New York Life Investment Management LLC Has $2.41 Million Stake in First Solar, Inc. $FSLR

New York Life Investment Management LLC decreased its stake in First Solar, Inc. (NASDAQ:FSLR) by 3.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,584 shares of the solar cell manufacturer’s stock after selling 535 shares during the quarter. New York Life Investment Management LLC’s holdings in First Solar were worth $2,414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Integral Investment Advisors Inc. lifted its stake in First Solar by 6.9% in the second quarter. Integral Investment Advisors Inc. now owns 1,702 shares of the solar cell manufacturer’s stock valued at $282,000 after buying an additional 110 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of First Solar by 95.2% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 32,400 shares of the solar cell manufacturer’s stock worth $5,363,000 after purchasing an additional 15,800 shares during the period. Advisory Alpha LLC acquired a new stake in shares of First Solar during the second quarter worth about $336,000. Teacher Retirement System of Texas raised its position in shares of First Solar by 4.0% during the second quarter. Teacher Retirement System of Texas now owns 15,470 shares of the solar cell manufacturer’s stock worth $2,561,000 after purchasing an additional 602 shares during the period. Finally, Penobscot Wealth Management acquired a new stake in shares of First Solar during the second quarter worth about $217,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Up 14.3%

NASDAQ:FSLR opened at $266.94 on Friday. 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 company has a market cap of $28.63 billion, a PE ratio of 22.83, a PEG ratio of 0.46 and a beta of 1.38. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $269.67. The stock has a 50-day simple moving average of $219.21 and a 200 day simple moving average of $182.97.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data 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). The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.56 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The firm’s quarterly revenue was up 79.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.91 earnings per share. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. On average, sell-side analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of research analyst reports. UBS Group reaffirmed a “buy” rating and set a $275.00 price target (up previously from $255.00) on shares of First Solar in a research report on Tuesday, August 5th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $316.00 price target on shares of First Solar in a research report on Friday. TD Cowen raised their price target on First Solar from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday. Wall Street Zen raised First Solar from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Mizuho raised their price target on First Solar from $278.00 to $335.00 in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $260.77.

Insider Buying and Selling

In other First Solar news, CEO Mark R. Widmar sold 23,912 shares of the firm’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 completion of the transaction, the chief executive officer directly owned 87,978 shares in the company, valued at $16,317,279.66. This trade represents a 21.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $124,872.58. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 30,715 shares of company stock valued at $5,733,305. Corporate insiders own 0.48% of the company’s stock.

First Solar Company Profile

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.