Corient IA LLC Acquires Shares of 2,500 First Solar, Inc. $FSLR

Key Points

• Corient IA LLC invested $316,000 in First Solar, acquiring 2,500 shares during the first quarter.
• Vanguard Group Inc. and other institutional investors have also increased their stakes in First Solar, with over 92% of the stock held by such investors.
• First Solar's stock currently holds a consensus rating of "Moderate Buy", with an average price target of $222.44 from analysts.

Corient IA LLC acquired a new stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 2,500 shares of the solar cell manufacturer's stock, valued at approximately $316,000.

A number of other large investors have also recently made changes to their positions in FSLR. Garde Capital Inc. purchased a new position in shares of First Solar during the 1st quarter valued at about $25,000. Larson Financial Group LLC lifted its position in shares of First Solar by 591.9% during the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock valued at $32,000 after buying an additional 219 shares in the last quarter. Abound Financial LLC purchased a new position in shares of First Solar during the 1st quarter valued at about $45,000. Princeton Global Asset Management LLC purchased a new position in shares of First Solar during the 1st quarter valued at about $51,000. Finally, Banque Transatlantique SA purchased a new position in shares of First Solar during the 4th quarter valued at about $53,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FSLR has been the topic of a number of analyst reports. Guggenheim lifted their price objective on First Solar from $202.00 to $287.00 and gave the company a "buy" rating in a research report on Friday. Hsbc Global Res raised First Solar to a "strong-buy" rating in a report on Friday, August 1st. Oppenheimer cut First Solar from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 30th. Glj Research reissued a "buy" rating and issued a $214.06 price target (up from $172.53) on shares of First Solar in a report on Tuesday, August 12th. Finally, TD Cowen boosted their price target on First Solar from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $225.84.

First Solar Price Performance

Shares of FSLR traded up $10.28 during mid-day trading on Friday, hitting $202.28. 4,235,792 shares of the stock were exchanged, compared to its average volume of 3,868,218. The company has a market cap of $21.69 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 0.41 and a beta of 1.48. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $262.72. The firm has a 50-day moving average of $174.62 and a two-hundred day moving average of $155.00. 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 (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, topping the consensus estimate of $2.68 by $0.50. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, equities analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Activity

In other news, CTO Markus Gloeckler sold 9,557 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the transaction, the chief technology officer owned 8,037 shares of the company's stock, valued at approximately $1,246,136.85. The trade was a 54.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Nathan B. Theurer sold 686 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were 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. In the last quarter, insiders have sold 46,691 shares of company stock worth $8,248,477. Company insiders own 0.48% of the company's stock.

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.