Kestra Private Wealth Services LLC Boosts Stock Holdings in First Solar, Inc. $FSLR

Kestra Private Wealth Services LLC lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 140.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,428 shares of the solar cell manufacturer’s stock after buying an additional 2,588 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in First Solar were worth $873,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in First Solar during the 4th quarter valued at $392,040,000. Viking Global Investors LP boosted its holdings in shares of First Solar by 60.6% in the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after acquiring an additional 854,919 shares during the period. Polar Capital Holdings Plc purchased a new position in shares of First Solar in the fourth quarter valued at $200,109,000. Lightrock Netherlands B.V. raised its stake in shares of First Solar by 2,663.8% during the 4th quarter. Lightrock Netherlands B.V. now owns 666,307 shares of the solar cell manufacturer’s stock valued at $174,059,000 after purchasing an additional 642,199 shares during the period. Finally, Amundi raised its stake in shares of First Solar by 38.6% during the 3rd quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer’s stock valued at $459,917,000 after purchasing an additional 564,032 shares during the period. 92.08% of the stock is owned by institutional investors.

Key First Solar News

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

• Positive Sentiment: First Solar continues to be highlighted for its long-term growth potential, including U.S. manufacturing expansion, a strong backlog, and leadership in thin-film CdTe solar technology. Can First Solar’s Manufacturing Expansion Drive Long-Term Growth?
• Positive Sentiment: The company is also drawing attention for strengthening its module recycling efforts, reinforcing its sustainability strategy and lifecycle leadership in solar. How Is First Solar Strengthening Its Module Recycling Leadership?
• Neutral Sentiment: Several articles note that First Solar is a trending stock, reflecting elevated investor interest rather than a clear new fundamental catalyst. First Solar, Inc. (FSLR) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: The biggest drag on sentiment is a cluster of class-action lawsuit notices and lead-plaintiff deadline reminders from multiple law firms, which can raise concerns about alleged investor harm and legal overhang. Deadline Approaching: First Solar, Inc. (FSLR) Shareholders Who Lost Money Urged to Contact Law Offices of Howard G. Smith
• Negative Sentiment: Additional lawsuits and investor alerts from firms including Bronstein, Gewirtz & Grossman, Levi & Korsinsky, Faruqi & Faruqi, Rosen, Pomerantz, the Schall Law Firm, and others add to the legal noise around the stock. Bronstein, Gewirtz & Grossman LLC Urges First Solar, Inc. Investors to Act: Class Action Filed Alleging Investor Harm

Insiders Place Their Bets

In other news, CEO Mark R. Widmar sold 9,926 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $233.21, for a total value of $2,314,842.46. Following the transaction, the chief executive officer owned 95,148 shares of the company’s stock, valued at $22,189,465.08. This represents a 9.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Caroline Stockdale sold 10,628 shares of the firm’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 sale, the insider owned 23,792 shares in the company, valued at approximately $6,557,075.20. This trade represents a 30.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 32,466 shares of company stock worth $8,014,105. 0.39% of the stock is owned by corporate insiders.

First Solar Stock Performance

NASDAQ:FSLR opened at $232.08 on Thursday. The stock has a market cap of $24.94 billion, a P/E ratio of 14.99, a PEG ratio of 0.52 and a beta of 1.74. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average price is $246.09 and its two-hundred day moving average price is $232.33. First Solar, Inc. has a twelve month low of $159.85 and a twelve month high of $320.95.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data 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. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.First Solar’s revenue was up 23.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.95 earnings per share. As a group, equities analysts predict that First Solar, Inc. will post 17.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. UBS Group raised their target price on First Solar from $290.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. The Goldman Sachs Group upped their price target on First Solar from $300.00 to $310.00 in a research report on Friday, May 1st. Susquehanna cut their price objective on shares of First Solar from $280.00 to $250.00 and set a “positive” rating for the company in a research report on Thursday, April 9th. Zacks Research raised shares of First Solar from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating on shares of First Solar in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $249.78.

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.