Interval Partners LP Raises Stock Holdings in First Solar, Inc. $FSLR

Key Points

• Interval Partners LP increased its stake in First Solar by 91.4%, owning 11,857 shares worth approximately $1.5 million as of the last reporting period.
• First Solar reported $3.18 earnings per share for the last quarter, exceeding analysts' expectations of $2.68, with revenue also surpassing estimates at $1.1 billion.
• Wall Street analysts gave First Solar a consensus rating of "Moderate Buy" with a price target averaging $225.84.

Interval Partners LP increased its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 91.4% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 11,857 shares of the solar cell manufacturer's stock after buying an additional 5,662 shares during the quarter. Interval Partners LP's holdings in First Solar were worth $1,499,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FSLR. Nuveen LLC bought a new stake in First Solar in the 1st quarter worth about $114,730,000. Canada Pension Plan Investment Board grew its stake in shares of First Solar by 16,857.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 759,033 shares of the solar cell manufacturer's stock valued at $95,965,000 after purchasing an additional 754,557 shares during the period. Invesco Ltd. grew its stake in shares of First Solar by 32.3% during the 1st 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. Hill City Capital LP grew its stake in shares of First Solar by 59.4% during the 1st quarter. Hill City Capital LP now owns 1,355,000 shares of the solar cell manufacturer's stock valued at $171,313,000 after purchasing an additional 505,000 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of First Solar by 17.2% during 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 purchasing an additional 405,457 shares during the period. 92.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FSLR has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on First Solar from $200.00 to $208.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Susquehanna boosted their price target on First Solar from $203.00 to $222.00 and gave the company a "positive" rating in a research note on Friday, August 1st. Glj Research restated a "buy" rating and set a $214.06 price target (up from $172.53) on shares of First Solar in a research note on Tuesday, August 12th. UBS Group reaffirmed a "buy" rating and set a $275.00 price objective (up from $255.00) on shares of First Solar in a research report on Tuesday, August 5th. Finally, Mizuho lifted their price objective on First Solar from $275.00 to $278.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Two investment 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 issued a Sell rating to the company. According to data from MarketBeat.com, First Solar currently has a consensus rating of "Moderate Buy" and a consensus price target of $225.84.

Insider Buying and Selling

In related news, insider Patrick James Buehler sold 1,600 shares of the business'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 transaction, the insider directly owned 4,398 shares of the company's stock, valued at approximately $791,640. The trade was a 26.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Nathan B. Theurer sold 686 shares of the company's 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 disclosure for this sale can be found here. In the last three months, insiders have sold 32,315 shares of company stock valued at $6,021,305. Corporate insiders own 0.48% of the company's stock.

First Solar Price Performance

NASDAQ FSLR traded up $3.76 during trading hours on Thursday, reaching $207.55. The company's stock had a trading volume of 636,174 shares, compared to its average volume of 3,730,948. The firm's 50-day moving average price is $186.81 and its 200-day moving average price is $158.58. 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 1 year low of $116.56 and a 1 year high of $262.72. The company has a market capitalization of $22.26 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 0.40 and a beta of 1.41.

First Solar (NASDAQ:FSLR - Get Free Report) last posted 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. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the previous year, the firm earned $3.25 EPS. The firm's revenue was up 8.6% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, equities research analysts predict 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.