Metis Global Partners LLC Has $3.67 Million Stake in First Solar, Inc. $FSLR

Metis Global Partners LLC reduced its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 5.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 22,169 shares of the solar cell manufacturer’s stock after selling 1,262 shares during the quarter. Metis Global Partners LLC’s holdings in First Solar were worth $3,670,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FSLR. Vanguard Group Inc. grew its holdings in shares of First Solar by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer’s stock worth $1,668,919,000 after purchasing an additional 378,641 shares during the last quarter. Wellington Management Group LLP boosted its position in First Solar by 17.2% in the first quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer’s stock valued at $349,617,000 after buying an additional 405,457 shares in the last quarter. Invesco Ltd. grew its stake in First Solar by 32.3% during the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer’s stock worth $306,909,000 after buying an additional 592,444 shares during the last quarter. Samlyn Capital LLC increased its holdings in shares of First Solar by 6.3% during the first quarter. Samlyn Capital LLC now owns 1,741,794 shares of the solar cell manufacturer’s stock worth $220,215,000 after buying an additional 103,403 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of First Solar by 20.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,741,026 shares of the solar cell manufacturer’s stock valued at $220,118,000 after acquiring an additional 290,112 shares during the last quarter. 92.08% of the stock is owned by institutional investors.

Insider Activity at First Solar

In other First Solar news, CAO Nathan B. Theurer sold 686 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total value of $124,872.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Georges Antoun sold 37,412 shares of First Solar stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $265.01, for a total transaction of $9,914,554.12. Following the sale, the insider directly owned 15,424 shares of the company’s stock, valued at $4,087,514.24. This represents a 70.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 68,127 shares of company stock worth $15,647,859 over the last ninety days. Company insiders own 0.48% of the company’s stock.

First Solar Price Performance

First Solar stock opened at $267.64 on Friday. The business’s 50-day simple moving average is $226.52 and its 200 day simple moving average is $188.31. The stock has a market cap of $28.72 billion, a price-to-earnings ratio of 22.89, a P/E/G ratio of 0.46 and a beta of 1.51. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $281.55. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing the consensus estimate of $4.32 by ($0.08). First Solar had a return on equity of 15.57% and a net margin of 28.95%.The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the firm posted $2.91 earnings per share. The business’s revenue for the quarter was up 79.7% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. As a group, research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Bank of America increased their price target on First Solar from $209.00 to $254.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Citigroup increased their target price on First Solar from $198.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. DZ Bank cut First Solar from a “strong-buy” rating to a “hold” rating in a report on Friday, October 31st. Evercore ISI upped their price target on shares of First Solar from $240.90 to $241.00 in a research report on Friday, October 31st. Finally, Robert W. Baird raised their price objective on shares of First Solar from $240.00 to $264.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $270.17.

First Solar Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.