Czech National Bank Boosts Holdings in First Solar, Inc. $FSLR

Key Points

• The Czech National Bank increased its holdings in First Solar, Inc. by 6.6%, acquiring an additional 1,625 shares to bring its total ownership to 26,214 shares valued at approximately $4.34 million.
• First Solar reported quarterly earnings of $3.18 per share for July 31, exceeding analysts' estimates of $2.68, with a revenue of $1.10 billion, up 8.6% from the previous year.
• Analysts have given First Solar a consensus rating of "Moderate Buy", with several raising their price targets, indicating strong market expectations for the company's future performance.

Czech National Bank grew its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 6.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,214 shares of the solar cell manufacturer's stock after purchasing an additional 1,625 shares during the quarter. Czech National Bank's holdings in First Solar were worth $4,339,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Garde Capital Inc. acquired a new position in shares of First Solar during the 1st quarter valued at $25,000. Wealth Preservation Advisors LLC bought a new position in First Solar in the first quarter worth approximately $25,000. Harbor Investment Advisory LLC grew its stake in First Solar by 138.9% in the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer's stock valued at $28,000 after acquiring an additional 100 shares during the period. Larson Financial Group LLC increased its holdings in shares of First Solar by 591.9% during the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock valued at $32,000 after acquiring an additional 219 shares in the last quarter. Finally, Colonial Trust Advisors acquired a new position in shares of First Solar during the first quarter worth approximately $32,000. Institutional investors and hedge funds own 92.08% of the company's stock.

Insider Activity

In other First Solar news, CEO Mark R. Widmar sold 23,912 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total value of $4,434,958.64. Following the completion of the transaction, the chief executive officer directly owned 87,978 shares in the company, valued at $16,317,279.66. This represents a 21.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Patrick James Buehler sold 1,600 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $791,640. This trade represents a 26.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,315 shares of company stock valued at $6,021,305 in the last ninety days. Corporate insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. BMO Capital Markets upped their price objective on shares of First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Mizuho raised their price target on shares of First Solar from $275.00 to $278.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Hsbc Global Res raised First Solar to a "strong-buy" rating in a report on Friday, August 1st. 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 note on Tuesday, July 1st. Finally, JPMorgan Chase & Co. increased their price objective on First Solar from $241.00 to $262.00 and gave the stock an "overweight" rating in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, First Solar currently has a consensus rating of "Moderate Buy" and an average price target of $228.80.

First Solar Trading Up 1.4%

Shares of NASDAQ FSLR traded up $2.86 during trading hours on Friday, hitting $212.49. The company's stock had a trading volume of 3,858,347 shares, compared to its average volume of 2,052,274. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $262.72. The stock has a market cap of $22.79 billion, a price-to-earnings ratio of 18.18, a P/E/G ratio of 0.41 and a beta of 1.41. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The business has a 50-day simple moving average of $191.68 and a 200-day simple moving average of $161.73.

First Solar (NASDAQ:FSLR - Get Free Report) last announced 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 company had revenue of $1.10 billion during 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%.The firm's revenue was up 8.6% on a year-over-year basis. During the same quarter 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 earnings per share for the current fiscal year.

First Solar Company 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.