Dimensional Fund Advisors LP Buys 56,300 Shares of First Solar, Inc. $FSLR

Dimensional Fund Advisors LP raised its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 4.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,305,471 shares of the solar cell manufacturer’s stock after purchasing an additional 56,300 shares during the quarter. Dimensional Fund Advisors LP’s holdings in First Solar were worth $257,441,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of First Solar in the 4th quarter valued at approximately $392,040,000. Viking Global Investors LP grew its holdings in First Solar by 60.6% during 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 purchasing an additional 854,919 shares during the period. Polar Capital Holdings Plc bought a new stake in First Solar in the fourth quarter valued at approximately $200,109,000. Lightrock Netherlands B.V. increased its stake in First Solar by 2,663.8% in the fourth quarter. Lightrock Netherlands B.V. now owns 666,307 shares of the solar cell manufacturer’s stock valued at $174,059,000 after purchasing an additional 642,199 shares in the last quarter. Finally, Amundi increased its stake in First Solar by 38.6% in the third quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer’s stock valued at $459,917,000 after purchasing an additional 564,032 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

First Solar Trading Up 1.4%

NASDAQ FSLR opened at $208.86 on Thursday. The stock has a market capitalization of $22.44 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 0.46 and a beta of 1.73. The stock’s 50 day moving average price is $249.71 and its two-hundred day moving average price is $227.57. 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, Inc. has a 52 week low of $171.99 and a 52 week high of $320.95.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data 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 business 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%. The firm’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.95 earnings per share. As a group, analysts anticipate that First Solar, Inc. will post 17.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FSLR. Argus lifted their price target on shares of First Solar from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Citigroup restated a “buy” rating on shares of First Solar in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded First Solar from a “hold” rating to a “buy” rating and lifted their target price for the stock from $245.00 to $272.00 in a report on Monday, July 6th. Weiss Ratings raised First Solar from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. Finally, Evercore increased their price target on First Solar from $212.00 to $219.00 in a report on Monday, May 4th. One equities 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $257.10.

First Solar News Roundup

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

Insider Activity at First Solar

In other First Solar news, CFO Alexander R. Bradley sold 498 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total value of $107,383.74. Following the completion of the transaction, the chief financial officer directly owned 30,712 shares in the company, valued at $6,622,428.56. This trade represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Georges Antoun sold 566 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $122,046.58. Following the completion of the transaction, the insider directly owned 19,918 shares of the company’s stock, valued at $4,294,918.34. This represents a 2.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 31,893 shares of company stock worth $7,893,775. Corporate insiders own 0.39% of the company’s stock.

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.