Empowered Funds LLC Grows Position in First Solar, Inc. $FSLR

Key Points

• Empowered Funds LLC increased its stake in First Solar, Inc. by 416.0%, acquiring a total of 74,857 shares valued at approximately $9.46 million.
• Insider transactions revealed CEO Mark R. Widmar sold 23,912 shares, representing a 21.37% decrease in his ownership, while other insiders have also reduced their stakes.
• First Solar's stock recently received multiple upgrades from brokerages, with price targets raised, indicating a positive outlook for the company amid strong quarterly earnings performance.

Empowered Funds LLC lifted its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 416.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 74,857 shares of the solar cell manufacturer's stock after purchasing an additional 60,350 shares during the quarter. Empowered Funds LLC owned 0.07% of First Solar worth $9,464,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Garde Capital Inc. bought a new stake in shares of First Solar during the 1st quarter valued at $25,000. Wealth Preservation Advisors LLC bought a new stake in shares of First Solar during the 1st quarter valued at $25,000. Larson Financial Group LLC raised its stake 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 valued at $32,000 after purchasing an additional 219 shares during the period. Colonial Trust Advisors bought a new stake in shares of First Solar during the 1st quarter valued at $32,000. Finally, Abound Financial LLC bought a new stake in shares of First Solar during the 1st quarter valued at $45,000. 92.08% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other First Solar news, CAO Nathan B. Theurer sold 686 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total value of $124,872.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark R. Widmar sold 2,321 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $199.44, for a total value of $462,900.24. Following the completion of the sale, the chief executive officer owned 81,861 shares of the company's stock, valued at approximately $16,326,357.84. This trade represents a 2.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,315 shares of company stock worth $6,021,305. 0.48% of the stock is currently owned by company insiders.

First Solar Trading Down 0.8%

FSLR traded down $1.61 on Friday, hitting $201.70. 1,238,781 shares of the company were exchanged, compared to its average volume of 3,216,098. The firm has a fifty day simple moving average of $187.50 and a two-hundred day simple moving average of $159.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $262.72. The stock has a market capitalization of $21.63 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 0.40 and a beta of 1.41.

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, 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 business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter last year, the business posted $3.25 EPS. The business's revenue was up 8.6% on a year-over-year basis. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Sell-side analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analysts Set New Price Targets

FSLR has been the subject of several recent analyst reports. Susquehanna boosted their target price on First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a research report on Friday, August 1st. BMO Capital Markets boosted their target price on First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. TD Cowen boosted their target price on First Solar from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. The Goldman Sachs Group boosted their target price on First Solar from $204.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Finally, Jefferies Financial Group set a $194.00 target price on First Solar and gave the stock a "buy" rating in a research report on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, First Solar currently has an average rating of "Moderate Buy" and an average target price of $225.84.

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.