Vanguard Group Inc. Raises Position in First Solar, Inc. $FSLR

Vanguard Group Inc. grew its stake in First Solar, Inc. (NASDAQ:FSLR) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,257,849 shares of the solar cell manufacturer’s stock after purchasing an additional 57,507 shares during the quarter. Vanguard Group Inc. owned approximately 12.36% of First Solar worth $2,194,704,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Wealth Preservation Advisors LLC purchased a new stake in First Solar in the 1st quarter valued at $25,000. TD Private Client Wealth LLC raised its holdings in shares of First Solar by 126.9% in the second quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock valued at $25,000 after purchasing an additional 85 shares during the last quarter. Harbor Investment Advisory LLC lifted its position in shares of First Solar by 138.9% during the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in First Solar by 69.4% during the second quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock worth $30,000 after purchasing an additional 75 shares during the last quarter. Finally, Colonial Trust Advisors bought a new stake in First Solar in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Up 1.7%

FSLR stock opened at $249.91 on Friday. The stock has a fifty day moving average of $237.58 and a 200-day moving average of $196.52. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $281.55. The company has a market capitalization of $26.82 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 0.46 and a beta of 1.51. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90.

First Solar (NASDAQ:FSLR) last announced 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 during the quarter, compared to the consensus estimate of $1.56 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The company’s revenue was up 79.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.91 earnings per share. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. As a group, equities research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. UBS Group lifted their target price on shares of First Solar from $275.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Wolfe Research lifted their price target on First Solar from $232.00 to $247.00 in a report on Friday, October 31st. Citigroup upped their price objective on First Solar from $198.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Wall Street Zen raised First Solar from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Susquehanna lifted their target price on First Solar from $273.00 to $285.00 in a research note on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.79.

Insider Buying and Selling

In other news, insider Georges Antoun sold 37,412 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $265.01, for a total value of $9,914,554.12. Following the completion of the transaction, the insider directly owned 15,424 shares of the company’s stock, valued at $4,087,514.24. This trade represents a 70.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael T. Sweeney sold 4,500 shares of First Solar stock in a transaction on 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 transaction, the director owned 13,662 shares of the company’s stock, valued at approximately $3,703,904.82. This trade represents a 24.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 48,912 shares of company stock valued at $12,971,349. Company 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.