Ellsworth Advisors LLC Makes New $846,000 Investment in First Solar, Inc. $FSLR

Key Points

• Ellsworth Advisors LLC made a new investment in First Solar, Inc., acquiring 6,689 shares valued at approximately $846,000 during the first quarter.
• Following the investment, institutional investors now own 92.08% of First Solar's stock, indicating significant confidence in the company among large stakeholders.
• First Solar recently reported earnings of $3.18 per share, exceeding analyst expectations, and set FY 2025 guidance at 13.500-16.500 EPS.

Ellsworth Advisors LLC acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,689 shares of the solar cell manufacturer's stock, valued at approximately $846,000.

Several other large investors have also recently added to or reduced their stakes in FSLR. EP Wealth Advisors LLC increased its position in First Solar by 7.9% during the 4th quarter. EP Wealth Advisors LLC now owns 1,293 shares of the solar cell manufacturer's stock worth $228,000 after buying an additional 95 shares during the period. Ensign Peak Advisors Inc increased its position in First Solar by 1.3% during the 4th quarter. Ensign Peak Advisors Inc now owns 36,216 shares of the solar cell manufacturer's stock worth $6,383,000 after buying an additional 480 shares during the period. Focus Partners Wealth increased its position in First Solar by 102.2% during the 4th quarter. Focus Partners Wealth now owns 4,601 shares of the solar cell manufacturer's stock worth $855,000 after buying an additional 2,326 shares during the period. Gotham Asset Management LLC increased its position in First Solar by 25.6% during the 4th quarter. Gotham Asset Management LLC now owns 3,018 shares of the solar cell manufacturer's stock worth $532,000 after buying an additional 616 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC increased its position in First Solar by 6.8% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 9,466 shares of the solar cell manufacturer's stock worth $1,668,000 after buying an additional 602 shares during the period. Institutional investors own 92.08% of the company's stock.

Insider Activity at First Solar

In related news, insider Patrick James Buehler sold 1,600 shares of the firm's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total value of $288,000.00. Following the sale, the insider directly owned 4,398 shares of the company's stock, valued at $791,640. This trade represents a 26.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Nathan B. Theurer sold 686 shares of the firm's stock in a transaction dated 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. Insiders have sold 32,315 shares of company stock valued at $6,021,305 over the last ninety days. 0.48% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FSLR has been the topic of several recent research reports. Royal Bank Of Canada increased their price objective on First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. UBS Group reissued a "buy" rating and set a $275.00 target price (up from $255.00) on shares of First Solar in a report on Tuesday, August 5th. JPMorgan Chase & Co. increased their target price on First Solar from $200.00 to $208.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Glj Research reissued a "buy" rating and set a $214.06 target price (up from $172.53) on shares of First Solar in a report on Tuesday, August 12th. Finally, Jefferies Financial Group set a $194.00 target price on First Solar and gave the stock a "buy" rating in a report on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $225.84.

First Solar Stock Performance

NASDAQ:FSLR opened at $203.79 on Thursday. The stock's 50-day simple moving average is $186.81 and its 200 day simple moving average is $158.58. The firm has a market capitalization of $21.86 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 0.40 and a beta of 1.41. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.First Solar's revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, analysts anticipate 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.

Want to see what other hedge funds are holding FSLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Solar, Inc. (NASDAQ:FSLR - Free Report).

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.