First Solar, Inc. $FSLR Shares Bought by Lazard Freres Gestion S.A.S.

Lazard Freres Gestion S.A.S. grew its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 77.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,390 shares of the solar cell manufacturer's stock after acquiring an additional 2,350 shares during the quarter. Lazard Freres Gestion S.A.S.'s holdings in First Solar were worth $892,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of First Solar by 25.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,677 shares of the solar cell manufacturer's stock valued at $971,000 after buying an additional 1,543 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of First Solar by 226.5% in the first quarter. Janney Montgomery Scott LLC now owns 21,264 shares of the solar cell manufacturer's stock valued at $2,688,000 after buying an additional 14,751 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of First Solar in the first quarter valued at about $392,000. Oppenheimer & Co. Inc. grew its stake in shares of First Solar by 396.5% in the first quarter. Oppenheimer & Co. Inc. now owns 11,777 shares of the solar cell manufacturer's stock valued at $1,489,000 after buying an additional 9,405 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in shares of First Solar by 7.1% in the first quarter. Asset Management One Co. Ltd. now owns 48,722 shares of the solar cell manufacturer's stock valued at $6,160,000 after buying an additional 3,226 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on FSLR shares. Jefferies Financial Group increased their target price on First Solar from $212.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Mizuho raised 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. UBS Group restated a "buy" rating and set a $275.00 price objective (up previously from $255.00) on shares of First Solar in a research note on Tuesday, August 5th. Royal Bank Of Canada raised their price objective on First Solar from $201.00 to $244.00 and gave the company an "outperform" rating in a research note on Monday. Finally, Glj Research restated a "buy" rating and set a $214.06 price objective (up previously from $172.53) on shares of First Solar in a research note on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $244.43.

Insider Activity at First Solar

In related news, CEO Mark R. Widmar sold 2,321 shares of the firm's 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Nathan B. Theurer sold 686 shares of the firm'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 sold 30,715 shares of company stock worth $5,733,305. Company insiders own 0.48% of the company's stock.

First Solar Trading Up 2.5%

NASDAQ:FSLR opened at $229.00 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. The business's 50 day moving average is $214.41 and its two-hundred day moving average is $177.63. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $248.04. The company has a market cap of $24.56 billion, a PE ratio of 19.59, a P/E/G ratio of 0.42 and a beta of 1.38.

First Solar (NASDAQ:FSLR - Get Free Report) last released its 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 the consensus estimate of $1.03 billion. During the same quarter last year, the business posted $3.25 EPS. First Solar's quarterly 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, analysts predict that First Solar, Inc. will post 13.05 EPS for the current 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.

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