First Solar, Inc. (FSLR)

Several events have impacted First Solar's stock price in the past six months. In October 2025, the company announced plans for a new U.S. manufacturing plant and reduced overseas production. In November 2025, a $330 million investment for the South Carolina facility was confirmed due to the "One Big Beautiful Bill Act". By December 2025, the contracted backlog was 50.1 GW, valued at $15.0 billion. In February 2026, First Solar sold $857 million in Inflation Reduction Act tax credits. The Q4 2025 earnings report impacted the stock, with revenue surpassing expectations but EPS missing estimates, and conservative 2026 sales guidance led to a stock decline. The backlog decreased, and contract terminations were reported. In March 2026, the company was reportedly investigated by law firms. In April 2026, Jefferies lowered its price target for FSLR. Despite recent headwinds, First Solar's stock price increased by 59.75% between April 2025 and April 2026.

Demand for solar products and services is subject to seasonality. Solar panel energy production peaks during the summer months due to longer daylight hours, while production decreases in colder seasons due to shorter days and lower sun angles. Electricity consumption also plays a role, with demand fluctuating for heating and air conditioning. Overproduction during temperate months can offset higher electricity usage during peak consumption seasons in regions with net metering.

First Solar, Inc. is an American solar technology company specializing in photovoltaic (PV) solar energy solutions. It is the world's largest thin-film solar module manufacturer and the largest module maker in the Western Hemisphere. The company designs, manufactures, and sells rigid thin-film modules using cadmium telluride (CdTe) to convert sunlight into electricity. Its major products include Series 6 Plus and Series 7 CdTe solar modules, used in utility-scale solar farms and commercial projects. First Solar also provides recycling services for old modules and offers limited warranties on product performance and workmanship.

First Solar is headquartered in Phoenix, Arizona, and has a significant global manufacturing presence. In the U.S., it operates manufacturing facilities in Ohio, Alabama, and Louisiana, with a new finishing facility in South Carolina expected to begin operations in 2026, increasing U.S. production capacity to 17.7 GW by 2027. Beyond the U.S., First Solar has manufacturing sites in Malaysia, Vietnam, and India, serving customers in the United States, France, India, Chile, and other international markets.

First Solar maintains a strong brand reputation as a leading American solar technology company. Its commitment to responsible practices includes a zero-tolerance policy for forced labor in its supply chain. In January 2026, the U.S. Patent & Trademark Office rejected challenges to First Solar's TOPCon patents. February 2026 saw a patent licensing agreement with Oxford PV and projections that First Solar would support American jobs and contribute to the U.S. GDP. A poll indicated strong support for solar energy and American-made solar among GOP voters. However, the company's reputation faced scrutiny in March 2026 due to investigations by law firms.

First Solar's ownership is predominantly institutional, with major shareholders including Vanguard Group Inc., BlackRock, Inc., Susquehanna International Group, Llp, Fmr Llc, Jane Street Group, Llc, and State Street Corp. Institutional ownership ranges from approximately 42.50% to 79.18%. Individual ownership is smaller, with notable shareholders including the Estate of John T. Walton, Lukas T. Walton, and Michael J. Ahearn. Insider ownership is minimal, reported between 0.42% and 22.67%.