Channel Wealth LLC Makes New $245,000 Investment in First Solar, Inc. $FSLR

Key Points

• Channel Wealth LLC acquired a new stake in First Solar, purchasing 1,479 shares valued at approximately $245,000 during the 2nd quarter.
• Several hedge funds, including Gotham Asset Management and Lazard Asset Management, significantly increased their holdings in First Solar, reflecting strong institutional interest in the company.
• Analysts have issued varied ratings on First Solar, with price targets ranging from $194 to $287, leading to an average rating of "Moderate Buy" with a consensus price target of $225.84.

Channel Wealth LLC acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,479 shares of the solar cell manufacturer's stock, valued at approximately $245,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FSLR. Gotham Asset Management LLC grew its holdings in First Solar by 25.6% during the fourth quarter. Gotham Asset Management LLC now owns 3,018 shares of the solar cell manufacturer's stock worth $532,000 after acquiring an additional 616 shares during the period. Lazard Asset Management LLC grew its holdings in First Solar by 111.2% during the fourth quarter. Lazard Asset Management LLC now owns 526 shares of the solar cell manufacturer's stock worth $92,000 after acquiring an additional 277 shares during the period. Man Group plc grew its holdings in First Solar by 49.0% during the fourth quarter. Man Group plc now owns 43,805 shares of the solar cell manufacturer's stock worth $7,720,000 after acquiring an additional 14,406 shares during the period. Quantinno Capital Management LP boosted its position in First Solar by 290.2% during the fourth quarter. Quantinno Capital Management LP now owns 8,494 shares of the solar cell manufacturer's stock worth $1,497,000 after purchasing an additional 6,317 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in First Solar by 13.8% during the fourth quarter. ProShare Advisors LLC now owns 24,867 shares of the solar cell manufacturer's stock worth $4,383,000 after purchasing an additional 3,018 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Jefferies Financial Group set a $194.00 target price on First Solar and gave the stock a "buy" rating in a research report on Tuesday, July 15th. UBS Group reiterated a "buy" rating and set a $275.00 target price (up from $255.00) on shares of First Solar in a research report on Tuesday, August 5th. Guggenheim boosted their target price on First Solar from $202.00 to $287.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Susquehanna boosted their target price on First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a research report on Friday, August 1st. Finally, Wall Street Zen upgraded First Solar from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, First Solar currently has an average rating of "Moderate Buy" and an average price target of $226.64.

First Solar Price Performance

Shares of NASDAQ:FSLR traded down $1.08 on Thursday, hitting $209.63. The company had a trading volume of 2,328,530 shares, compared to its average volume of 2,196,849. 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, Inc. has a 52-week low of $116.56 and a 52-week high of $262.72. The business has a 50 day moving average of $190.67 and a 200 day moving average of $161.17. The company has a market cap of $22.48 billion, a PE ratio of 17.93, a PEG ratio of 0.42 and a beta of 1.41.

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, topping the consensus estimate of $2.68 by $0.50. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the business posted $3.25 earnings per share. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, equities analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Mark R. Widmar sold 23,912 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the transaction, the chief executive officer directly owned 87,978 shares in the company, valued at approximately $16,317,279.66. This represents a 21.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Nathan B. Theurer sold 686 shares of the 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,315 shares of company stock worth $6,021,305. 0.48% of the stock is owned by company insiders.

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.