Caitong International Asset Management Co. Ltd Grows Position in First Solar, Inc. $FSLR

Key Points

• Caitong International Asset Management Co. Ltd significantly increased its stake in First Solar, Inc. by 8,935.3%, owning 3,072 shares valued at approximately $509,000 by the end of the second quarter.
• First Solar received multiple positive ratings from analysts, with Hsbc Global Res upgrading it to "strong-buy" and BMO Capital Markets increasing its price target to $203.00.
• In its latest earnings report, First Solar exceeded analyst expectations with $3.18 EPS and revenues of $1.10 billion, marking an 8.6% increase in revenue year-over-year.

Caitong International Asset Management Co. Ltd raised its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 8,935.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,072 shares of the solar cell manufacturer's stock after purchasing an additional 3,038 shares during the period. Caitong International Asset Management Co. Ltd's holdings in First Solar were worth $509,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. TD Private Client Wealth LLC grew its holdings in First Solar by 126.9% in the second quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer's stock valued at $25,000 after purchasing an additional 85 shares during the last quarter. Harbor Investment Advisory LLC grew its holdings in First Solar by 138.9% in the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer's stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new stake in First Solar in the first quarter valued at $25,000. First Pacific Financial acquired a new stake in First Solar in the second quarter valued at $41,000. Finally, Colonial Trust Advisors acquired a new stake in First Solar in the first quarter valued at $32,000. Institutional investors and hedge funds own 92.08% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FSLR. Hsbc Global Res raised First Solar to a "strong-buy" rating in a report on Friday, August 1st. BMO Capital Markets increased their price objective on First Solar from $194.00 to $203.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Needham & Company LLC started coverage on First Solar in a research note on Wednesday. They set a "buy" rating and a $286.00 price objective on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of First Solar in a research note on Wednesday, October 8th. Finally, TD Cowen increased their price objective on First Solar from $220.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $244.43.

First Solar Stock Performance

NASDAQ FSLR opened at $229.00 on Friday. The business's 50-day moving average price is $214.41 and its 200 day moving average price is $177.63. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $248.04. The company has a market capitalization of $24.56 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 0.42 and a beta of 1.38. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04.

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

Insider Transactions at First Solar

In other news, 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 value of $124,872.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark R. Widmar sold 23,912 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total value of $4,434,958.64. Following the sale, the chief executive officer owned 87,978 shares in the company, valued at approximately $16,317,279.66. The trade was a 21.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,715 shares of company stock worth $5,733,305. Company insiders own 0.48% of the company's stock.

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.

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