Bartlett & CO. Wealth Management LLC Sells 1,425 Shares of First Solar, Inc. $FSLR

Key Points

• Bartlett & CO. Wealth Management LLC reduced its stake in First Solar by 24.5% during the second quarter, selling 1,425 shares to hold 4,390 shares worth approximately $727,000.
• CEO Mark R. Widmar sold 2,321 shares at an average price of $199.44, representing a 2.76% decrease in his ownership, while insider sales amounted to 30,715 shares valued at about $5.73 million over the last three months.
• Wall Street analysts have upgraded First Solar ratings, with price targets revised significantly upwards, indicating a strong consensus for the company's growth potential; the average target price now stands at $231.04.

Bartlett & CO. Wealth Management LLC lessened its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 24.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,390 shares of the solar cell manufacturer's stock after selling 1,425 shares during the quarter. Bartlett & CO. Wealth Management LLC's holdings in First Solar were worth $727,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FSLR. Garde Capital Inc. bought a new position in shares of First Solar in the first quarter worth about $25,000. Wealth Preservation Advisors LLC bought a new position in First Solar in the 1st quarter worth approximately $25,000. TD Private Client Wealth LLC increased its position in First Solar by 126.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer's stock worth $25,000 after buying an additional 85 shares during the period. Harbor Investment Advisory LLC lifted its holdings in shares of First Solar by 138.9% during the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer's stock worth $28,000 after buying an additional 100 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of First Solar by 591.9% in the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock valued at $32,000 after acquiring an additional 219 shares during the period. 92.08% of the stock is currently owned by institutional investors.

Insider Activity at First Solar

In related news, CEO Mark R. Widmar sold 2,321 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $199.44, for a total value of $462,900.24. Following the transaction, the chief executive officer directly owned 81,861 shares in the company, valued at approximately $16,326,357.84. This represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Nathan B. Theurer sold 686 shares of the firm's 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 30,715 shares of company stock valued at $5,733,305. 0.48% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FSLR has been the subject of several research analyst reports. Wall Street Zen upgraded shares of First Solar from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Guggenheim upped their price objective 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. Deutsche Bank Aktiengesellschaft lifted their target price on First Solar from $225.00 to $255.00 and gave the stock a "buy" rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on First Solar from $241.00 to $262.00 and gave the company an "overweight" rating in a report on Friday, September 19th. Finally, UBS Group reiterated a "buy" rating and issued a $275.00 price objective (up previously from $255.00) on shares of First Solar in a research report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $231.04.

First Solar Stock Performance

NASDAQ FSLR opened at $232.13 on Friday. The stock has a market cap of $24.90 billion, a PE ratio of 19.86, a P/E/G ratio of 0.44 and a beta of 1.38. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The firm has a 50-day moving average of $200.28 and a 200-day moving average of $167.18. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $240.60.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $1.10 billion for 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 business's revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

First Solar Company 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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