First Solar, Inc. $FSLR Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC reduced its holdings in First Solar, Inc. (NASDAQ:FSLR) by 66.7% in the 3rd quarter, Holdings Channel reports. The fund owned 4,915 shares of the solar cell manufacturer’s stock after selling 9,827 shares during the period. Prime Capital Investment Advisors LLC’s holdings in First Solar were worth $861,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of FSLR. Pictet Asset Management Holding SA lifted its position in shares of First Solar by 29.3% in 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 purchasing an additional 258,204 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in shares of First Solar during the second quarter worth approximately $4,019,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in First Solar by 7.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,535,836 shares of the solar cell manufacturer’s stock valued at $362,396,000 after purchasing an additional 100,694 shares in the last quarter. Jupiter Topco LLC purchased a new position in First Solar during the second quarter valued at approximately $6,121,000. Finally, Handelsbanken Fonder AB grew its position in First Solar by 15.0% during the second quarter. Handelsbanken Fonder AB now owns 683,112 shares of the solar cell manufacturer’s stock valued at $161,187,000 after purchasing an additional 89,214 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Price Performance

Shares of First Solar stock opened at $171.99 on Friday. The firm has a market cap of $18.48 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 0.47 and a beta of 1.80. First Solar, Inc. has a 52-week low of $168.60 and a 52-week high of $320.95. The stock has a 50-day simple moving average of $192.86 and a 200-day simple moving average of $218.21.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 EPS for the quarter, beating the consensus estimate of $2.90 by $1.02. First Solar had a return on equity of 18.02% and a net margin of 32.47%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the business posted $3.18 EPS. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. As a group, equities research analysts predict that First Solar, Inc. will post 17.63 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other First Solar news, General Counsel Jason E. Dymbort sold 3,700 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $249.38, for a total value of $922,706.00. Following the completion of the sale, the general counsel directly owned 5,624 shares of the company’s stock, valued at $1,402,513.12. The trade was a 39.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Markus Gloeckler sold 3,425 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $218.95, for a total transaction of $749,903.75. Following the completion of the sale, the chief technology officer directly owned 7,471 shares of the company’s stock, valued at $1,635,775.45. This represents a 31.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,681 shares of company stock worth $3,756,286 in the last ninety days. Insiders own 0.39% of the company’s stock.

Trending Headlines about First Solar

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

• Positive Sentiment: BMO Capital issued a Buy rating on First Solar, providing a constructive analyst signal that may support investor confidence in the company’s long-term growth prospects. First Solar Gets a Buy from BMO Capital
• Positive Sentiment: Analysts and investors are focused on whether U.S. demand for domestically manufactured solar panels is strengthening. Firm domestic demand could benefit First Solar’s production utilization and revenue outlook. Is Domestic Panel Demand Firming for First Solar?
• Neutral Sentiment: First Solar is scheduled to report quarterly earnings, making the upcoming results, management guidance and commentary on demand key near-term catalysts. First Solar Projected to Announce Quarterly Earnings
• Neutral Sentiment: Investor attention has increased, with First Solar appearing among trending stocks. The heightened visibility could increase trading activity but does not itself change the company’s fundamentals. First Solar Is a Trending Stock
• Neutral Sentiment: Coverage is also highlighting First Solar’s substantial cash position, which may provide financial flexibility for expansion and help cushion periods of industry volatility. Should You Buy First Solar Stock For Its Cash?
• Negative Sentiment: Zacks reported that First Solar underperformed the broader market in the latest session, reflecting near-term selling pressure. First Solar Declines More Than the Market
• Negative Sentiment: Pre-earnings analysis says First Solar lacks the combination of earnings-estimate revisions and surprise indicators typically associated with a likely earnings beat. That raises the risk of a cautious reaction if results or guidance disappoint. First Solar Earnings Expected to Grow

Analyst Upgrades and Downgrades

Several research firms have weighed in on FSLR. Truist Financial set a $270.00 price objective on shares of First Solar and gave the company a “buy” rating in a research note on Monday, October 12th. Deutsche Bank Aktiengesellschaft lowered shares of First Solar from a “buy” rating to a “hold” rating in a research note on Thursday, August 27th. Argus restated a “buy” rating and set a $275.00 price target on shares of First Solar in a report on Wednesday, August 26th. Roth Capital reaffirmed a “buy” rating and issued a $300.00 price target on shares of First Solar in a research note on Friday, July 24th. Finally, BMO Capital Markets lowered First Solar from a “hold” rating to a “market perform” rating in a report on Thursday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, First Solar has an average rating of “Moderate Buy” and an average price target of $265.73.

First Solar Profile

First Solar, Inc is a vertically integrated solar technology and manufacturing company that designs, manufactures and sells photovoltaic (PV) solar modules. Its modules use advanced thin-film semiconductor technology based on cadmium telluride (CdTe), rather than the crystalline-silicon technology used by most solar manufacturers. The company serves utility-scale solar developers, commercial and industrial customers, and other large-scale energy users.

Founded in 1999 and headquartered in Tempe, Arizona, First Solar operates research and development, manufacturing and recycling facilities in the United States and internationally.