First Solar, Inc. $FSLR Shares Sold by Credit Agricole S A

Key Points

• Credit Agricole S A reduced its stake in First Solar, Inc. by 39.6% in the first quarter, now owning about 0.05% of the company valued at $7.28 million.
• First Solar, Inc. reported a Q2 EPS of $3.18, exceeding expectations, with revenue of $1.10 billion, which is up 8.6% year-over-year.
• Multiple research firms have raised their target prices for First Solar, with UBS Group setting a new target price of $275.00 and maintaining a "buy" rating.

Credit Agricole S A reduced its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 39.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,584 shares of the solar cell manufacturer's stock after selling 37,803 shares during the period. Credit Agricole S A owned about 0.05% of First Solar worth $7,280,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FSLR. Garde Capital Inc. acquired a new stake in First Solar in the first quarter valued at approximately $25,000. Larson Financial Group LLC grew its holdings in First Solar by 591.9% in the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock valued at $32,000 after purchasing an additional 219 shares during the period. Colonial Trust Advisors acquired a new stake in First Solar in the first quarter valued at approximately $32,000. Abound Financial LLC acquired a new stake in First Solar in the first quarter valued at approximately $45,000. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of First Solar in the first quarter worth approximately $51,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Nathan B. Theurer sold 686 shares of the business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total transaction of $124,872.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 23,912 shares of the business'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 of the company's stock, valued at $16,317,279.66. The trade was a 21.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,691 shares of company stock worth $8,248,477 over the last three months. Company insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FSLR. Guggenheim lifted their price objective on First Solar from $202.00 to $287.00 and gave the stock a "buy" rating in a research report on Friday. JPMorgan Chase & Co. lifted their price objective on First Solar from $200.00 to $208.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Susquehanna lifted their target price on First Solar from $203.00 to $222.00 and gave the company a "positive" rating in a research report on Friday, August 1st. Hsbc Global Res upgraded First Solar to a "strong-buy" rating in a research report on Friday, August 1st. Finally, BMO Capital Markets lifted their target price on First Solar from $194.00 to $203.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $225.84.

First Solar Trading Up 5.4%

Shares of NASDAQ FSLR traded up $10.28 during trading on Friday, reaching $202.28. The stock had a trading volume of 4,424,775 shares, compared to its average volume of 3,637,058. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $262.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The business's 50-day moving average price is $175.17 and its 200-day moving average price is $155.11. The company has a market cap of $21.69 billion, a P/E ratio of 17.30, a PEG ratio of 0.40 and a beta of 1.48.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS 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 during the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the previous year, the firm posted $3.25 EPS. First Solar's revenue for the quarter was up 8.6% on a year-over-year basis. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, equities research analysts predict that First Solar, Inc. will post 13.05 EPS 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.