3,836 First Solar, Inc. $FSLR Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. decreased its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 22.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,266 shares of the solar cell manufacturer’s stock after selling 3,836 shares during the period. TD Waterhouse Canada Inc.’s holdings in First Solar were worth $2,287,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pictet Asset Management Holding SA lifted its holdings in First Solar by 29.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,138,473 shares of the solar cell manufacturer’s stock worth $224,540,000 after purchasing an additional 258,204 shares during the last quarter. Rakuten Investment Management Inc. bought a new stake in First Solar in the 2nd quarter valued at $4,019,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in First Solar by 7.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,535,836 shares of the solar cell manufacturer’s stock valued at $362,396,000 after purchasing an additional 100,694 shares during the period. Jupiter Topco LLC acquired a new position in First Solar in the 2nd quarter valued at $6,121,000. Finally, Handelsbanken Fonder AB grew its holdings in First Solar by 15.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 683,112 shares of the solar cell manufacturer’s stock valued at $161,187,000 after buying an additional 89,214 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

More First Solar News

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: First Solar’s contracted sales of American-made modules could benefit from U.S. trade policies and customer demand for domestic content. This is a key reason investors may be assigning value to the company despite the broader solar-stock slump. Why You Need To Pay Attention To First Solar Stock
• Positive Sentiment: JPMorgan maintained an “overweight” rating and lowered its price target modestly to $252 from $256, still implying substantial upside from recent levels. The call provides some support for the stock after its prolonged decline. JPMorgan First Solar Price Target Update
• Positive Sentiment: First Solar has generated higher earnings over its latest four reported quarters than in the prior four-quarter period. Its latest reported quarter also exceeded analyst EPS expectations, supporting the view that profitability remains a relative strength.
• Neutral Sentiment: The company has a sizable contracted backlog, but backlog value does not automatically translate into near-term cash flow. Investors are focused on shipment timing, pricing of new orders and how effectively First Solar converts demand into revenue and cash. First Solar Has a Huge Backlog. Will New Orders Deliver the Cash?
• Negative Sentiment: Solar stocks recently faced broad selling pressure, with First Solar declining alongside other industry names. Concerns include weaker near-term sales, uncertain future order pricing and the possibility that policy protection may take time to affect results. Solar Stocks Sell Off as Sunrun Falls Toward a 52-Week Low

Insider Buying and Selling

In other news, insider Michael Koralewski sold 7,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $221.51, for a total transaction of $1,550,570.00. Following the sale, the insider directly owned 7,642 shares of the company’s stock, valued at approximately $1,692,779.42. This represents a 47.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jason Dymbort sold 3,700 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $249.38, for a total value of $922,706.00. Following the completion of the transaction, the general counsel owned 5,624 shares in the company, valued at $1,402,513.12. The trade was a 39.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 16,681 shares of company stock valued at $3,756,286. 0.39% of the stock is owned by insiders.

First Solar Trading Up 1.5%

Shares of FSLR stock opened at $174.43 on Wednesday. The stock has a market cap of $18.74 billion, a P/E ratio of 10.75, a price-to-earnings-growth ratio of 0.47 and a beta of 1.80. The stock has a 50 day simple moving average of $196.02 and a 200 day simple moving average of $218.85. First Solar, Inc. has a 1 year low of $168.60 and a 1 year high of $320.95.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $1.02. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. First Solar had a return on equity of 18.02% and a net margin of 32.47%. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.18 earnings per share. Analysts forecast that First Solar, Inc. will post 17.63 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Piper Sandler lowered their price objective on First Solar from $260.00 to $251.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 30th. The Goldman Sachs Group reduced their target price on shares of First Solar from $310.00 to $272.00 and set a “buy” rating for the company in a research report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft cut shares of First Solar from a “buy” rating to a “hold” rating in a research report on Thursday, August 27th. Weiss Ratings upgraded shares of First Solar from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Finally, Robert W. Baird decreased their price target on shares of First Solar from $318.00 to $290.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $265.73.

First Solar Profile

First Solar, Inc is a vertically integrated solar technology and manufacturing company that designs, manufactures and sells photovoltaic (PV) solar modules. Its modules use advanced thin-film semiconductor technology based on cadmium telluride (CdTe), rather than the crystalline-silicon technology used by most solar manufacturers. The company serves utility-scale solar developers, commercial and industrial customers, and other large-scale energy users.

Founded in 1999 and headquartered in Tempe, Arizona, First Solar operates research and development, manufacturing and recycling facilities in the United States and internationally.