First Solar, Inc. $FSLR Holdings Trimmed by Legal & General Group Plc

Legal & General Group Plc reduced its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 14.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 724,668 shares of the solar cell manufacturer’s stock after selling 119,369 shares during the period. Legal & General Group Plc owned approximately 0.68% of First Solar worth $119,962,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FSLR. Neo Ivy Capital Management bought a new position in shares of First Solar during the 2nd quarter valued at about $799,000. DNB Asset Management AS lifted its stake in First Solar by 86.4% during the second quarter. DNB Asset Management AS now owns 70,087 shares of the solar cell manufacturer’s stock valued at $11,602,000 after purchasing an additional 32,489 shares during the last quarter. Swiss National Bank boosted its holdings in First Solar by 7.5% during the second quarter. Swiss National Bank now owns 308,400 shares of the solar cell manufacturer’s stock worth $51,053,000 after buying an additional 21,500 shares in the last quarter. ABN AMRO Bank N.V. acquired a new position in First Solar in the second quarter worth approximately $30,677,000. Finally, Handelsbanken Fonder AB grew its position in First Solar by 67.7% in the second quarter. Handelsbanken Fonder AB now owns 706,576 shares of the solar cell manufacturer’s stock worth $116,967,000 after buying an additional 285,359 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on FSLR. Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a research report on Friday, August 1st. Morgan Stanley set a $275.00 target price on First Solar in a report on Friday, October 31st. Deutsche Bank Aktiengesellschaft increased their price target on First Solar from $225.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Rothschild & Co Redburn boosted their price objective on First Solar from $150.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Finally, Seaport Global Securities raised their target price on shares of First Solar from $217.00 to $305.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $269.79.

Insider Activity at First Solar

In related news, Director Michael T. Sweeney sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $271.11, for a total transaction of $1,219,995.00. Following the transaction, the director directly owned 13,662 shares of the company’s stock, valued at approximately $3,703,904.82. The trade was a 24.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Georges Antoun sold 37,412 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $265.01, for a total transaction of $9,914,554.12. Following the completion of the sale, the insider owned 15,424 shares of the company’s stock, valued at approximately $4,087,514.24. The trade was a 70.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 48,912 shares of company stock valued at $12,971,349. Corporate insiders own 0.48% of the company’s stock.

First Solar Stock Up 4.0%

Shares of First Solar stock opened at $259.85 on Tuesday. The stock has a 50-day moving average price of $238.64 and a 200 day moving average price of $198.37. The company has a market cap of $27.88 billion, a P/E ratio of 22.23, a P/E/G ratio of 0.46 and a beta of 1.51. The company has a current ratio of 1.90, a quick ratio of 1.41 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 $281.55.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing the consensus estimate of $4.32 by ($0.08). The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.56 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The company’s revenue was up 79.7% compared to the same quarter last year. During the same period last year, the firm earned $2.91 EPS. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. As a group, analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

First Solar Company 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.