Himension Capital Singapore PTE. LTD. Has $2.12 Million Stock Holdings in First Solar, Inc. $FSLR

Himension Capital Singapore PTE. LTD. raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 69.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 10,746 shares of the solar cell manufacturer’s stock after purchasing an additional 4,398 shares during the quarter. Himension Capital Singapore PTE. LTD.’s holdings in First Solar were worth $2,120,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Pictet Asset Management Holding SA boosted its holdings in First Solar by 29.3% during the first quarter. Pictet Asset Management Holding SA now owns 1,138,473 shares of the solar cell manufacturer’s stock worth $224,540,000 after buying an additional 258,204 shares during the last quarter. Atlatl Advisers LLC bought a new stake in shares of First Solar in the 4th quarter valued at about $1,697,000. Lee Johnson Capital Management LLC bought a new stake in shares of First Solar in the 4th quarter valued at about $5,304,000. Northwestern Mutual Wealth Management Co. raised its position in shares of First Solar by 1,054.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 52,219 shares of the solar cell manufacturer’s stock valued at $13,641,000 after acquiring an additional 47,695 shares during the period. Finally, Genus Capital Management Inc. bought a new position in First Solar during the 4th quarter worth approximately $4,525,000. 92.08% of the stock is currently owned by institutional investors.

First Solar Price Performance

Shares of FSLR opened at $206.05 on Wednesday. The stock has a 50 day simple moving average of $250.23 and a 200 day simple moving average of $227.94. First Solar, Inc. has a 52-week low of $171.99 and a 52-week high of $320.95. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. The firm has a market capitalization of $22.14 billion, a PE ratio of 13.31, a P/E/G ratio of 0.46 and a beta of 1.73.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the company posted $1.95 EPS. The business’s quarterly revenue was up 23.6% on a year-over-year basis. Sell-side analysts predict that First Solar, Inc. will post 17.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. HSBC boosted their price objective on shares of First Solar from $211.00 to $231.00 and gave the company a “hold” rating in a report on Tuesday, May 5th. UBS Group lifted their price target on shares of First Solar from $290.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Evercore boosted their price target on shares of First Solar from $212.00 to $219.00 in a report on Monday, May 4th. Morgan Stanley upped their price objective on shares of First Solar from $230.00 to $245.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Finally, Weiss Ratings raised First Solar from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $257.10.

Insider Buying and Selling at First Solar

In related news, CTO Markus Gloeckler sold 420 shares of the firm’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 sale, the chief technology officer directly owned 10,896 shares in the company, valued at $2,349,504.48. This trade represents a 3.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 Caroline Stockdale sold 10,628 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $275.60, for a total transaction of $2,929,076.80. Following the completion of the sale, the insider directly owned 23,792 shares in the company, valued at $6,557,075.20. This represents a 30.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 31,893 shares of company stock valued at $7,893,775 over the last quarter. 0.39% of the stock is currently owned by corporate insiders.

More First Solar News

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

• Positive Sentiment: First Solar continues to draw attention from investors and analysts because of its growth in U.S. solar manufacturing and exposure to domestic solar demand. Article Title
• Neutral Sentiment: Several law firms issued reminder notices about the pending securities class action and the August 24 deadline for investors to seek lead-plaintiff status. Article Title
• Neutral Sentiment: Pomerantz announced that a class action has been filed against First Solar and certain officers, alleging securities-law violations tied to the class period. Article Title
• Negative Sentiment: The lawsuit and repeated legal notices highlight alleged misrepresentations about module production underutilization and the challenges of onshoring operations, which can weigh on investor sentiment and raise litigation risk. Article Title

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.