their target price on shares of First Solar from $201.00 to $244.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Needham & Company LLC initiated coverage on shares of First Solar in a research report on Wednesday, October 22nd. They set a “buy” rating and a $286.00 price objective on the stock. Finally, TD Cowen lifted their price objective on shares of First Solar from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.81.

Insider Buying and Selling at First Solar

In other First Solar news, CAO Nathan B. Theurer sold 686 shares of First Solar stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 2,321 shares of First Solar stock in a transaction on Friday, August 15th. The stock was sold at an average price of $199.44, for a total transaction of $462,900.24. Following the transaction, the chief executive officer directly owned 81,861 shares of the company’s stock, valued at $16,326,357.84. The trade was a 2.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,715 shares of company stock worth $5,733,305 in the last 90 days. 0.48% of the stock is currently owned by company insiders.

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.