First Solar, Inc. $FSLR Shares Sold by KBC Group NV

by · The Markets Daily

KBC Group NV lowered its holdings in shares of First Solar, Inc. (NASDAQ:FSLR – Free Report) by 13.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,094 shares of the solar cell manufacturer’s stock after selling 7,615 shares during the period. KBC Group NV’s holdings in First Solar were worth $7,796,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in 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 last quarter. Wellington Management Group LLP boosted its holdings in shares of First Solar by 17.2% in the 1st quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer’s stock worth $349,617,000 after acquiring an additional 405,457 shares in the last quarter. Invesco Ltd. lifted its position 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 worth $306,909,000 after purchasing an additional 592,444 shares in the last quarter. Samlyn Capital LLC boosted its holdings in First Solar by 6.3% in 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 acquiring an additional 103,403 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of First Solar by 20.0% in the 1st 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 institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FSLR has been the subject of a number of research analyst reports. Seaport Global Securities upped their target price on shares of First Solar from $217.00 to $305.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. KeyCorp reaffirmed an “overweight” rating on shares of First Solar in a research note on Friday, October 31st. TD Cowen increased their price target on First Solar from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, October 31st. The Goldman Sachs Group reiterated a “buy” rating and issued a $316.00 target price on shares of First Solar in a report on Friday, October 31st. Finally, Evercore ISI lifted their price target on shares of First Solar from $240.90 to $241.00 in a research note on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $269.79.

Check Out Our Latest Report on First Solar

First Solar Stock Performance

Shares of First Solar stock opened at $253.08 on Friday. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $281.55. 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 capitalization of $27.16 billion, a P/E ratio of 21.65, a P/E/G ratio of 0.46 and a beta of 1.51. The business has a fifty day simple moving average of $232.81 and a two-hundred day simple moving average of $192.31.

First Solar (NASDAQ:FSLR – Get Free Report) last released its quarterly earnings data on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing the consensus estimate of $4.32 by ($0.08). The company had revenue of $1.59 billion for 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%. The firm’s revenue for the quarter was up 79.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.91 earnings per share. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. On average, equities analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Michael T. Sweeney sold 4,500 shares of First Solar stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $271.11, for a total value of $1,219,995.00. Following the sale, the director owned 13,662 shares of the company’s stock, valued at approximately $3,703,904.82. This trade represents a 24.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul H. Stebbins sold 7,000 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was 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 of the company’s stock, valued at $4,011,308.80. This trade represents a 31.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 48,912 shares of company stock worth $12,971,349. Corporate insiders own 0.48% of the company’s stock.

First Solar Company Profile

(Free Report)

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.

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