Candriam S.C.A. Raises Stock Holdings in First Solar, Inc. $FSLR

Key Points

• Candriam S.C.A. increased its holdings in First Solar, Inc. by 89.2% during the first quarter, owning a total of 165,194 shares valued at approximately $20.89 million.
• A number of hedge funds, including Nuveen LLC and Invesco Ltd., also made significant investments in First Solar, indicating strong institutional interest in the stock.
• Analysts have set varying target prices for First Solar, with a consensus target of $222.44 and ratings predominantly leaning towards a Moderate Buy.

Candriam S.C.A. boosted its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 89.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 165,194 shares of the solar cell manufacturer's stock after buying an additional 77,871 shares during the quarter. Candriam S.C.A. owned 0.15% of First Solar worth $20,886,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of FSLR. Nuveen LLC purchased a new position in First Solar in the 1st quarter worth about $114,730,000. Invesco Ltd. raised its position in First Solar by 32.3% in the 1st quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer's stock worth $306,909,000 after buying an additional 592,444 shares during the last quarter. Wellington Management Group LLP raised its position in First Solar by 17.2% in the 1st quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer's stock worth $349,617,000 after buying an additional 405,457 shares during the last quarter. Vanguard Group Inc. increased its position in shares of First Solar by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer's stock valued at $1,668,919,000 after purchasing an additional 378,641 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of First Solar by 218.6% during the 4th quarter. Royal Bank of Canada now owns 446,799 shares of the solar cell manufacturer's stock valued at $78,744,000 after purchasing an additional 306,581 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FSLR shares. Morgan Stanley set a $223.00 price objective on shares of First Solar and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Mizuho increased their target price on shares of First Solar from $275.00 to $278.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. UBS Group reissued a "buy" rating and issued a $275.00 target price (up from $255.00) on shares of First Solar in a report on Tuesday, August 5th. Guggenheim reduced their target price on shares of First Solar from $253.00 to $202.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Bank of America increased their target price on shares of First Solar from $185.00 to $201.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $222.44.

Insider Buying and Selling

In related news, insider Patrick James Buehler sold 1,600 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total value of $288,000.00. Following the completion of the sale, the insider directly owned 4,398 shares in the company, valued at $791,640. This trade represents a 26.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Markus Gloeckler sold 9,557 shares of First Solar stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total value of $1,481,812.85. Following the sale, the chief technology officer owned 8,037 shares of the company's stock, valued at approximately $1,246,136.85. This trade represents a 54.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,691 shares of company stock valued at $8,248,477 over the last 90 days. 0.48% of the stock is currently owned by insiders.

First Solar Trading Down 2.1%

FSLR stock opened at $206.44 on Thursday. The firm has a fifty day moving average price of $174.14 and a 200 day moving average price of $154.83. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $262.72. 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 market cap of $22.14 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 0.41 and a beta of 1.48.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, beating 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%. First Solar's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Sell-side analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal 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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