First Solar, Inc. $FSLR Shares Acquired by Perpetual Ltd

Key Points

• Perpetual Ltd increased its ownership in First Solar, Inc. by 172.9% during Q2, acquiring a total of 10,680 shares now valued at $1.77 million.
• First Solar reported $3.18 EPS for the last quarter, exceeding estimates of $2.68, with revenue reaching $1.10 billion, up 8.6% year-over-year.
• The company's stock price has been given a Moderate Buy rating by analysts, with a consensus target price of $228.80.

Perpetual Ltd boosted its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 172.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,680 shares of the solar cell manufacturer's stock after buying an additional 6,767 shares during the quarter. Perpetual Ltd's holdings in First Solar were worth $1,768,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in First Solar by 3.0% during the first quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer's stock valued at $1,668,919,000 after acquiring an additional 378,641 shares during the period. Wellington Management Group LLP boosted its position in First Solar by 17.2% in the 1st quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer's stock valued at $349,617,000 after buying an additional 405,457 shares during the period. Invesco Ltd. increased its stake in First Solar by 32.3% in the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer's stock valued at $306,909,000 after purchasing an additional 592,444 shares during the period. Samlyn Capital LLC grew its position in First Solar by 6.3% during the first quarter. Samlyn Capital LLC now owns 1,741,794 shares of the solar cell manufacturer's stock worth $220,215,000 after buying an additional 103,403 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of First Solar by 20.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,741,026 shares of the solar cell manufacturer's stock worth $220,118,000 after acquiring an additional 290,112 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

First Solar Price Performance

First Solar stock traded up $2.86 during mid-day trading on Friday, hitting $212.49. 3,858,347 shares of the company traded hands, compared to its average volume of 2,023,652. 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 one year low of $116.56 and a one year high of $262.72. The stock has a market cap of $22.79 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. The stock has a fifty day moving average price of $191.68 and a 200-day moving average price of $162.16.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.50. The business 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%.First Solar's revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, equities analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Mizuho lifted their target price on shares of First Solar from $275.00 to $278.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. TD Cowen lifted their price objective on shares of First Solar from $220.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Susquehanna raised their price target on shares of First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a report on Friday, August 1st. BMO Capital Markets lifted their price objective on First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, Jefferies Financial Group set a $194.00 target price on First Solar and gave the company a "buy" rating in a research note on Tuesday, July 15th. Two research 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $228.80.

Insider Buying and Selling at First Solar

In related news, CAO Nathan B. Theurer sold 686 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark R. Widmar sold 2,321 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $199.44, for a total transaction of $462,900.24. Following the sale, the chief executive officer directly owned 81,861 shares in the company, valued at $16,326,357.84. This trade represents a 2.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,315 shares of company stock worth $6,021,305 over the last ninety days. Company 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.