AQR Capital Management LLC Has $46.69 Million Stock Holdings in First Solar, Inc. $FSLR

Key Points

• AQR Capital Management LLC increased its holdings in First Solar, Inc. by 32.5%, acquiring an additional 92,542 shares, bringing their total to 377,626 shares valued at approximately $46.7 million.
• First Solar reported earnings of $3.18 per share for the last quarter, exceeding analyst estimates of $2.68, with revenue of $1.10 billion, an 8.6% year-over-year increase.
• Analysts have a consensus rating of "Moderate Buy" for First Solar, with 22 analysts assigning a Buy rating and an average target price of $225.84.

AQR Capital Management LLC increased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 32.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 377,626 shares of the solar cell manufacturer's stock after acquiring an additional 92,542 shares during the period. AQR Capital Management LLC owned about 0.35% of First Solar worth $46,686,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cetera Investment Advisers grew its holdings in shares of First Solar by 10.9% during the first quarter. Cetera Investment Advisers now owns 25,437 shares of the solar cell manufacturer's stock worth $3,216,000 after purchasing an additional 2,510 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in First Solar by 396.5% during 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 in the last quarter. Asset Management One Co. Ltd. lifted its position in First Solar by 7.1% during 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 in the last quarter. Vontobel Holding Ltd. grew its holdings in First Solar by 14.2% during the 1st quarter. Vontobel Holding Ltd. now owns 189,320 shares of the solar cell manufacturer's stock worth $23,936,000 after acquiring an additional 23,528 shares during the last quarter. Finally, Oakworth Capital Inc. increased its position 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 valued at $1,224,000 after acquiring an additional 1,916 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FSLR shares. Susquehanna upped their target price on shares of First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a research report on Friday, August 1st. Glj Research restated a "buy" rating and issued a $214.06 price objective (up previously from $172.53) on shares of First Solar in a research report on Tuesday, August 12th. The Goldman Sachs Group upped their price objective on First Solar from $204.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Hsbc Global Res raised First Solar to a "strong-buy" rating in a research note on Friday, August 1st. Finally, BMO Capital Markets boosted their target price on First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $225.84.

First Solar Trading Down 0.8%

FSLR traded down $1.61 during midday trading on Friday, reaching $201.70. 1,238,781 shares of the company were exchanged, compared to its average volume of 3,216,098. The stock has a market capitalization of $21.63 billion, a P/E ratio of 17.25, a PEG ratio of 0.40 and a beta of 1.41. First Solar, Inc. has a one year low of $116.56 and a one year high of $262.72. The stock's 50-day simple moving average is $187.50 and its 200 day simple moving average is $159.30. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90.

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

Insider Transactions at First Solar

In other news, CAO Nathan B. Theurer sold 686 shares of First Solar stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $182.03, for a total transaction of $124,872.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Patrick James Buehler sold 1,600 shares of the firm'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 transaction of $288,000.00. Following the sale, the insider 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. Insiders have sold a total of 32,315 shares of company stock valued at $6,021,305 over the last 90 days. 0.48% of the stock is owned by company insiders.

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.