Lightrock Netherlands B.V. Reduces Holdings in First Solar, Inc. $FSLR

Lightrock Netherlands B.V. trimmed its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 54.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 48,638 shares of the solar cell manufacturer’s stock after selling 57,223 shares during the quarter. First Solar accounts for 1.9% of Lightrock Netherlands B.V.’s investment portfolio, making the stock its 27th largest holding. Lightrock Netherlands B.V.’s holdings in First Solar were worth $8,052,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of First Solar by 3.0% during the first quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer’s stock valued at $1,668,919,000 after purchasing an additional 378,641 shares during the period. Wellington Management Group LLP boosted its stake in shares of First Solar by 17.2% during the first quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer’s stock valued at $349,617,000 after purchasing an additional 405,457 shares during the period. Invesco Ltd. boosted its stake in shares of First Solar by 32.3% during the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer’s stock valued at $306,909,000 after purchasing an additional 592,444 shares during the period. Samlyn Capital LLC boosted its stake in shares of First Solar by 6.3% during the first quarter. Samlyn Capital LLC now owns 1,741,794 shares of the solar cell manufacturer’s stock valued at $220,215,000 after purchasing an additional 103,403 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of First Solar by 20.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,741,026 shares of the solar cell manufacturer’s stock valued at $220,118,000 after purchasing an additional 290,112 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at First Solar

In other First Solar news, CEO Mark R. Widmar sold 23,912 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total value of $4,434,958.64. Following the completion of the sale, the chief executive officer owned 87,978 shares of the company’s stock, valued at approximately $16,317,279.66. This trade represents a 21.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Nathan B. Theurer sold 686 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The disclosure for this sale is available in the SEC filing. Insiders sold 30,715 shares of company stock valued at $5,733,305 over the last quarter. 0.48% of the stock is currently owned by corporate insiders.

First Solar Stock Performance

Shares of First Solar stock opened at $239.60 on Wednesday. The company has a market capitalization of $25.70 billion, a PE ratio of 20.50, a P/E/G ratio of 0.47 and a beta of 1.38. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The company has a 50-day simple moving average of $216.38 and a two-hundred day simple moving average of $180.86. First Solar, Inc. has a one year low of $116.56 and a one year high of $249.56.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.50. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Research analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FSLR has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of First Solar in a research note on Wednesday, October 8th. Mizuho boosted their target price on shares of First Solar from $275.00 to $278.00 and gave the company an “outperform” rating in a research note on Monday, July 14th. Wall Street Zen upgraded shares of First Solar from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Evercore ISI started coverage on shares of First Solar in a report on Monday, October 6th. They set an “in-line” rating and a $240.00 target price on the stock. Finally, TD Cowen upped their price target on shares of First Solar from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $244.81.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.