E. Ohman J or Asset Management AB Sells 103,727 Shares of First Solar, Inc. $FSLR

Key Points

• E. Ohman J or Asset Management AB sold 103,727 shares of First Solar, Inc., reducing its stake by 42.5% and retaining approximately 0.13% ownership valued at $23.26 million.
• Major investors like Harvest Portfolios Group and Energy Income Partners have increased their holdings in First Solar, with institutional investors owning 92.08% of the company.
• Analysts have recently raised their price targets for First Solar, with a consensus target of $225.84 and an average rating of "Moderate Buy."

E. Ohman J or Asset Management AB lessened its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 42.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,491 shares of the solar cell manufacturer's stock after selling 103,727 shares during the period. E. Ohman J or Asset Management AB owned about 0.13% of First Solar worth $23,257,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. increased its holdings in First Solar by 3.9% during the 1st quarter. Harvest Portfolios Group Inc. now owns 1,658 shares of the solar cell manufacturer's stock worth $210,000 after purchasing an additional 63 shares in the last quarter. Legend Financial Advisors Inc. increased its holdings in First Solar by 1.4% during the 1st quarter. Legend Financial Advisors Inc. now owns 4,726 shares of the solar cell manufacturer's stock worth $598,000 after purchasing an additional 64 shares in the last quarter. Energy Income Partners LLC increased its holdings in First Solar by 0.8% during the 1st quarter. Energy Income Partners LLC now owns 9,257 shares of the solar cell manufacturer's stock worth $1,170,000 after purchasing an additional 72 shares in the last quarter. Horizon Investments LLC increased its holdings in First Solar by 5.1% during the 1st quarter. Horizon Investments LLC now owns 1,537 shares of the solar cell manufacturer's stock worth $194,000 after purchasing an additional 74 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of First Solar by 5.3% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,582 shares of the solar cell manufacturer's stock valued at $200,000 after acquiring an additional 80 shares in the last quarter. Institutional investors own 92.08% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FSLR shares. JPMorgan Chase & Co. raised their price objective on First Solar from $200.00 to $208.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. TD Cowen raised their price objective on First Solar from $200.00 to $220.00 and gave the company a "buy" rating in a report on Friday, August 1st. Guggenheim raised their price objective on First Solar from $202.00 to $287.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Mizuho raised their price objective on First Solar from $275.00 to $278.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Finally, Glj Research restated a "buy" rating and issued a $214.06 price objective (up previously from $172.53) on shares of First Solar in a report on Tuesday, August 12th. Two investment 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's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $225.84.

First Solar Stock Down 0.8%

Shares of FSLR opened at $201.70 on Monday. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $262.72. The firm's 50 day moving average is $187.50 and its 200-day moving average is $159.44. The stock has a market capitalization of $21.63 billion, a PE ratio of 17.25, a P/E/G ratio of 0.40 and a beta of 1.41. 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 EPS for the quarter, topping the consensus estimate of $2.68 by $0.50. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the firm earned $3.25 earnings per share. The business'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. Equities research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity at First Solar

In related news, insider Patrick James Buehler sold 1,600 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $180.00, for a total value of $288,000.00. Following the sale, the insider owned 4,398 shares of the company's stock, valued at $791,640. The trade was a 26.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders have sold 32,315 shares of company stock valued at $6,021,305 over the last three months. 0.48% of the stock is owned by insiders.

About First Solar

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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