1,404 Shares in First Solar, Inc. $FSLR Purchased by Vision Capital Management Inc.

Key Points

• Vision Capital Management Inc. has acquired 1,404 shares of First Solar, Inc. valued at around $232,000, marking a new investment in the solar cell manufacturer.
• CEO Mark R. Widmar sold 2,321 shares of First Solar, resulting in a decrease in his ownership stake in the company by 2.76%.
• First Solar recently reported a quarterly EPS of $3.18, beating estimates and demonstrating an 8.6% increase in revenue year-over-year.

Vision Capital Management Inc. purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,404 shares of the solar cell manufacturer's stock, valued at approximately $232,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Garde Capital Inc. purchased a new position in shares of First Solar during the first quarter worth approximately $25,000. Wealth Preservation Advisors LLC purchased a new position in First Solar during the first quarter valued at approximately $25,000. TD Private Client Wealth LLC increased its holdings in shares of First Solar by 126.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer's stock valued at $25,000 after acquiring an additional 85 shares during the period. Harbor Investment Advisory LLC raised its holdings in First Solar by 138.9% in the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer's stock worth $28,000 after purchasing an additional 100 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in shares of First Solar by 591.9% during the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock worth $32,000 after purchasing an additional 219 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other First Solar news, CEO Mark R. Widmar sold 2,321 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $199.44, for a total value of $462,900.24. Following the completion of the transaction, the chief executive officer directly owned 81,861 shares of the company's stock, valued at approximately $16,326,357.84. The trade was a 2.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Patrick James Buehler sold 1,600 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total value of $288,000.00. Following the completion of the sale, the insider owned 4,398 shares in the company, valued at approximately $791,640. This represents a 26.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,315 shares of company stock valued at $6,021,305 over the last ninety days. Company insiders own 0.48% of the company's stock.

First Solar Stock Up 1.8%

NASDAQ:FSLR opened at $223.05 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41. The company's fifty day moving average price is $195.76 and its 200-day moving average price is $164.09. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $262.72. The firm has a market capitalization of $23.92 billion, a P/E ratio of 19.08, a PEG ratio of 0.43 and a beta of 1.41.

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

Analyst Ratings Changes

FSLR has been the topic of a number of research analyst reports. Susquehanna boosted their price target on First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a research note on Friday, August 1st. Guggenheim boosted their target price on shares of First Solar from $202.00 to $287.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Wall Street Zen upgraded shares of First Solar from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. UBS Group reiterated a "buy" rating and set a $275.00 price objective (up from $255.00) on shares of First Solar in a research note on Tuesday, August 5th. Finally, Bank of America boosted their price objective on shares of First Solar from $185.00 to $201.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $228.80.

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.

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