City Holding Co. Has $639,000 Stock Position in First Solar, Inc. $FSLR

Key Points

• City Holding Co. increased its holdings in First Solar, Inc. by 103.6% during the second quarter, owning 3,861 shares valued at approximately $639,000.
• Institutional investors collectively own 92.08% of First Solar's stock, indicating strong institutional support and interest in the company.
• First Solar's stock received multiple target price increases from analysts, with JPMorgan Chase raising its target from $241.00 to $262.00 and a consensus price target of $228.80.

City Holding Co. raised its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 103.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,861 shares of the solar cell manufacturer's stock after buying an additional 1,965 shares during the quarter. City Holding Co.'s holdings in First Solar were worth $639,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Nuveen LLC acquired a new stake in shares of First Solar during the 1st quarter worth approximately $114,730,000. Canada Pension Plan Investment Board grew its holdings in shares of First Solar by 16,857.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 759,033 shares of the solar cell manufacturer's stock worth $95,965,000 after purchasing an additional 754,557 shares in the last quarter. Invesco Ltd. grew its holdings in shares of First Solar by 32.3% during the 1st quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer's stock worth $306,909,000 after purchasing an additional 592,444 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of First Solar by 22,107.8% during the 1st quarter. Jones Financial Companies Lllp now owns 512,556 shares of the solar cell manufacturer's stock worth $64,802,000 after purchasing an additional 510,248 shares in the last quarter. Finally, Hill City Capital LP grew its holdings in shares of First Solar by 59.4% during the 1st quarter. Hill City Capital LP now owns 1,355,000 shares of the solar cell manufacturer's stock worth $171,313,000 after purchasing an additional 505,000 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FSLR. 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. BMO Capital Markets raised their target price on First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. raised their target price on First Solar from $241.00 to $262.00 and gave the stock an "overweight" rating in a research report on Friday, September 19th. Bank of America raised their target price on First Solar from $185.00 to $201.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Finally, Hsbc Global Res upgraded First Solar to a "strong-buy" rating in a research report on Friday, August 1st. Two 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $228.80.

Insider Activity

In other news, CEO Mark R. Widmar sold 2,321 shares of First Solar stock in a transaction 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 sale, the chief executive officer directly owned 81,861 shares of the company's stock, valued at approximately $16,326,357.84. This trade represents a 2.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patrick James Buehler sold 1,600 shares of First Solar 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 directly owned 4,398 shares of the company's stock, valued at $791,640. This trade represents a 26.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,315 shares of company stock valued at $6,021,305. Company insiders own 0.48% of the company's stock.

First Solar Trading Down 1.4%

Shares of FSLR opened at $220.02 on Monday. The stock has a fifty day moving average price of $196.64 and a two-hundred day moving average price of $165.07. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $262.72. The company has a market cap of $23.60 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 0.43 and a beta of 1.40.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company posted $3.25 EPS. The business'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. Analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

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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