First Solar, Inc. $FSLR Shares Purchased by Assetmark Inc.

Assetmark Inc. raised its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 3,457.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,238 shares of the solar cell manufacturer’s stock after acquiring an additional 20,641 shares during the quarter. Assetmark Inc.’s holdings in First Solar were worth $4,189,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in First Solar during the fourth quarter valued at approximately $392,040,000. Viking Global Investors LP lifted its holdings in First Solar by 60.6% during the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after buying an additional 854,919 shares during the last quarter. Polar Capital Holdings Plc acquired a new position in shares of First Solar in the 4th quarter worth approximately $200,109,000. Lightrock Netherlands B.V. grew its position in shares of First Solar by 2,663.8% in the 4th quarter. Lightrock Netherlands B.V. now owns 666,307 shares of the solar cell manufacturer’s stock worth $174,059,000 after acquiring an additional 642,199 shares in the last quarter. Finally, Amundi increased its holdings in shares of First Solar by 38.6% in the 3rd quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer’s stock valued at $459,917,000 after acquiring an additional 564,032 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about First Solar

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 equities analysts recently issued reports on the company. Zacks Research upgraded First Solar from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft raised shares of First Solar from a “hold” rating to a “buy” rating and increased their target price for the stock from $245.00 to $272.00 in a report on Monday, July 6th. Guggenheim raised their price target on shares of First Solar from $269.00 to $279.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Wells Fargo & Company lifted their price target on shares of First Solar from $255.00 to $320.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Finally, Weiss Ratings raised shares of First Solar from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $257.10.

Insiders Place Their Bets

In other First Solar news, insider Kuntal Kumar Verma sold 582 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $250.00, for a total value of $145,500.00. Following the transaction, the insider owned 4,967 shares of the company’s stock, valued at approximately $1,241,750. This represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Markus Gloeckler sold 420 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $90,564.60. Following the sale, the chief technology officer owned 10,896 shares of the company’s stock, valued at $2,349,504.48. This trade represents a 3.71% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 worth $7,893,775. Company insiders own 0.39% of the company’s stock.

First Solar Stock Up 1.4%

Shares of FSLR stock opened at $208.86 on Thursday. The business’s fifty day moving average is $249.71 and its 200-day moving average is $227.57. The stock has a market cap 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, Inc. has a 1 year low of $171.99 and a 1 year high of $320.95. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56.

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