1,293 Shares in First Solar, Inc. $FSLR Acquired by Folger Nolan Fleming Douglas Capital Management Inc.

Key Points

• Folger Nolan Fleming Douglas Capital Management Inc. acquired 1,293 shares of First Solar, Inc. ($FSLR), worth approximately $214,000, during the second quarter. This investment indicates growing interest from institutional investors in the solar energy sector.
• First Solar's CEO, Mark R. Widmar, recently sold 23,912 shares valued at about $4.4 million, reducing his stake in the company by 21.37%, while other insiders also sold shares totaling over $5.7 million in the last quarter.
• Analysts have given First Solar a consensus rating of "Moderate Buy" with a target price of $231.04, reflecting positive sentiment in the market, while the company reported strong earnings, beating expectations with an EPS of $3.18.

Folger Nolan Fleming Douglas Capital Management Inc. purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,293 shares of the solar cell manufacturer's stock, valued at approximately $214,000.

Several other institutional investors and hedge funds have also bought and sold shares of FSLR. Cetera Investment Advisers lifted its holdings in First Solar by 10.9% in the 1st quarter. Cetera Investment Advisers now owns 25,437 shares of the solar cell manufacturer's stock worth $3,216,000 after buying an additional 2,510 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in First Solar by 396.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 11,777 shares of the solar cell manufacturer's stock worth $1,489,000 after buying an additional 9,405 shares during the period. Asset Management One Co. Ltd. lifted its holdings in First Solar by 7.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 48,722 shares of the solar cell manufacturer's stock worth $6,160,000 after buying an additional 3,226 shares during the period. Vontobel Holding Ltd. lifted its holdings in First Solar by 14.2% in the 1st quarter. Vontobel Holding Ltd. now owns 189,320 shares of the solar cell manufacturer's stock worth $23,936,000 after buying an additional 23,528 shares during the period. Finally, Oakworth Capital Inc. lifted its holdings in First Solar by 24.7% in the 1st quarter. Oakworth Capital Inc. now owns 9,682 shares of the solar cell manufacturer's stock worth $1,224,000 after buying an additional 1,916 shares during the period. 92.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on FSLR. Glj Research reiterated a "buy" rating and issued a $214.06 price objective (up previously from $172.53) on shares of First Solar in a report on Tuesday, August 12th. Wall Street Zen upgraded First Solar from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Hsbc Global Res upgraded First Solar to a "strong-buy" rating in a report on Friday, August 1st. Jefferies Financial Group increased their price objective on First Solar from $212.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Finally, The Goldman Sachs Group raised their target price on First Solar from $283.00 to $293.00 and gave the company a "buy" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $231.04.

Insiders Place Their Bets

In other First Solar news, CEO Mark R. Widmar sold 23,912 shares of First Solar stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the completion of the transaction, the chief executive officer owned 87,978 shares in the company, valued at approximately $16,317,279.66. The trade was a 21.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Nathan B. Theurer sold 686 shares of First Solar stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total value of $124,872.58. The disclosure for this sale can be found here. Insiders have sold 30,715 shares of company stock valued at $5,733,305 in the last quarter. 0.48% of the stock is owned by company insiders.

First Solar Trading Down 3.6%

FSLR opened at $225.91 on Friday. The stock has a market cap of $24.23 billion, a PE ratio of 19.33, a PEG ratio of 0.47 and a beta of 1.38. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average of $206.10 and a 200-day moving average of $171.33. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $237.20.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.50. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Equities research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

First Solar 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.

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