Fifth Third Bancorp Has $773,000 Stock Position in First Solar, Inc. $FSLR

Key Points

• Fifth Third Bancorp increased its holdings in First Solar, Inc. by 67.5% during the 2nd quarter, owning a total of 4,667 shares valued at approximately $773,000 as of its latest SEC filing.
• Analysts have revised their price targets for First Solar, with Guggenheim raising theirs from $202 to $287, contributing to an average target price of $228.80 and a consensus rating of "Moderate Buy."
• First Solar reported strong quarterly earnings with $3.18 EPS, exceeding expectations, and revenue of $1.10 billion, highlighting an 8.6% year-over-year growth.

Fifth Third Bancorp raised its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 67.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,667 shares of the solar cell manufacturer's stock after acquiring an additional 1,881 shares during the period. Fifth Third Bancorp's holdings in First Solar were worth $773,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Garde Capital Inc. bought a new stake in shares of First Solar in the 1st quarter valued at approximately $25,000. Wealth Preservation Advisors LLC bought a new stake in shares of First Solar in the 1st quarter valued at approximately $25,000. Harbor Investment Advisory LLC grew its stake in shares of First Solar by 138.9% in the 2nd quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer's stock valued at $28,000 after purchasing an additional 100 shares during the period. Larson Financial Group LLC grew its stake in shares of First Solar by 591.9% in 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. Finally, Colonial Trust Advisors bought a new stake in shares of First Solar in the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 92.08% of the company's stock.

Analysts Set New Price Targets

FSLR has been the topic of several analyst reports. 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. Bank of America upped their price objective on First Solar from $185.00 to $201.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Glj Research reiterated a "buy" rating and issued a $214.06 price objective (up from $172.53) on shares of First Solar in a research note on Tuesday, August 12th. Royal Bank Of Canada upped their price objective on First Solar from $188.00 to $200.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Finally, Mizuho upped their price objective on First Solar from $275.00 to $278.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Two equities research 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 assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $228.80.

First Solar Stock Down 1.4%

NASDAQ FSLR opened at $220.02 on Monday. The firm has a market cap of $23.60 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40. First Solar, Inc. has a one year low of $116.56 and a one year high of $262.72. The stock's 50 day simple moving average is $196.64 and its 200 day simple moving average is $165.07. 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 released its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, sell-side analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other First Solar news, CAO Nathan B. Theurer sold 686 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total value of $124,872.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Patrick James Buehler sold 1,600 shares of the 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 completion of the transaction, the insider owned 4,398 shares in the company, valued at $791,640. The trade was a 26.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,315 shares of company stock worth $6,021,305. Insiders own 0.48% of the company's stock.

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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