First Solar, Inc. $FSLR Position Increased by Ashton Thomas Private Wealth LLC

Key Points

• Ashton Thomas Private Wealth LLC increased its holdings in First Solar, Inc. by 57.5%, acquiring an additional 12,578 shares during the first quarter, bringing their total ownership to 34,441 shares worth approximately $4.35 million.
• Wall Street analysts have generally rated First Solar positively, with 22 analysts giving it a Buy rating and an average target price of $225.84, while forecasts predict the company will post strong earnings in the coming year.
• Insider transactions recently saw CEO Mark R. Widmar sell 2,321 shares for about $462,900, reflecting a slight decrease in his stake, as insiders have sold a total of 32,315 shares valued at over $6 million in recent months.

Ashton Thomas Private Wealth LLC increased its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 57.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,441 shares of the solar cell manufacturer's stock after buying an additional 12,578 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in First Solar were worth $4,354,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Garde Capital Inc. bought a new position in First Solar in the 1st quarter worth approximately $25,000. Wealth Preservation Advisors LLC acquired a new stake in First Solar in the first quarter worth approximately $25,000. Larson Financial Group LLC lifted its position in First Solar by 591.9% in 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 during the period. Colonial Trust Advisors acquired a new stake in First Solar in the first quarter worth approximately $32,000. Finally, Abound Financial LLC acquired a new stake in First Solar in the first quarter worth approximately $45,000. 92.08% of the stock is owned by institutional investors.

First Solar Stock Down 0.8%

Shares of FSLR traded down $1.61 during mid-day trading on Friday, reaching $201.70. The company's stock had a trading volume of 1,238,781 shares, compared to its average volume of 2,731,442. The business has a fifty day moving average of $187.50 and a 200 day moving average of $159.44. The company has a market cap of $21.63 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 0.40 and a beta of 1.41. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $262.72. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.50. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The company's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter 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, analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Mark R. Widmar sold 2,321 shares of the stock in a transaction 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 sale, the chief executive officer owned 81,861 shares in the company, valued at $16,326,357.84. This represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Patrick James Buehler sold 1,600 shares of the stock in a transaction on Thursday, July 3rd. The shares were 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 of the company's stock, valued at $791,640. The trade was a 26.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,315 shares of company stock worth $6,021,305 over the last quarter. Corporate insiders own 0.48% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on FSLR. Glj Research restated a "buy" rating and issued a $214.06 target price (up from $172.53) on shares of First Solar in a research report on Tuesday, August 12th. UBS Group restated a "buy" rating and issued a $275.00 target price (up from $255.00) on shares of First Solar in a research report on Tuesday, August 5th. Guggenheim upped their target price on 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 First Solar from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Susquehanna upped their target price on First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $225.84.

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.