Callan Family Office LLC Makes New $244,000 Investment in First Solar, Inc. $FSLR

Key Points

• Callan Family Office LLC made a new investment of **$244,000** in **First Solar, Inc.** by purchasing **1,476 shares** in the second quarter.
• CEO Mark R. Widmar sold **2,321 shares** of First Solar stock for approximately **$462,900**, reducing his ownership by **2.76%**.
• JPMorgan Chase & Co. raised their price target for First Solar from **$262.00 to $278.00**, rating the stock as **"overweight"**.

Callan Family Office LLC purchased a new stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,476 shares of the solar cell manufacturer's stock, valued at approximately $244,000.

A number of other institutional investors have also recently added to or reduced their stakes in FSLR. Harvest Portfolios Group Inc. lifted its position in First Solar by 3.9% in the first quarter. Harvest Portfolios Group Inc. now owns 1,658 shares of the solar cell manufacturer's stock valued at $210,000 after purchasing an additional 63 shares during the period. Legend Financial Advisors Inc. increased its position in First Solar by 1.4% during the 1st quarter. Legend Financial Advisors Inc. now owns 4,726 shares of the solar cell manufacturer's stock worth $598,000 after purchasing an additional 64 shares during the period. Harrington Investments INC raised its stake in shares of First Solar by 0.5% during the 2nd quarter. Harrington Investments INC now owns 13,278 shares of the solar cell manufacturer's stock worth $2,198,000 after buying an additional 65 shares in the last quarter. Energy Income Partners LLC lifted its holdings in shares of First Solar by 0.8% in the 1st quarter. Energy Income Partners LLC now owns 9,257 shares of the solar cell manufacturer's stock valued at $1,170,000 after buying an additional 72 shares during the period. Finally, Horizon Investments LLC lifted its holdings in shares of First Solar by 5.1% in the 1st quarter. Horizon Investments LLC now owns 1,537 shares of the solar cell manufacturer's stock valued at $194,000 after buying an additional 74 shares during the period. Hedge funds and other institutional investors own 92.08% of the company's stock.

Insiders Place Their Bets

In other First Solar news, CEO Mark R. Widmar sold 2,321 shares of First Solar stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 81,861 shares in the company, valued at $16,326,357.84. The trade was a 2.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Nathan B. Theurer sold 686 shares of the company'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. Insiders have sold 30,715 shares of company stock worth $5,733,305 over the last three months. 0.48% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FSLR. JPMorgan Chase & Co. increased their target price on shares of First Solar from $262.00 to $278.00 and gave the company an "overweight" rating in a report on Thursday. Morgan Stanley raised their price objective on First Solar from $215.00 to $253.00 and gave the company an "overweight" rating in a research note on Thursday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of First Solar in a report on Wednesday, October 8th. Guggenheim upped their target price on First Solar from $202.00 to $287.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Finally, Citigroup raised their price target on First Solar from $198.00 to $300.00 and gave the company a "buy" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $240.56.

First Solar Price Performance

FSLR stock opened at $237.79 on Friday. The stock has a 50-day moving average price of $209.93 and a two-hundred day moving average price of $174.27. The company has a market cap of $25.50 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 0.49 and a beta of 1.38. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $248.04. 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 results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping the consensus estimate of $2.68 by $0.50. The firm had revenue of $1.10 billion for 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%.First Solar's revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, research analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

First Solar 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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