Baird Financial Group Inc. Has $4 Million Position in First Solar, Inc. $FSLR

Key Points

• Baird Financial Group Inc. reduced its stake in First Solar, Inc. by 7.9% during Q1, now holding 31,612 shares valued at approximately $3.997 million.
• Institutional investors own a total of 92.08% of First Solar's stock, with significant increases in holdings by firms such as Canada Pension Plan Investment Board and Invesco Ltd.
• Analysts are optimistic about First Solar's performance, with a consensus price target of $225.84 and the majority rating the stock as a "Moderate Buy."

Baird Financial Group Inc. trimmed its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 7.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,612 shares of the solar cell manufacturer's stock after selling 2,700 shares during the quarter. Baird Financial Group Inc.'s holdings in First Solar were worth $3,997,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harvest Portfolios Group Inc. raised its stake in First Solar by 3.9% during the first quarter. Harvest Portfolios Group Inc. now owns 1,658 shares of the solar cell manufacturer's stock worth $210,000 after acquiring an additional 63 shares in the last quarter. Legend Financial Advisors Inc. raised its stake in First Solar by 1.4% during the first quarter. Legend Financial Advisors Inc. now owns 4,726 shares of the solar cell manufacturer's stock worth $598,000 after acquiring an additional 64 shares in the last quarter. Horizon Investments LLC raised its stake in First Solar by 5.1% during the first quarter. Horizon Investments LLC now owns 1,537 shares of the solar cell manufacturer's stock worth $194,000 after acquiring an additional 74 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in First Solar by 0.7% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,348 shares of the solar cell manufacturer's stock worth $1,435,000 after purchasing an additional 82 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its position in First Solar by 4.3% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 2,243 shares of the solar cell manufacturer's stock worth $284,000 after buying an additional 92 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Down 0.9%

NASDAQ FSLR traded down $1.93 on Monday, reaching $203.21. The company had a trading volume of 2,444,680 shares, compared to its average volume of 3,278,014. The firm has a market capitalization of $21.79 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 0.40 and a beta of 1.41. 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, Inc. has a 1-year low of $116.56 and a 1-year high of $262.72. The company's fifty day moving average is $185.34 and its 200-day moving average is $157.95.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.50. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, research 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, CEO Mark R. Widmar sold 23,912 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the completion of the transaction, the chief executive officer directly owned 87,978 shares of the company's stock, valued at $16,317,279.66. This trade represents a 21.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Nathan B. Theurer sold 686 shares of First Solar stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The disclosure for this sale can be found here. Insiders sold 32,315 shares of company stock valued at $6,021,305 in the last ninety days. 0.48% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on FSLR shares. Mizuho lifted their target price on First Solar from $275.00 to $278.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Hsbc Global Res raised First Solar to a "strong-buy" rating in a research note on Friday, August 1st. BMO Capital Markets lifted their target price on First Solar from $194.00 to $203.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Susquehanna lifted their target price on First Solar from $203.00 to $222.00 and gave the company a "positive" rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada upped their price target on First Solar from $188.00 to $200.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Two equities research 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, First Solar presently has an average rating of "Moderate Buy" and an average 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.