Guinness Asset Management LTD Sells 2,896 Shares of First Solar, Inc. $FSLR

Guinness Asset Management LTD cut its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,492 shares of the solar cell manufacturer’s stock after selling 2,896 shares during the quarter. Guinness Asset Management LTD’s holdings in First Solar were worth $13,276,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Aventura Private Wealth LLC bought a new stake in First Solar in the 4th quarter worth about $25,000. Larson Financial Group LLC increased its holdings in First Solar by 117.0% in the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock worth $27,000 after buying an additional 55 shares in the last quarter. Elyxium Wealth LLC bought a new stake in First Solar in the 4th quarter worth about $30,000. Strategic Wealth Investment Group LLC bought a new stake in First Solar in the 2nd quarter worth about $26,000. Finally, Torren Management LLC bought a new stake in First Solar in the 4th quarter worth about $47,000. 92.08% of the stock is currently owned by institutional investors.

First Solar News Summary

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

• Positive Sentiment: First Solar announced a partnership with GameChange Solar to support wider use of its domestically manufactured thin-film modules in India, a move that could improve demand visibility and reduce supply-chain or compliance concerns. Why First Solar (FSLR) Stock Is Trading Up Today
• Positive Sentiment: Guggenheim raised its price target on First Solar to $279 from $269 and reiterated a Buy rating, signaling continued analyst confidence in the stock’s upside potential. MarketScreener

Insiders Place Their Bets

In other First Solar news, insider Kuntal Kumar Verma sold 582 shares of First Solar stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $250.00, for a total value of $145,500.00. Following the sale, the insider owned 4,967 shares of the company’s stock, valued at $1,241,750. The trade was a 10.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark R. Widmar sold 4,815 shares of First Solar stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $247.43, for a total value of $1,191,375.45. Following the completion of the sale, the chief executive officer directly owned 89,033 shares in the company, valued at approximately $22,029,435.19. The trade was a 5.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 97,827 shares of company stock worth $20,006,930. Insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Zacks Research upgraded First Solar from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. The Goldman Sachs Group lifted their price objective on First Solar from $300.00 to $310.00 in a report on Friday, May 1st. Freedom Capital upgraded First Solar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Citigroup reduced their price objective on First Solar from $300.00 to $243.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Finally, DZ Bank upgraded First Solar to a “strong sell” rating in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $247.40.

First Solar Stock Up 3.6%

FSLR stock opened at $257.85 on Friday. The business’s 50-day moving average price is $205.04 and its 200-day moving average price is $231.20. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. First Solar, Inc. has a twelve month low of $135.50 and a twelve month high of $285.99. The stock has a market cap of $27.71 billion, a P/E ratio of 16.66, a PEG ratio of 0.55 and a beta of 1.57.

First Solar (NASDAQ:FSLR) last posted 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. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm earned $1.95 EPS. The firm’s revenue was up 23.6% compared to the same quarter last year. On average, equities research analysts forecast that First Solar, Inc. will post 17.64 EPS for the current 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.