Shelton Capital Management Purchases 4,300 Shares of First Solar, Inc. $FSLR

Shelton Capital Management increased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 32.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,472 shares of the solar cell manufacturer’s stock after buying an additional 4,300 shares during the quarter. Shelton Capital Management’s holdings in First Solar were worth $2,892,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SFE Investment Counsel raised its position in First Solar by 9.1% in the 2nd quarter. SFE Investment Counsel now owns 69,810 shares of the solar cell manufacturer’s stock valued at $11,556,000 after buying an additional 5,852 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of First Solar by 10.9% in the first quarter. Cetera Investment Advisers now owns 25,437 shares of the solar cell manufacturer’s stock worth $3,216,000 after purchasing an additional 2,510 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of First Solar by 57.2% in the first quarter. Raymond James Financial Inc. now owns 43,991 shares of the solar cell manufacturer’s stock worth $5,562,000 after purchasing an additional 16,003 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. increased its position in shares of First Solar by 18.2% in the first quarter. Sumitomo Mitsui Financial Group Inc. now owns 101,659 shares of the solar cell manufacturer’s stock valued at $12,853,000 after acquiring an additional 15,656 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in First Solar during the second quarter valued at approximately $1,323,000. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Stock Down 3.4%

First Solar stock opened at $263.54 on Tuesday. The firm has a market cap of $28.28 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 0.46 and a beta of 1.51. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $281.55. 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 50 day moving average price of $244.32 and a two-hundred day moving average price of $201.70.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 EPS for the quarter, missing the consensus estimate of $4.32 by ($0.08). First Solar had a net margin of 28.95% and a return on equity of 15.57%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the company earned $2.91 EPS. The firm’s revenue for the quarter 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 predict that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Buying and Selling

In other First Solar news, insider Georges Antoun sold 37,412 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $265.01, for a total value of $9,914,554.12. Following the completion of the sale, the insider directly owned 15,424 shares in the company, valued at approximately $4,087,514.24. This trade represents a 70.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael T. Sweeney sold 4,500 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $271.11, for a total value of $1,219,995.00. Following the completion of the sale, the director directly owned 13,662 shares of the company’s stock, valued at $3,703,904.82. The trade was a 24.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 48,912 shares of company stock valued at $12,971,349 over the last ninety days. 0.48% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Susquehanna boosted their price target on First Solar from $273.00 to $285.00 in a research note on Friday, October 31st. Jefferies Financial Group set a $269.00 price target on First Solar and gave the stock a “buy” rating in a research report on Friday, October 31st. BMO Capital Markets reaffirmed an “outperform” rating and set a $273.00 price objective on shares of First Solar in a research report on Friday, October 31st. Wolfe Research lifted their price objective on shares of First Solar from $232.00 to $247.00 in a research note on Friday, October 31st. Finally, Glj Research boosted their price target on First Solar from $214.06 to $314.43 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $269.79.

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.