Northwestern Mutual Wealth Management Co. Invests $1.01 Million in First Solar, Inc. $FSLR

Northwestern Mutual Wealth Management Co. purchased a new position in First Solar, Inc. (NASDAQ:FSLR) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 4,287 shares of the solar cell manufacturer’s stock, valued at approximately $1,012,000.

A number of other large investors also recently bought and sold shares of FSLR. Evolve Private Wealth LLC bought a new stake in First Solar during the second quarter worth about $524,000. W1M Asset Management Ltd bought a new position in shares of First Solar during the second quarter valued at approximately $288,000. Emerald Investment Advisers LLC bought a new position in shares of First Solar during the second quarter valued at approximately $232,000. Korea Investment CORP purchased a new position in shares of First Solar during the second quarter valued at approximately $15,822,000. Finally, Rakuten Securities Inc. purchased a new position in shares of First Solar during the second quarter valued at approximately $44,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Stock Down 0.7%

NASDAQ:FSLR opened at $206.82 on Wednesday. The company’s 50 day moving average price is $226.41 and its 200-day moving average price is $223.78. First Solar, Inc. has a 52 week low of $182.99 and a 52 week high of $320.95. The stock has a market cap of $22.22 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 0.45 and a beta of 1.75.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share for the quarter, beating the consensus estimate of $2.90 by $1.02. First Solar had a net margin of 32.47% and a return on equity of 18.02%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the firm earned $3.18 earnings per share. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that First Solar, Inc. will post 17.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FSLR shares. Sanford C. Bernstein dropped their price target on First Solar from $217.00 to $197.00 and set an “underperform” rating on the stock in a research report on Friday, July 31st. Morgan Stanley lifted their price objective on First Solar from $245.00 to $323.00 and gave the company an “overweight” rating in a research note on Tuesday, August 18th. The Goldman Sachs Group boosted their target price on First Solar from $300.00 to $310.00 in a report on Friday, May 1st. Barclays increased their target price on First Solar from $213.00 to $279.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Finally, Evercore restated a “positive” rating and set a $218.00 price target on shares of First Solar in a report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $264.44.

More First Solar News

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

• Positive Sentiment: Value appeal: Zacks identifies First Solar as a top-ranked value stock, potentially supporting investor interest given its reported earnings strength and relatively low valuation metrics. First Solar Is a Top-Ranked Value Stock
• Neutral Sentiment: Short-interest data offers no actionable signal: The latest report lists short interest at zero shares and a zero-day days-to-cover ratio, unchanged from the prior period. Because the figures include an apparent calculation error (“NaN” increase), they should not be interpreted as evidence of either short covering or heightened bearish positioning.
• Negative Sentiment: Legal overhang intensifies: Multiple law firms are promoting a securities class action against First Solar and seeking investors to serve as lead plaintiff. The reported claims focus on alleged misrepresentations regarding underutilization of Series 6 module production and the costly challenges of expanding manufacturing operations in South Carolina. The allegations have not been proven, but the repeated announcements may weigh on sentiment by raising potential financial, legal and reputational risks. First Solar Investor Alert Levi and Korsinsky First Solar Lawsuit Alert

Insiders Place Their Bets

In other First Solar news, CTO Markus Gloeckler sold 829 shares of First Solar stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $248.00, for a total value of $205,592.00. Following the completion of the sale, the chief technology officer owned 6,642 shares of the company’s stock, valued at approximately $1,647,216. This trade represents a 11.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Caroline Stockdale sold 10,628 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $275.60, for a total value of $2,929,076.80. Following the completion of the transaction, the insider owned 23,792 shares of the company’s stock, valued at $6,557,075.20. This represents a 30.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 25,709 shares of company stock worth $6,386,163. 0.39% of the stock is owned by corporate insiders.

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.