Mirova US LLC Has $201.11 Million Stock Holdings in First Solar, Inc. $FSLR

Mirova US LLC decreased its stake in First Solar, Inc. (NASDAQ:FSLR) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 911,917 shares of the solar cell manufacturer’s stock after selling 33,014 shares during the period. First Solar accounts for about 2.0% of Mirova US LLC’s holdings, making the stock its 22nd biggest holding. Mirova US LLC’s holdings in First Solar were worth $201,105,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of FSLR. Ethic Inc. boosted its holdings in shares of First Solar by 0.3% during the 3rd quarter. Ethic Inc. now owns 20,443 shares of the solar cell manufacturer’s stock worth $4,508,000 after buying an additional 59 shares in the last quarter. Harrington Investments INC increased its holdings in First Solar by 0.5% during the 2nd quarter. Harrington Investments INC now owns 13,278 shares of the solar cell manufacturer’s stock worth $2,198,000 after purchasing an additional 65 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in First Solar by 13.4% during the 2nd quarter. Penserra Capital Management LLC now owns 560 shares of the solar cell manufacturer’s stock worth $92,000 after acquiring an additional 66 shares during the last quarter. Hantz Financial Services Inc. grew its position in First Solar by 69.4% in the 2nd quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock worth $30,000 after purchasing an additional 75 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of First Solar by 5.3% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,582 shares of the solar cell manufacturer’s stock valued at $200,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on FSLR. KeyCorp reaffirmed an “overweight” rating on shares of First Solar in a research report on Friday, October 31st. Wells Fargo & Company increased their price target on shares of First Solar from $270.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Robert W. Baird upped their price target on shares of First Solar from $240.00 to $264.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Evercore ISI lifted their price objective on First Solar from $240.90 to $241.00 in a research report on Friday, October 31st. Finally, Roth Capital set a $300.00 price objective on First Solar in a research report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, First Solar has an average rating of “Moderate Buy” and an average price target of $271.27.

First Solar Stock Performance

FSLR stock opened at $268.25 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.91 and a quick ratio of 1.55. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $285.99. The company has a market cap of $28.79 billion, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 0.53 and a beta of 1.59. The stock’s fifty day moving average price is $258.61 and its 200-day moving average price is $216.01.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.56 billion. First Solar had a net margin of 27.73% and a return on equity of 16.61%. The firm’s revenue was up 79.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.91 EPS. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. On average, equities analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Paul H. Stebbins sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $262.40, for a total transaction of $1,836,800.00. Following the completion of the sale, the director directly owned 15,287 shares in the company, valued at approximately $4,011,308.80. The trade was a 31.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael T. Sweeney sold 4,500 shares of the company’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 sale, the director directly owned 13,662 shares of the company’s stock, valued at approximately $3,703,904.82. This represents a 24.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 48,912 shares of company stock valued at $12,971,349. 0.48% of the stock is owned by insiders.

About First Solar

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.