Kestra Private Wealth Services LLC Purchases 2,588 Shares of First Solar, Inc. $FSLR

Kestra Private Wealth Services LLC raised its position in First Solar, Inc. (NASDAQ:FSLR) by 140.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 4,428 shares of the solar cell manufacturer’s stock after acquiring an additional 2,588 shares during the period. Kestra Private Wealth Services LLC’s holdings in First Solar were worth $873,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cardinal Point Capital Management ULC grew its position in First Solar by 16.6% in the 1st quarter. Cardinal Point Capital Management ULC now owns 1,405 shares of the solar cell manufacturer’s stock valued at $277,000 after purchasing an additional 200 shares during the period. Global Financial Private Client LLC lifted its stake in shares of First Solar by 40.7% in the first quarter. Global Financial Private Client LLC now owns 2,115 shares of the solar cell manufacturer’s stock valued at $417,000 after buying an additional 612 shares in the last quarter. Davis Investment Partners LLC bought a new position in shares of First Solar in the first quarter valued at $490,000. OP Asset Management Ltd acquired a new position in shares of First Solar during the first quarter valued at about $3,088,000. Finally, Hanson & Doremus Investment Management grew its holdings in shares of First Solar by 6.1% during the first quarter. Hanson & Doremus Investment Management now owns 10,482 shares of the solar cell manufacturer’s stock valued at $2,068,000 after buying an additional 607 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar News Roundup

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

• Positive Sentiment: First Solar continues to be highlighted for its long-term growth potential, including U.S. manufacturing expansion, a strong backlog, and leadership in thin-film CdTe solar technology. Can First Solar’s Manufacturing Expansion Drive Long-Term Growth?
• Positive Sentiment: The company is also drawing attention for strengthening its module recycling efforts, reinforcing its sustainability strategy and lifecycle leadership in solar. How Is First Solar Strengthening Its Module Recycling Leadership?
• Neutral Sentiment: Several articles note that First Solar is a trending stock, reflecting elevated investor interest rather than a clear new fundamental catalyst. First Solar, Inc. (FSLR) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: The biggest drag on sentiment is a cluster of class-action lawsuit notices and lead-plaintiff deadline reminders from multiple law firms, which can raise concerns about alleged investor harm and legal overhang. Deadline Approaching: First Solar, Inc. (FSLR) Shareholders Who Lost Money Urged to Contact Law Offices of Howard G. Smith
• Negative Sentiment: Additional lawsuits and investor alerts from firms including Bronstein, Gewirtz & Grossman, Levi & Korsinsky, Faruqi & Faruqi, Rosen, Pomerantz, the Schall Law Firm, and others add to the legal noise around the stock. Bronstein, Gewirtz & Grossman LLC Urges First Solar, Inc. Investors to Act: Class Action Filed Alleging Investor Harm

Insider Activity at First Solar

In related news, General Counsel Jason E. Dymbort sold 409 shares of First Solar stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $88,192.67. Following the sale, the general counsel owned 10,409 shares of the company’s stock, valued at approximately $2,244,492.67. The trade was a 3.78% decrease in their position. The transaction was disclosed in a document filed 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, CEO Mark R. Widmar sold 4,815 shares of the stock in a transaction 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 transaction, the chief executive officer directly owned 89,033 shares of the company’s stock, valued at approximately $22,029,435.19. This trade represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,466 shares of company stock worth $8,014,105 over the last 90 days. Corporate insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of First Solar from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 25th. Freedom Capital upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Sanford C. Bernstein reissued an “underperform” rating on shares of First Solar in a research note on Friday, June 26th. UBS Group increased their price objective on First Solar from $290.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Finally, Guggenheim raised their target price on First Solar from $269.00 to $279.00 and gave the company a “buy” rating in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and an average price target of $249.78.

First Solar Stock Down 1.6%

Shares of NASDAQ:FSLR opened at $232.08 on Thursday. First Solar, Inc. has a 1 year low of $159.85 and a 1 year high of $320.95. The company has a market capitalization of $24.94 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 0.52 and a beta of 1.74. The business has a fifty day moving average price of $246.09 and a two-hundred day moving average price of $232.33. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The business’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.95 EPS. Analysts forecast that First Solar, Inc. will post 17.61 earnings per share for the current year.

First Solar 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.