First Solar, Inc. (FSLR)

In the past six months, First Solar's stock has experienced a decline, underperforming the Zacks solar industry. This was due to weak first-quarter results, manufacturing issues affecting certain Series 7 modules, and tariffs on imports from Vietnam, India, and Malaysia. Despite these challenges, analysts have maintained positive ratings and some have even boosted price targets for FSLR, and the stock saw an improvement in investor sentiment by early July 2025.

The solar industry experiences seasonality, with demand for solar installations generally highest during spring and summer due to longer days and abundant sunshine. Fall and winter are considered off-peak seasons due to shorter days and less sunlight. However, the long lifespan of solar systems means that seasonal variations tend to balance out over time.

First Solar, Inc. is an American solar technology and manufacturing company specializing in photovoltaic (PV) solar energy solutions, known for its advanced thin-film PV technology. The company designs, manufactures, and sells PV solar modules, primarily utilizing cadmium telluride (CdTe), and provides comprehensive services including finance, construction, maintenance, and end-of-life panel recycling. Its main products include the Series 6 Plus and Series 7 modules. The company's business model focuses on providing utility-scale PV systems in sustainable markets.

First Solar has a significant global presence with manufacturing facilities and project development offices worldwide, with headquarters in Tempe, Arizona. It operates manufacturing facilities in the U.S., Malaysia, Vietnam, and India. As of late 2024, First Solar's nameplate capacity exceeded 21 GW, with a projected 26 GW by 2026. The U.S. is its largest market, accounting for over 90% of total revenue in 2024.

First Solar generally maintains a strong brand reputation within the solar industry, recognized for its technology leadership, manufacturing scale, and financial stability. The company differentiates itself through continuous investment in research and development. However, an audit discovered the use of forced labor in a Malaysian factory that produces parts for the company, and First Solar has provided solar panels to solar farms located in Israeli settlements in the occupied West Bank, which has drawn criticism from some organizations.

First Solar, Inc. has a diverse ownership structure, including institutional, individual, and retail investors. Major institutional shareholders include Vanguard Group Inc., BlackRock, Inc., and State Street Corp. Of John T. Walton Estate is noted as the largest individual First Solar shareholder.