Patriot Financial Group Insurance Agency LLC Takes Position in First Solar, Inc. $FSLR

Patriot Financial Group Insurance Agency LLC acquired a new stake in First Solar, Inc. (NASDAQ:FSLR) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,588 shares of the solar cell manufacturer’s stock, valued at approximately $511,000.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in First Solar during the fourth quarter worth about $392,040,000. Viking Global Investors LP increased its holdings in shares of First Solar by 60.6% in the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after acquiring an additional 854,919 shares in the last quarter. Polar Capital Holdings Plc bought a new stake in shares of First Solar in the fourth quarter worth about $200,109,000. Lightrock Netherlands B.V. raised its position in shares of First Solar by 2,663.8% during the fourth quarter. Lightrock Netherlands B.V. now owns 666,307 shares of the solar cell manufacturer’s stock worth $174,059,000 after purchasing an additional 642,199 shares during the period. Finally, Amundi lifted its holdings in shares of First Solar by 38.6% during the 3rd quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer’s stock valued at $459,917,000 after purchasing an additional 564,032 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Key First Solar News

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

• Positive Sentiment: First Solar continues to be highlighted for its long-term growth potential, including U.S. manufacturing expansion, a strong backlog, and leadership in thin-film CdTe solar technology. Can First Solar’s Manufacturing Expansion Drive Long-Term Growth?
• Positive Sentiment: The company is also drawing attention for strengthening its module recycling efforts, reinforcing its sustainability strategy and lifecycle leadership in solar. How Is First Solar Strengthening Its Module Recycling Leadership?
• Neutral Sentiment: Several articles note that First Solar is a trending stock, reflecting elevated investor interest rather than a clear new fundamental catalyst. First Solar, Inc. (FSLR) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: The biggest drag on sentiment is a cluster of class-action lawsuit notices and lead-plaintiff deadline reminders from multiple law firms, which can raise concerns about alleged investor harm and legal overhang. Deadline Approaching: First Solar, Inc. (FSLR) Shareholders Who Lost Money Urged to Contact Law Offices of Howard G. Smith
• Negative Sentiment: Additional lawsuits and investor alerts from firms including Bronstein, Gewirtz & Grossman, Levi & Korsinsky, Faruqi & Faruqi, Rosen, Pomerantz, the Schall Law Firm, and others add to the legal noise around the stock. Bronstein, Gewirtz & Grossman LLC Urges First Solar, Inc. Investors to Act: Class Action Filed Alleging Investor Harm

Insider Activity

In other news, insider Caroline Stockdale sold 10,628 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $275.60, for a total transaction of $2,929,076.80. Following the sale, the insider owned 23,792 shares in the company, valued at $6,557,075.20. This represents a 30.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alexander R. Bradley sold 498 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $107,383.74. Following the completion of the sale, the chief financial officer directly owned 30,712 shares of the company’s stock, valued at approximately $6,622,428.56. The trade was a 1.60% decrease in their position. 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. Over the last three months, insiders have sold 32,466 shares of company stock worth $8,014,105. Corporate insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on FSLR shares. Freedom Capital upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Weiss Ratings raised shares of First Solar from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. Glj Research lowered shares of First Solar from a “buy” rating to a “hold” rating and cut their price target for the company from $314.43 to $207.82 in a research note on Wednesday, March 4th. Jefferies Financial Group reduced their price target on shares of First Solar from $205.00 to $187.00 and set a “hold” rating for the company in a report on Tuesday, April 7th. Finally, Susquehanna lowered their price objective on shares of First Solar from $280.00 to $250.00 and set a “positive” rating for the company in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.78.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $232.08 on Thursday. The stock has a market capitalization of $24.94 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 0.52 and a beta of 1.74. The business has a 50-day moving average of $246.09 and a 200-day moving average of $232.33. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15. First Solar, Inc. has a fifty-two week low of $159.85 and a fifty-two week high of $320.95.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company posted $1.95 earnings per share. First Solar’s revenue was up 23.6% on a year-over-year basis. As a group, sell-side analysts predict that First Solar, Inc. will post 17.61 earnings per share for the current fiscal year.

About First Solar

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.