First Solar, Inc. $FSLR Stock Position Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its holdings in First Solar, Inc. (NASDAQ:FSLR) by 3.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 220,888 shares of the solar cell manufacturer’s stock after selling 7,376 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in First Solar were worth $38,691,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in FSLR. BlackRock Inc. purchased a new stake in First Solar in the second quarter valued at approximately $3,310,298,000. Hill City Capital LP acquired a new position in First Solar in the second quarter valued at $620,133,555. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in First Solar by 7.0% during the 2nd 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 acquiring an additional 100,694 shares during the last quarter. Dimensional Fund Advisors LP increased its position in First Solar by 4.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,305,471 shares of the solar cell manufacturer’s stock worth $257,441,000 after purchasing an additional 56,300 shares during the period. Finally, Deutsche Bank AG acquired a new position in First Solar during the second quarter worth $212,626,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Solar

In other First Solar news, EVP Samantha Sloan sold 127 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $222.95, for a total value of $28,314.65. Following the completion of the transaction, the executive vice president directly owned 2,018 shares in the company, valued at approximately $449,913.10. This represents a 5.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Jason Dymbort sold 3,700 shares of the firm’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 transaction of $922,706.00. Following the transaction, the general counsel directly owned 5,624 shares of the company’s stock, valued at $1,402,513.12. This represents a 39.68% decrease in their position. 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. Over the last quarter, insiders have sold 5,427 shares of company stock worth $1,250,221. 0.39% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FSLR. Glj Research cut First Solar from a “buy” rating to a “hold” rating and set a $161.00 target price on the stock. in a report on Friday, October 30th. BNP Paribas Exane began coverage on shares of First Solar in a research report on Friday, October 30th. They issued a “strong-buy” rating for the company. Argus reaffirmed a “buy” rating and set a $275.00 price objective on shares of First Solar in a research note on Wednesday, August 26th. Evercore reissued a “positive” rating and issued a $218.00 target price on shares of First Solar in a research report on Monday, August 17th. Finally, Truist Financial upgraded shares of First Solar from a “hold” rating to a “buy” rating and upped their target price for the company from $229.00 to $270.00 in a research note on Monday, October 12th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.38.

First Solar Stock Up 4.6%

NASDAQ FSLR opened at $194.51 on Thursday. First Solar, Inc. has a twelve month low of $165.86 and a twelve month high of $320.95. The stock has a fifty day simple moving average of $187.38 and a 200 day simple moving average of $215.40. The company has a market capitalization of $20.91 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 0.50 and a beta of 1.73.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, October 29th. The solar cell manufacturer reported $5.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.63. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.29 billion. First Solar had a net margin of 37.12% and a return on equity of 18.33%. The business’s revenue was down 22.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.24 EPS. Research analysts expect that First Solar, Inc. will post 17.66 earnings per share for the current fiscal year.

First Solar News Roundup

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

• Positive Sentiment: Investors anticipate that Democratic control of Congress could improve prospects for federal support of renewable energy and domestic solar manufacturing, lifting First Solar and other clean-energy shares. The extent and timing of any policy changes remain uncertain. Article: First Solar Jumps as Democratic Sweep Revives Clean-Energy Hopes
• Positive Sentiment: First Solar’s U.S. manufacturing footprint may also benefit from existing tariffs that support its competitive position against imported solar products. Article: First Solar Jumps After Democratic Sweep, but Tariffs Already Favor It
• Positive Sentiment: Options activity pointed to bullish positioning: traders bought 67,156 FSLR call options, 128% above the average volume reported in the article.
• Neutral Sentiment: The rally was part of a broader market rotation into clean-energy stocks after the election. The policy shift may change investor expectations, but it does not immediately alter company earnings, and the legislative path remains uncertain. Article: “Blue Trade” Sends First Solar and Sunrun Soaring
• Negative Sentiment: Barclays and Guggenheim each cut their price target on First Solar, providing a counterpoint to the election-driven optimism. The available reports do not specify the revised targets. Article: First Solar Price Target Cut by Barclays Article: First Solar Price Target Cut by Guggenheim

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.