Clear Harbor Asset Management LLC Sells 4,855 Shares of First Solar, Inc. $FSLR

Key Points

• Clear Harbor Asset Management LLC sold 4,855 shares of First Solar, reducing its holdings by 32.0%, leaving it with 10,303 shares valued at approximately $1.7 million.
• Several institutional investors have recently increased their stakes in First Solar, with Lazard Asset Management boosting its position by 111.2% during the fourth quarter.
• First Solar's stock has received positive ratings from multiple analysts, with target prices raised significantly, reflecting a consensus rating of "Moderate Buy" and an average price target of $228.80.

Clear Harbor Asset Management LLC decreased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 32.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,303 shares of the solar cell manufacturer's stock after selling 4,855 shares during the period. Clear Harbor Asset Management LLC's holdings in First Solar were worth $1,706,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FSLR. Lazard Asset Management LLC raised its position in First Solar by 111.2% during the 4th quarter. Lazard Asset Management LLC now owns 526 shares of the solar cell manufacturer's stock valued at $92,000 after purchasing an additional 277 shares during the last quarter. Vident Advisory LLC raised its position in First Solar by 24.7% during the 4th quarter. Vident Advisory LLC now owns 3,324 shares of the solar cell manufacturer's stock valued at $586,000 after purchasing an additional 658 shares during the last quarter. Woodline Partners LP bought a new position in First Solar during the 4th quarter valued at approximately $1,133,000. GF Fund Management CO. LTD. bought a new position in First Solar during the 4th quarter valued at approximately $2,129,000. Finally, Mackenzie Financial Corp raised its position in First Solar by 4.7% during the 4th quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer's stock valued at $2,868,000 after purchasing an additional 738 shares during the last quarter. Institutional investors own 92.08% of the company's stock.

Analyst Ratings Changes

FSLR has been the subject of several research reports. BMO Capital Markets increased 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. Susquehanna increased 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. TD Cowen increased their target price on First Solar from $220.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Wall Street Zen raised First Solar from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, JPMorgan Chase & Co. increased 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. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, First Solar has a consensus rating of "Moderate Buy" and an average price target of $228.80.

Insider Transactions at First Solar

In other news, CEO Mark R. Widmar sold 23,912 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total value of $4,434,958.64. Following the transaction, the chief executive officer directly owned 87,978 shares in the company, valued at $16,317,279.66. This trade represents a 21.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction, the insider owned 4,398 shares in the company, valued at approximately $791,640. This trade represents a 26.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,315 shares of company stock worth $6,021,305 in the last ninety days. Insiders own 0.48% of the company's stock.

First Solar Stock Performance

Shares of FSLR opened at $212.49 on Monday. The business's fifty day simple moving average is $191.68 and its two-hundred day simple moving average is $162.16. 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 12 month low of $116.56 and a 12 month high of $262.72. The company has a market cap of $22.79 billion, a price-to-earnings ratio of 18.18, a P/E/G ratio of 0.42 and a beta of 1.40.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating the consensus estimate of $2.68 by $0.50. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The company's revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $3.25 EPS. 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.

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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