First Solar, Inc. $FSLR Shares Acquired by SFE Investment Counsel

SFE Investment Counsel increased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 9.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,810 shares of the solar cell manufacturer’s stock after purchasing an additional 5,852 shares during the quarter. First Solar accounts for about 2.0% of SFE Investment Counsel’s investment portfolio, making the stock its 12th largest holding. SFE Investment Counsel owned about 0.07% of First Solar worth $11,556,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of First Solar by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer’s stock worth $1,668,919,000 after buying an additional 378,641 shares during the last quarter. Wellington Management Group LLP raised its stake in First Solar by 17.2% during the first quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer’s stock worth $349,617,000 after acquiring an additional 405,457 shares during the period. Invesco Ltd. lifted its holdings in First Solar by 32.3% in the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer’s stock worth $306,909,000 after acquiring an additional 592,444 shares during the last quarter. Samlyn Capital LLC lifted its holdings in First Solar by 6.3% in the first quarter. Samlyn Capital LLC now owns 1,741,794 shares of the solar cell manufacturer’s stock worth $220,215,000 after acquiring an additional 103,403 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in First Solar by 20.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,741,026 shares of the solar cell manufacturer’s stock valued at $220,118,000 after acquiring an additional 290,112 shares during the period. Institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

Shares of FSLR opened at $267.64 on Friday. First Solar, Inc. has a one year low of $116.56 and a one year high of $281.55. The stock’s fifty day moving average is $226.52 and its 200-day moving average is $188.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The firm has a market capitalization of $28.72 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 0.46 and a beta of 1.51.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). First Solar had a net margin of 28.95% and a return on equity of 15.57%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the company earned $2.91 EPS. The business’s quarterly revenue was up 79.7% on a year-over-year basis. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. Equities analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FSLR shares. The Goldman Sachs Group reiterated a “buy” rating and set a $316.00 price target on shares of First Solar in a research report on Friday, October 31st. Guggenheim increased their target price on First Solar from $287.00 to $289.00 and gave the stock a “buy” rating in a research report on Thursday. Citigroup raised their target price on First Solar from $198.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Robert W. Baird boosted their price target on shares of First Solar from $240.00 to $264.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Finally, Mizuho increased their price objective on shares of First Solar from $278.00 to $335.00 in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $270.17.

Insider Activity

In related news, CAO Nathan B. Theurer sold 686 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mark R. Widmar sold 23,912 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total value of $4,434,958.64. Following the sale, the chief executive officer directly owned 87,978 shares in the company, valued at approximately $16,317,279.66. The trade was a 21.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 68,127 shares of company stock worth $15,647,859 over the last three months. Corporate insiders own 0.48% of the company’s stock.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.