185,500 Shares in First Solar, Inc. $FSLR Purchased by Strs Ohio

Key Points

• Strs Ohio acquired 185,500 shares of First Solar, Inc. valued at approximately $23.5 million, marking their new position in the company as of the 1st quarter.
• Institutional investors and hedge funds now own 92.08% of First Solar's stock, indicating strong institutional interest in the solar manufacturer.
• Several analysts have recently increased their price targets for First Solar, with UBS Group setting a new target at $275.00 and Bank of America increasing theirs to $201.00.

Strs Ohio acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 185,500 shares of the solar cell manufacturer's stock, valued at approximately $23,453,000. Strs Ohio owned about 0.17% of First Solar as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Garde Capital Inc. acquired a new position in shares of First Solar during the 1st quarter worth about $25,000. Wealth Preservation Advisors LLC acquired a new position in shares of First Solar during the 1st quarter worth about $25,000. Colonial Trust Advisors acquired a new position in shares of First Solar during the 1st quarter worth about $32,000. Larson Financial Group LLC lifted its position in shares of First Solar by 591.9% during the 1st 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 during the last quarter. Finally, Abound Financial LLC acquired a new position in shares of First Solar during the 1st quarter worth about $45,000. Institutional investors and hedge funds own 92.08% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on FSLR. Glj Research reissued a "buy" rating and set a $214.06 price objective (up previously from $172.53) on shares of First Solar in a research report on Tuesday, August 12th. Bank of America upped their price target on First Solar from $185.00 to $201.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. UBS Group reaffirmed a "buy" rating and issued a $275.00 price target (up previously from $255.00) on shares of First Solar in a report on Tuesday, August 5th. Hsbc Global Res raised First Solar to a "strong-buy" rating in a report on Friday, August 1st. Finally, Mizuho upped their price target on First Solar from $275.00 to $278.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $225.84.

Insider Activity

In other news, 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 sale, the insider directly owned 4,398 shares in the company, valued at approximately $791,640. This represents a 26.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mark R. Widmar sold 2,321 shares of the 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 sale, the chief executive officer owned 81,861 shares in the company, valued at approximately $16,326,357.84. This trade represents a 2.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,315 shares of company stock worth $6,021,305. Company insiders own 0.48% of the company's stock.

First Solar Trading Down 0.8%

FSLR stock opened at $201.70 on Friday. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $262.72. The firm has a market cap of $21.63 billion, a P/E ratio of 17.25, a P/E/G ratio of 0.40 and a beta of 1.41. The business's 50 day moving average is $187.50 and its 200-day moving average is $159.30. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04.

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