Pictet Asset Management Holding SA Grows Stock Holdings in First Solar, Inc. $FSLR

Pictet Asset Management Holding SA increased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 29.3% in the first quarter, HoldingsChannel.com reports. The firm owned 1,138,473 shares of the solar cell manufacturer’s stock after acquiring an additional 258,204 shares during the quarter. Pictet Asset Management Holding SA’s holdings in First Solar were worth $224,540,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Aventura Private Wealth LLC acquired a new stake in First Solar in the fourth quarter valued at $25,000. Commonwealth Retirement Investments LLC acquired a new position in shares of First Solar during the 4th quarter worth about $26,000. Reflection Asset Management acquired a new position in shares of First Solar during the 4th quarter worth about $26,000. Strategic Wealth Investment Group LLC acquired a new stake in shares of First Solar during the 2nd quarter worth about $26,000. Finally, Larson Financial Group LLC raised its position in shares of First Solar by 117.0% during the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Down 3.8%

Shares of NASDAQ FSLR opened at $239.07 on Friday. The stock has a market cap of $25.69 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 0.53 and a beta of 1.71. 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 52-week low of $149.54 and a 52-week high of $320.95. The business has a 50-day moving average price of $243.56 and a 200 day moving average price of $233.11.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (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 the consensus estimate of $1.03 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The firm’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.95 EPS. Equities research analysts forecast that First Solar, Inc. will post 17.61 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel Jason E. Dymbort sold 409 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $88,192.67. Following the completion of the sale, the general counsel owned 10,409 shares in the company, valued at $2,244,492.67. This represents a 3.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Markus Gloeckler sold 420 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $90,564.60. Following the completion of the sale, the chief technology officer owned 10,896 shares of the company’s stock, valued at approximately $2,349,504.48. This trade represents a 3.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 32,466 shares of company stock valued at $8,014,105. 0.39% of the stock is owned by insiders.

Key Stories 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

Wall Street Analysts Forecast Growth

FSLR has been the subject of a number of research analyst reports. Glj Research downgraded First Solar from a “buy” rating to a “hold” rating and lowered their price target for the company from $314.43 to $207.82 in a report on Wednesday, March 4th. Zacks Research raised shares of First Solar from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Evercore raised their price objective on shares of First Solar from $212.00 to $219.00 in a report on Monday, May 4th. Weiss Ratings upgraded shares of First Solar from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. Finally, Jefferies Financial Group lowered their target price 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. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $249.78.

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.