Dynamic Technology Lab Private Ltd Acquires New Position in First Solar, Inc. $FSLR

Key Points

• Dynamic Technology Lab Private Ltd purchased 9,852 shares of First Solar, valued at approximately $1.25 million, indicating growing institutional interest in the company.
• First Solar reported earnings of $3.18 per share for the last quarter, beating estimates and demonstrating a year-over-year revenue increase of 8.6%.
• Several analysts have upgraded their ratings and price targets for First Solar, with Guggenheim setting a new target of $287.00, reflecting a positive outlook on the stock's performance.

Dynamic Technology Lab Private Ltd 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 disclosure with the Securities and Exchange Commission. The firm acquired 9,852 shares of the solar cell manufacturer's stock, valued at approximately $1,246,000.

Several other large investors also recently modified their holdings of FSLR. Nuveen LLC acquired a new stake in shares of First Solar during the 1st quarter worth approximately $114,730,000. Canada Pension Plan Investment Board grew its position in First Solar by 16,857.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 759,033 shares of the solar cell manufacturer's stock valued at $95,965,000 after purchasing an additional 754,557 shares during the period. Invesco Ltd. grew its position in First Solar by 32.3% in the 1st quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer's stock valued at $306,909,000 after purchasing an additional 592,444 shares during the period. Hill City Capital LP grew its position in First Solar by 59.4% in the 1st quarter. Hill City Capital LP now owns 1,355,000 shares of the solar cell manufacturer's stock valued at $171,313,000 after purchasing an additional 505,000 shares during the period. Finally, Wellington Management Group LLP grew its position in 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 purchasing an additional 405,457 shares during the period. Institutional investors and hedge funds own 92.08% of the company's stock.

Insider Buying and Selling

In related news, CAO Nathan B. Theurer sold 686 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $182.03, for a total value of $124,872.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Patrick James Buehler sold 1,600 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total transaction of $288,000.00. Following the completion of the transaction, the insider directly owned 4,398 shares in the company, valued at $791,640. This trade represents a 26.68% 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 valued at $6,021,305. 0.48% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Royal Bank Of Canada lifted their price target on shares of First Solar from $188.00 to $200.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Guggenheim lifted their price target on shares of First Solar from $202.00 to $287.00 and gave the company a "buy" rating in a research report on Friday, August 22nd. JPMorgan Chase & Co. lifted their price target on shares of First Solar from $200.00 to $208.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Susquehanna lifted their price target on shares of First Solar from $203.00 to $222.00 and gave the company a "positive" rating in a research report on Friday, August 1st. Finally, TD Cowen raised their price objective on First Solar from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have given 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 an average target price of $225.84.

First Solar Stock Down 0.8%

NASDAQ:FSLR traded down $1.61 during trading hours on Friday, hitting $201.70. 1,238,781 shares of the company traded hands, compared to its average volume of 3,216,098. 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 firm's 50-day simple moving average is $187.50 and its 200-day simple moving average is $159.31. First Solar, Inc. has a one year low of $116.56 and a one year high of $262.72. The company has a market cap of $21.63 billion, a PE ratio of 17.25, a PEG ratio of 0.40 and a beta of 1.41.

First Solar (NASDAQ:FSLR - Get Free Report) last issued 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. The business had revenue of $1.10 billion for 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 business's revenue was up 8.6% on a year-over-year basis. During the same period last year, the business earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Equities analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

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.