Sterling Capital Management LLC Sells 2,596 Shares of First Solar, Inc. $FSLR

Sterling Capital Management LLC decreased its position in First Solar, Inc. (NASDAQ:FSLR) by 43.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,422 shares of the solar cell manufacturer’s stock after selling 2,596 shares during the quarter. Sterling Capital Management LLC’s holdings in First Solar were worth $675,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Aventura Private Wealth LLC bought a new stake in First Solar during the 4th quarter worth about $25,000. Commonwealth Retirement Investments LLC bought a new stake in First Solar in the 4th quarter valued at $26,000. Reflection Asset Management acquired a new stake in shares of First Solar during the 4th quarter worth about $26,000. Strategic Wealth Investment Group LLC bought a new stake in shares of First Solar during the second quarter worth approximately $26,000. Finally, Larson Financial Group LLC boosted its stake in First Solar by 117.0% in the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock valued at $27,000 after purchasing an additional 55 shares during the period. Institutional investors own 92.08% of the company’s stock.

Key Headlines Impacting First Solar

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 Buying and Selling

In other First Solar news, General Counsel Jason E. Dymbort sold 409 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 value of $88,192.67. Following the sale, the general counsel owned 10,409 shares in the company, valued at approximately $2,244,492.67. The trade was a 3.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Markus Gloeckler sold 420 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 $90,564.60. Following the completion of the sale, the chief technology officer directly owned 10,896 shares of the company’s stock, valued at approximately $2,349,504.48. The trade was 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. Insiders have sold a total of 32,466 shares of company stock valued at $8,014,105 over the last quarter. 0.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Guggenheim boosted their price objective on shares of First Solar from $269.00 to $279.00 and gave the company a “buy” rating in a report on Thursday, May 21st. UBS Group lifted their price target on shares of First Solar from $290.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Mizuho increased their price target on First Solar from $243.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, June 12th. Weiss Ratings raised First Solar from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 25th. Finally, Susquehanna cut their target price on First Solar from $280.00 to $250.00 and set a “positive” rating for the company in a research report on Thursday, April 9th. One 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 given a Sell rating to the company’s stock. According to data from MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and an average price target of $249.78.

First Solar Stock Performance

Shares of First Solar stock opened at $232.08 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. First Solar, Inc. has a fifty-two week low of $159.85 and a fifty-two week high of $320.95. The firm has a market capitalization of $24.94 billion, a P/E ratio of 14.99, a P/E/G ratio of 0.52 and a beta of 1.74. The company’s 50 day moving average price is $246.09 and its two-hundred day moving average price is $232.33.

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