DekaBank Deutsche Girozentrale Boosts Stake in First Solar, Inc. $FSLR

Key Points

• DekaBank Deutsche Girozentrale increased its stake in First Solar by 4.0%, owning 524,203 shares valued at approximately $83.99 million after acquiring an additional 20,025 shares.
• Analysts have upgraded their ratings on First Solar, with Bank of America raising its price target significantly from $209.00 to $254.00, reflecting strong investor confidence.
• First Solar reported better-than-expected earnings of $3.18 per share for the last quarter, surpassing forecasts by $0.50 and achieving a year-over-year revenue increase of 8.6%.

DekaBank Deutsche Girozentrale boosted its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 4.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 524,203 shares of the solar cell manufacturer's stock after acquiring an additional 20,025 shares during the period. DekaBank Deutsche Girozentrale owned about 0.49% of First Solar worth $83,997,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in FSLR. Wealth Preservation Advisors LLC purchased a new stake in First Solar in the 1st quarter valued at about $25,000. TD Private Client Wealth LLC raised its holdings in shares of First Solar by 126.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer's stock worth $25,000 after purchasing an additional 85 shares during the period. Harbor Investment Advisory LLC grew its holdings in shares of First Solar by 138.9% during the 2nd quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer's stock worth $28,000 after purchasing an additional 100 shares during the period. Larson Financial Group LLC grew its holdings 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 worth $32,000 after purchasing an additional 219 shares during the period. Finally, Colonial Trust Advisors purchased a new stake in shares of First Solar during the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 92.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Glj Research restated a "buy" rating and issued a $214.06 price target (up previously from $172.53) on shares of First Solar in a report on Tuesday, August 12th. Bank of America boosted their price target on First Solar from $209.00 to $254.00 and gave the stock a "buy" rating in a research note on Wednesday, October 15th. Wall Street Zen raised First Solar from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Robert W. Baird lifted their price objective on First Solar from $240.00 to $264.00 and gave the stock an "outperform" rating in a report on Monday, October 13th. Finally, Jefferies Financial Group increased their target price on First Solar from $212.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $242.32.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $226.85 on Wednesday. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $248.04. The company has a market cap of $24.33 billion, a PE ratio of 19.41, a P/E/G ratio of 0.44 and a beta of 1.38. The stock has a 50 day simple moving average of $212.66 and a 200-day simple moving average of $176.63. 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 (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share 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 for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the business earned $3.25 EPS. The firm'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 forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity

In other First Solar news, CAO Nathan B. Theurer sold 686 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark R. Widmar sold 23,912 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the completion of the transaction, the chief executive officer owned 87,978 shares of the company's stock, valued at $16,317,279.66. This trade represents a 21.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,715 shares of company stock worth $5,733,305. 0.48% of the stock is owned by corporate insiders.

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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