First Solar, Inc. $FSLR Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 26.3% during the first quarter, Holdings Channel reports. The firm owned 128,905 shares of the solar cell manufacturer’s stock after selling 46,070 shares during the period. California Public Employees Retirement System’s holdings in First Solar were worth $25,428,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its position in shares of First Solar by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 2,919,991 shares of the solar cell manufacturer’s stock valued at $761,396,000 after buying an additional 24,206 shares during the last quarter. Viking Global Investors LP boosted its stake in 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 acquiring an additional 854,919 shares in the last quarter. Amundi boosted its stake in First Solar by 9.4% in the fourth quarter. Amundi now owns 2,215,461 shares of the solar cell manufacturer’s stock valued at $578,791,000 after acquiring an additional 189,626 shares in the last quarter. Norges Bank purchased a new position in shares of First Solar during the fourth quarter worth about $392,040,000. Finally, Schroder Investment Management Group grew its holdings in shares of First Solar by 7.6% during the fourth quarter. Schroder Investment Management Group now owns 1,427,105 shares of the solar cell manufacturer’s stock worth $372,803,000 after purchasing an additional 100,908 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insiders Place Their Bets

In related news, General Counsel Jason E. Dymbort sold 409 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $88,192.67. Following the completion of the sale, the general counsel owned 10,409 shares in the company, valued at $2,244,492.67. This trade represents a 3.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mark R. Widmar sold 4,815 shares of First Solar stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $247.43, for a total value of $1,191,375.45. Following the completion of the sale, the chief executive officer directly owned 89,033 shares in the company, valued at $22,029,435.19. This represents a 5.13% 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 31,893 shares of company stock valued at $7,893,775. Corporate insiders own 0.39% of the company’s stock.

First Solar Price Performance

First Solar stock opened at $208.86 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15. The business has a 50 day simple moving average of $249.71 and a 200-day simple 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 stock has a market capitalization of $22.44 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 0.46 and a beta of 1.73.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data 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. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. First Solar’s quarterly revenue was up 23.6% on a year-over-year basis. During the same period last year, the firm posted $1.95 EPS. Equities analysts predict that First Solar, Inc. will post 17.54 earnings per share for the current 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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. BMO Capital Markets cut their price target on First Solar from $252.00 to $237.00 and set a “market perform” rating on the stock in a research report on Monday, April 20th. Deutsche Bank Aktiengesellschaft upgraded shares of First Solar from a “hold” rating to a “buy” rating and raised their target price for the stock from $245.00 to $272.00 in a research report on Monday, July 6th. TD Cowen reaffirmed a “buy” rating on shares of First Solar in a report on Monday. Truist Financial began coverage on shares of First Solar in a research report on Monday, July 13th. They issued a “hold” rating and a $249.00 price target for the company. Finally, Susquehanna increased their price target on shares of First Solar from $250.00 to $270.00 and gave the stock a “positive” rating in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $257.10.

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.