Central Valley Advisors LLC Invests $1.73 Million in First Solar, Inc. $FSLR

Key Points

• Central Valley Advisors LLC invested approximately $1.73 million in First Solar, purchasing over 10,000 shares during the second quarter.
• Wall Street analysts have shown a positive outlook on First Solar, with several firms raising their price targets, leading to a consensus rating of "Moderate Buy" and a price target of around $225.84.
• First Solar reported earnings of $3.18 per share for the latest quarter, exceeding estimates, along with revenues of $1.10 billion, up 8.6% year-over-year.

Central Valley Advisors LLC bought a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,432 shares of the solar cell manufacturer's stock, valued at approximately $1,727,000.

A number of other large investors also recently modified their holdings of FSLR. Garde Capital Inc. acquired a new position in shares of First Solar during the first quarter worth approximately $25,000. Wealth Preservation Advisors LLC acquired a new position in shares of First Solar during the first quarter worth approximately $25,000. Harbor Investment Advisory LLC lifted its position 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 purchasing an additional 100 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of First Solar by 591.9% during the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock worth $32,000 after purchasing an additional 219 shares in the last quarter. Finally, Colonial Trust Advisors acquired a new position in shares of First Solar during the first quarter worth approximately $32,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FSLR has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on shares of First Solar from $200.00 to $208.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Wall Street Zen upgraded shares of First Solar from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. BMO Capital Markets increased their price objective on shares of First Solar from $194.00 to $203.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Susquehanna increased their price objective on shares of First Solar from $203.00 to $222.00 and gave the company a "positive" rating in a report on Friday, August 1st. Finally, Glj Research restated a "buy" rating and issued a $214.06 price objective (up from $172.53) on shares of First Solar in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $225.84.

First Solar Stock Down 0.8%

First Solar stock opened at $205.25 on Wednesday. The company has a market cap of $22.01 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 0.41 and a beta of 1.41. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $262.72. The company has a fifty day simple moving average of $188.89 and a 200 day simple moving average of $160.25. 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 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 business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other First Solar news, insider Patrick James Buehler sold 1,600 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $180.00, for a total value of $288,000.00. Following the completion of the sale, the insider 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 legal filing with the SEC, which is available through this link. Also, CAO Nathan B. Theurer sold 686 shares of the 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 a total of 32,315 shares of company stock worth $6,021,305 over the last quarter. 0.48% of the stock is currently owned by insiders.

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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