Mirae Asset Global Investments Co. Ltd. Purchases New Shares in First Solar, Inc. $FSLR

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 67,789 shares of the solar cell manufacturer’s stock, valued at approximately $11,874,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. SFE Investment Counsel increased its holdings in First Solar by 10.1% during the 3rd quarter. SFE Investment Counsel now owns 69,125 shares of the solar cell manufacturer’s stock worth $12,108,000 after purchasing an additional 6,335 shares during the last quarter. Vise Technologies Inc. grew its holdings in First Solar by 38.8% in the 3rd quarter. Vise Technologies Inc. now owns 1,767 shares of the solar cell manufacturer’s stock worth $309,000 after buying an additional 494 shares in the last quarter. Summit Global Investments boosted its holdings in shares of First Solar by 6.3% in the third quarter. Summit Global Investments now owns 3,597 shares of the solar cell manufacturer’s stock valued at $630,000 after acquiring an additional 213 shares in the last quarter. MGO One Seven LLC grew its holdings in First Solar by 24.1% during the third quarter. MGO One Seven LLC now owns 1,471 shares of the solar cell manufacturer’s stock worth $258,000 after acquiring an additional 286 shares during the period. Finally, Brooklands Fund Management Ltd raised its holdings in First Solar by 89.1% during the 3rd quarter. Brooklands Fund Management Ltd now owns 42,228 shares of the solar cell manufacturer’s stock worth $7,397,000 after buying an additional 19,900 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on FSLR. Glj Research cut First Solar from a “buy” rating to a “hold” rating and set a $161.00 target price for the company. in a research report on Friday, October 30th. William Blair set a $248.00 target price on First Solar in a research note on Friday, October 30th. Royal Bank Of Canada cut their price objective on First Solar from $236.00 to $232.00 and set an “outperform” rating on the stock in a report on Friday, October 30th. Piper Sandler cut their price objective on shares of First Solar from $260.00 to $251.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 30th. Finally, HC Wainwright started coverage on shares of First Solar in a research note on Thursday, August 27th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.38.

First Solar News Summary

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

• Positive Sentiment: Investors anticipate that Democratic control of Congress could improve prospects for federal support of renewable energy and domestic solar manufacturing, lifting First Solar and other clean-energy shares. The extent and timing of any policy changes remain uncertain. Article: First Solar Jumps as Democratic Sweep Revives Clean-Energy Hopes
• Positive Sentiment: First Solar’s U.S. manufacturing footprint may also benefit from existing tariffs that support its competitive position against imported solar products. Article: First Solar Jumps After Democratic Sweep, but Tariffs Already Favor It
• Positive Sentiment: Options activity pointed to bullish positioning: traders bought 67,156 FSLR call options, 128% above the average volume reported in the article.
• Neutral Sentiment: The rally was part of a broader market rotation into clean-energy stocks after the election. The policy shift may change investor expectations, but it does not immediately alter company earnings, and the legislative path remains uncertain. Article: “Blue Trade” Sends First Solar and Sunrun Soaring
• Negative Sentiment: Barclays and Guggenheim each cut their price target on First Solar, providing a counterpoint to the election-driven optimism. The available reports do not specify the revised targets. Article: First Solar Price Target Cut by Barclays Article: First Solar Price Target Cut by Guggenheim

Insider Buying and Selling at First Solar

In other news, EVP Samantha L. Sloan sold 127 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $222.95, for a total transaction of $28,314.65. Following the completion of the transaction, the executive vice president directly owned 2,018 shares in the company, valued at $449,913.10. This trade represents a 5.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Jason E. Dymbort sold 3,700 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $249.38, for a total transaction 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. This represents a 39.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 5,427 shares of company stock valued at $1,250,221. 0.39% of the stock is owned by company insiders.

First Solar Price Performance

NASDAQ:FSLR opened at $194.51 on Thursday. First Solar, Inc. has a one year low of $165.86 and a one year high of $320.95. The firm has a market capitalization of $20.91 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 0.50 and a beta of 1.73. The business has a fifty day moving average price of $187.38 and a 200-day moving average price of $215.40.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, October 29th. The solar cell manufacturer reported $5.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.63. First Solar had a return on equity of 18.33% and a net margin of 37.12%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the company earned $4.24 EPS. The company’s revenue for the quarter was down 22.8% on a year-over-year basis. On average, equities research analysts expect that First Solar, Inc. will post 17.66 earnings per share for the current fiscal year.

About First Solar

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.