American Century Companies Inc. Reduces Stock Position in First Solar, Inc. $FSLR

American Century Companies Inc. cut its stake in First Solar, Inc. (NASDAQ:FSLR) by 10.6% in the second quarter, HoldingsChannel.com reports. The fund owned 37,906 shares of the solar cell manufacturer’s stock after selling 4,509 shares during the period. American Century Companies Inc.’s holdings in First Solar were worth $6,275,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. SFE Investment Counsel lifted its holdings in shares of First Solar by 9.1% during the 2nd quarter. SFE Investment Counsel now owns 69,810 shares of the solar cell manufacturer’s stock valued at $11,556,000 after buying an additional 5,852 shares during the period. Raymond James Financial Inc. grew its holdings in shares of First Solar by 57.2% in the first quarter. Raymond James Financial Inc. now owns 43,991 shares of the solar cell manufacturer’s stock worth $5,562,000 after acquiring an additional 16,003 shares during the period. Sumitomo Mitsui Financial Group Inc. increased its position in First Solar by 18.2% during the first quarter. Sumitomo Mitsui Financial Group Inc. now owns 101,659 shares of the solar cell manufacturer’s stock valued at $12,853,000 after acquiring an additional 15,656 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in First Solar in the second quarter valued at about $1,323,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in First Solar by 49.3% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,251 shares of the solar cell manufacturer’s stock valued at $10,471,000 after acquiring an additional 20,884 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FSLR has been the subject of a number of recent research reports. Bank of America boosted their price target on First Solar from $209.00 to $254.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Cowen reissued a “buy” rating on shares of First Solar in a report on Friday, October 31st. UBS Group boosted their target price on shares of First Solar from $275.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Jefferies Financial Group set a $269.00 target price on shares of First Solar and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Royal Bank Of Canada lifted their price target on shares of First Solar from $201.00 to $244.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $269.79.

Insider Buying and Selling

In related news, Director Paul H. Stebbins sold 7,000 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $262.40, for a total value of $1,836,800.00. Following the completion of the transaction, the director owned 15,287 shares of the company’s stock, valued at approximately $4,011,308.80. This represents a 31.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael T. Sweeney sold 4,500 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $271.11, for a total value of $1,219,995.00. Following the sale, the director directly owned 13,662 shares in the company, valued at approximately $3,703,904.82. This represents a 24.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 48,912 shares of company stock valued at $12,971,349. Company insiders own 0.48% of the company’s stock.

First Solar Trading Up 0.1%

First Solar stock opened at $257.61 on Friday. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $281.55. The firm has a market capitalization of $27.64 billion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 0.50 and a beta of 1.59. The firm has a 50 day moving average of $247.43 and a 200 day moving average of $203.95. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03.

First Solar (NASDAQ:FSLR) last posted its quarterly 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 return on equity of 16.61% and a net margin of 27.73%.The business’s revenue for the quarter was up 79.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.91 earnings per share. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. As a group, research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current 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.