Assetmark Inc. Has $4.19 Million Holdings in First Solar, Inc. $FSLR

Assetmark Inc. lifted its position in First Solar, Inc. (NASDAQ:FSLR) by 3,457.5% in the 1st quarter, Holdings Channel reports. The fund owned 21,238 shares of the solar cell manufacturer’s stock after buying an additional 20,641 shares during the period. Assetmark Inc.’s holdings in First Solar were worth $4,189,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FSLR. Norges Bank purchased a new position in First Solar during the 4th quarter worth approximately $392,040,000. Viking Global Investors LP lifted 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 valued at $375,122,000 after purchasing an additional 854,919 shares in the last quarter. Polar Capital Holdings Plc purchased a new stake in shares of First Solar in the fourth quarter valued at $200,109,000. Lightrock Netherlands B.V. boosted its position in shares of First Solar by 2,663.8% in the fourth quarter. Lightrock Netherlands B.V. now owns 666,307 shares of the solar cell manufacturer’s stock worth $174,059,000 after buying an additional 642,199 shares during the period. Finally, Amundi boosted its position in shares of First Solar by 38.6% in the third quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer’s stock worth $459,917,000 after buying an additional 564,032 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Barclays upped their price target on First Solar from $213.00 to $279.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Weiss Ratings upgraded First Solar from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 25th. Citigroup reaffirmed a “buy” rating on shares of First Solar in a research note on Wednesday. Argus upped their target price on First Solar from $250.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Finally, UBS Group increased 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. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $257.10.

First Solar Stock Performance

FSLR stock opened at $208.86 on Thursday. The firm has a 50 day moving average of $249.71 and a two-hundred day moving average of $227.57. First Solar, Inc. has a 12 month low of $171.99 and a 12 month high of $320.95. The company has a market capitalization of $22.44 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 0.46 and a beta of 1.73. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02.

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

Key First Solar News

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

• Positive Sentiment: TD Cowen was reported to have a Buy view on First Solar, which may have supported bullish sentiment around the stock. Article Title
• Positive Sentiment: First Solar was highlighted as rising while the broader market dipped, suggesting relative strength and investor demand for the solar name. Article Title
• Neutral Sentiment: Analyst commentary across the sector was described as mixed, which adds some uncertainty but does not appear to have changed the core investment case by itself. Article Title
• Negative Sentiment: Multiple law firms are promoting a securities class action tied to First Solar, with lead-plaintiff deadlines and allegations of investor losses, which can weigh on sentiment and raise legal overhang concerns. Article Title
• Negative Sentiment: The newly filed class action and related shareholder notices add legal risk and could pressure the stock if investors focus on potential damages and management scrutiny. Article Title

Insider Activity

In other news, insider Georges Antoun sold 566 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $122,046.58. Following the completion of the sale, the insider owned 19,918 shares in the company, valued at approximately $4,294,918.34. This represents a 2.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Alexander R. Bradley sold 498 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $107,383.74. Following the transaction, the chief financial officer directly owned 30,712 shares in the company, valued at approximately $6,622,428.56. This represents a 1.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 31,893 shares of company stock valued at $7,893,775. Corporate insiders own 0.39% of the company’s stock.

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.