Banque Cantonale Vaudoise Sells 4,497 Shares of First Solar, Inc. $FSLR

Banque Cantonale Vaudoise trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 34.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,428 shares of the solar cell manufacturer’s stock after selling 4,497 shares during the period. Banque Cantonale Vaudoise’s holdings in First Solar were worth $1,664,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Apollon Wealth Management LLC lifted its stake in shares of First Solar by 1.2% in the 4th quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer’s stock valued at $942,000 after acquiring an additional 44 shares during the last quarter. Root Financial Partners LLC boosted its holdings in First Solar by 18.2% during the 4th quarter. Root Financial Partners LLC now owns 292 shares of the solar cell manufacturer’s stock valued at $76,000 after acquiring an additional 45 shares during the period. FIL Ltd grew its position in First Solar by 6.9% during the 4th quarter. FIL Ltd now owns 708 shares of the solar cell manufacturer’s stock worth $185,000 after acquiring an additional 46 shares during the last quarter. Fielder Capital Group LLC increased its stake in First Solar by 4.1% in the 4th quarter. Fielder Capital Group LLC now owns 1,196 shares of the solar cell manufacturer’s stock worth $312,000 after purchasing an additional 47 shares during the period. Finally, Burford Brothers Inc. increased its stake in First Solar by 0.3% in the 4th quarter. Burford Brothers Inc. now owns 19,080 shares of the solar cell manufacturer’s stock worth $4,984,000 after purchasing an additional 48 shares during the period. 92.08% of the stock is owned by institutional investors.

Key Headlines Impacting First Solar

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

• Negative Sentiment: Several firms, including Howard G. Smith, Bronstein Gewirtz & Grossman, Rosen Law, Pomerantz, Portnoy, and the Schall Law Firm, announced or promoted class-action cases tied to First Solar, increasing legal overhang and headline risk. Article Title
• Negative Sentiment: Multiple securities-fraud investigations were also launched or reiterated by plaintiff firms, suggesting investors are actively probing whether earlier company disclosures may have been misleading. Article Title
• Neutral Sentiment: One Zacks item called First Solar a strong growth stock, which is supportive on fundamentals, but it appears to be a generic rating piece rather than a new company-specific catalyst. Article Title

Insider Transactions at First Solar

In related news, insider Caroline Stockdale sold 10,628 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $275.60, for a total value of $2,929,076.80. Following the transaction, the insider owned 23,792 shares in the company, valued at $6,557,075.20. The trade was a 30.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Markus Gloeckler sold 420 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $90,564.60. Following the sale, the chief technology officer directly owned 10,896 shares in the company, valued at $2,349,504.48. This trade represents a 3.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 32,466 shares of company stock valued at $8,014,105. 0.39% of the stock is currently owned by corporate insiders.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $239.07 on Friday. The company has a 50 day simple moving average of $243.56 and a two-hundred day simple moving average of $233.11. First Solar, Inc. has a fifty-two week low of $149.54 and a fifty-two week high of $320.95. The company has a market capitalization of $25.69 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 0.55 and a beta of 1.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The business’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.95 EPS. Analysts expect that First Solar, Inc. will post 17.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FSLR. Weiss Ratings downgraded First Solar from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Guggenheim raised their target price on shares of First Solar from $269.00 to $279.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Jefferies Financial Group decreased their target price on shares of First Solar from $205.00 to $187.00 and set a “hold” rating on the stock in a research note on Tuesday, April 7th. Wall Street Zen lowered shares of First Solar from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, The Goldman Sachs Group increased their price target on shares of First Solar from $300.00 to $310.00 in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $249.78.

First Solar 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.