First Solar, Inc. $FSLR Stake Cut by Viking Fund Management LLC

Viking Fund Management LLC trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 13.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,000 shares of the solar cell manufacturer’s stock after selling 3,000 shares during the period. Viking Fund Management LLC’s holdings in First Solar were worth $4,411,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Harvest Portfolios Group Inc. boosted its holdings in shares of First Solar by 3.9% in the 1st quarter. Harvest Portfolios Group Inc. now owns 1,658 shares of the solar cell manufacturer’s stock valued at $210,000 after buying an additional 63 shares during the period. Legend Financial Advisors Inc. lifted its holdings in First Solar by 1.4% in the first quarter. Legend Financial Advisors Inc. now owns 4,726 shares of the solar cell manufacturer’s stock worth $598,000 after acquiring an additional 64 shares during the last quarter. Harrington Investments INC lifted its holdings in First Solar by 0.5% in the second quarter. Harrington Investments INC now owns 13,278 shares of the solar cell manufacturer’s stock worth $2,198,000 after acquiring an additional 65 shares during the last quarter. Penserra Capital Management LLC boosted its stake in First Solar by 13.4% in the second quarter. Penserra Capital Management LLC now owns 560 shares of the solar cell manufacturer’s stock valued at $92,000 after acquiring an additional 66 shares during the period. Finally, Energy Income Partners LLC grew its holdings in shares of First Solar by 0.8% during the first quarter. Energy Income Partners LLC now owns 9,257 shares of the solar cell manufacturer’s stock valued at $1,170,000 after purchasing an additional 72 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FSLR shares. Wolfe Research raised their price target on First Solar from $232.00 to $247.00 in a report on Friday, October 31st. Roth Capital set a $300.00 target price on First Solar in a research report on Friday, October 31st. KeyCorp reissued an “overweight” rating on shares of First Solar in a report on Friday, October 31st. BMO Capital Markets upped their price target on shares of First Solar from $273.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. Finally, UBS Group lifted their price objective on shares of First Solar from $275.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $271.27.

First Solar Trading Up 2.0%

Shares of NASDAQ:FSLR opened at $266.98 on Friday. The company has a 50 day moving average of $253.75 and a 200-day moving average of $211.11. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. The firm has a market cap of $28.65 billion, a P/E ratio of 20.51, a P/E/G ratio of 0.52 and a beta of 1.59. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $281.55.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 EPS for the quarter, missing the consensus estimate of $4.32 by ($0.08). The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.56 billion. First Solar had a return on equity of 16.61% and a net margin of 27.73%.First Solar’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 EPS. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. As a group, analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In related news, Director Michael T. Sweeney sold 4,500 shares of First Solar stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $271.11, for a total transaction of $1,219,995.00. Following the transaction, the director directly owned 13,662 shares of the company’s stock, valued at $3,703,904.82. The trade was a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul H. Stebbins sold 7,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $262.40, for a total transaction of $1,836,800.00. Following the completion of the sale, the director owned 15,287 shares in the company, valued at approximately $4,011,308.80. This trade represents a 31.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 48,912 shares of company stock valued at $12,971,349. Corporate insiders own 0.48% 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.