CX Institutional Raises Position in First Solar, Inc. $FSLR

Key Points

• CX Institutional significantly increased its holdings in First Solar, Inc. (FSLR) by 1,366.7% during the second quarter, owning 2,156 shares valued at $357,000.
• First Solar reported a 3.18 EPS for the last quarter, exceeding analyst expectations of $2.68, and also had an 8.6% year-over-year revenue growth.
• Several analysts have upgraded their price targets for First Solar, with Mizuho raising its target to $278 and Guggenheim to $287, indicating a strong positive outlook for the stock.

CX Institutional increased its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 1,366.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,156 shares of the solar cell manufacturer's stock after acquiring an additional 2,009 shares during the quarter. CX Institutional's holdings in First Solar were worth $357,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of FSLR. Garde Capital Inc. acquired a new position in shares of First Solar in the first quarter worth about $25,000. Wealth Preservation Advisors LLC acquired a new position in shares of First Solar in the first quarter worth about $25,000. Harbor Investment Advisory LLC lifted its stake in shares of First Solar by 138.9% in the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer's stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of First Solar by 591.9% in the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock worth $32,000 after acquiring an additional 219 shares in the last quarter. Finally, Colonial Trust Advisors acquired a new position in shares of First Solar in the first quarter worth about $32,000. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Stock Performance

Shares of FSLR stock opened at $219.20 on Tuesday. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72. The firm has a market capitalization of $23.51 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. The business has a 50 day simple moving average of $192.84 and a 200 day simple moving average of $162.71. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41.

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 analysts' consensus estimates of $2.68 by $0.50. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior 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. On average, equities research analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Analyst Upgrades and Downgrades

FSLR has been the topic of several recent analyst reports. Mizuho boosted their price target on First Solar from $275.00 to $278.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Jefferies Financial Group set a $194.00 price objective on First Solar and gave the company a "buy" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. upped their price objective on First Solar from $241.00 to $262.00 and gave the company an "overweight" rating in a research note on Friday. TD Cowen upped their price objective on First Solar from $220.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Finally, Guggenheim upped their price objective on First Solar from $202.00 to $287.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Two 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 issued a Sell rating to the company. Based on data from MarketBeat, First Solar has an average rating of "Moderate Buy" and a consensus target price of $228.80.

Insider Buying and Selling at First Solar

In other First Solar news, insider Patrick James Buehler sold 1,600 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total transaction of $288,000.00. Following the completion of the transaction, the insider directly owned 4,398 shares of the company's stock, valued at approximately $791,640. This trade represents a 26.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Nathan B. Theurer sold 686 shares of the stock in a transaction 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 ninety days, insiders sold 32,315 shares of company stock valued at $6,021,305. 0.48% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.