69,473 Shares in First Solar, Inc. $FSLR Bought by Foresight Group Ltd Liability Partnership

Key Points

• Foresight Group Ltd Liability Partnership acquired 69,473 shares of First Solar, valued at approximately $8.78 million, increasing its stake to 0.06% of the company.
• First Solar's Q2 earnings report showed an EPS of $3.18, surpassing analysts' estimates, with revenue of $1.10 billion.
• Multiple analysts have revised their price targets for First Solar, with UBS Group setting a new target of $275.00, indicating a strong market interest in the stock.

Foresight Group Ltd Liability Partnership purchased a new stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 69,473 shares of the solar cell manufacturer's stock, valued at approximately $8,783,000. Foresight Group Ltd Liability Partnership owned approximately 0.06% of First Solar as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of FSLR. Vanguard Group Inc. increased its holdings in shares of First Solar by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer's stock worth $1,668,919,000 after buying an additional 378,641 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of First Solar by 17.2% in the 1st quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer's stock valued at $349,617,000 after acquiring an additional 405,457 shares during the last quarter. Invesco Ltd. grew its position in First Solar by 32.3% in the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer's stock worth $306,909,000 after acquiring an additional 592,444 shares in the last quarter. Samlyn Capital LLC increased its stake in First Solar by 6.3% during the first quarter. Samlyn Capital LLC now owns 1,741,794 shares of the solar cell manufacturer's stock worth $220,215,000 after acquiring an additional 103,403 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in First Solar by 20.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,741,026 shares of the solar cell manufacturer's stock valued at $220,118,000 after purchasing an additional 290,112 shares during the period. Institutional investors own 92.08% of the company's stock.

First Solar Trading Up 0.4%

FSLR stock opened at $203.79 on Thursday. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $262.72. The firm's 50-day moving average is $186.81 and its 200 day moving average is $158.58. The company has a market capitalization of $21.86 billion, a PE ratio of 17.43, a P/E/G ratio of 0.40 and a beta of 1.41. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41.

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 (EPS) for the quarter, beating the consensus estimate 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 net margin of 28.95% and a return on equity of 15.57%. The firm's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, research analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FSLR shares. Susquehanna raised their price objective on First Solar from $203.00 to $222.00 and gave the company a "positive" rating in a research note on Friday, August 1st. BMO Capital Markets raised their price target on First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. raised their target price on shares of First Solar from $200.00 to $208.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. UBS Group reaffirmed a "buy" rating and set a $275.00 price target (up from $255.00) on shares of First Solar in a research note on Tuesday, August 5th. Finally, Bank of America upped their price target 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 research 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 company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $225.84.

Insider Activity at First Solar

In related news, CAO Nathan B. Theurer sold 686 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total value of $124,872.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Patrick James Buehler sold 1,600 shares of the firm's stock in a transaction 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 transaction, the insider owned 4,398 shares in the company, valued at $791,640. The trade was a 26.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,315 shares of company stock worth $6,021,305. Company insiders own 0.48% of the company's stock.

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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