Raiffeisen Bank International AG Cuts Stock Position in First Solar, Inc. $FSLR

Raiffeisen Bank International AG lessened its holdings in First Solar, Inc. (NASDAQ:FSLR) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 177,630 shares of the solar cell manufacturer’s stock after selling 3,320 shares during the period. Raiffeisen Bank International AG’s holdings in First Solar were worth $27,153,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. TD Private Client Wealth LLC lifted its holdings in shares of First Solar by 126.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock valued at $25,000 after acquiring an additional 85 shares during the last quarter. Harbor Investment Advisory LLC raised its holdings in First Solar by 138.9% during the 2nd quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock valued at $28,000 after buying an additional 100 shares during the period. Hantz Financial Services Inc. boosted its stake in First Solar by 69.4% during the second quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock worth $30,000 after buying an additional 75 shares during the period. Wealth Preservation Advisors LLC bought a new position in First Solar during the first quarter valued at $25,000. Finally, First Pacific Financial purchased a new stake in shares of First Solar in the second quarter valued at $41,000. Institutional investors own 92.08% of the company’s stock.

Insider Activity at First Solar

In other First Solar news, Director Paul H. Stebbins sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $262.40, for a total value of $1,836,800.00. Following the completion of the sale, the director directly owned 15,287 shares in the company, valued at $4,011,308.80. This trade represents a 31.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Georges Antoun sold 37,412 shares of First Solar stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $265.01, for a total transaction of $9,914,554.12. Following the completion of the transaction, the insider directly owned 15,424 shares in the company, valued at $4,087,514.24. This represents a 70.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 48,912 shares of company stock valued at $12,971,349 over the last 90 days. Insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

FSLR has been the topic of several analyst reports. Wolfe Research upped their price target on shares of First Solar from $232.00 to $247.00 in a report on Friday, October 31st. Rothschild & Co Redburn upped their price objective on First Solar from $150.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of First Solar from $225.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Evercore ISI raised their price target on shares of First Solar from $240.90 to $241.00 in a research note on Friday, October 31st. Finally, KeyCorp restated an “overweight” rating on shares of First Solar in a research note on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and six have assigned a Hold 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 $269.79.

First Solar Trading Down 1.4%

FSLR opened at $253.08 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. The firm has a market cap of $27.16 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 0.46 and a beta of 1.51. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $281.55. The stock has a fifty day moving average price of $232.81 and a 200-day moving average price of $193.17.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.32 by ($0.08). The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.56 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. First Solar’s revenue for the quarter was up 79.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.91 EPS. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. As a group, equities research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

First Solar Company Profile

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.