First Solar, Inc. $FSLR Shares Bought by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC increased its stake in First Solar by 33.5%, owning 12,990 shares valued at approximately $1.64 million as of the latest reporting period.
• First Solar reported a Q2 earnings per share (EPS) of $3.18, exceeding the consensus estimate of $2.68, along with an 8.6% year-over-year revenue growth.
• Several analysts have raised their price targets for First Solar, with an average target price now at $225.84, reflecting a generally positive outlook for the company's stock.

NewEdge Advisors LLC boosted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 33.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,990 shares of the solar cell manufacturer's stock after acquiring an additional 3,257 shares during the period. NewEdge Advisors LLC's holdings in First Solar were worth $1,642,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position 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 worth $1,668,919,000 after acquiring an additional 378,641 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of First Solar by 17.2% during the first quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer's stock worth $349,617,000 after buying an additional 405,457 shares in the last quarter. Invesco Ltd. grew its holdings in shares of First Solar by 32.3% during the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer's stock worth $306,909,000 after buying an additional 592,444 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of First Solar by 9.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,450,914 shares of the solar cell manufacturer's stock worth $255,709,000 after buying an additional 120,239 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of First Solar by 12.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,402,357 shares of the solar cell manufacturer's stock worth $177,295,000 after buying an additional 152,757 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Price Performance

FSLR opened at $201.70 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. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $262.72. The company has a 50 day moving average of $187.50 and a two-hundred day moving average of $159.30. The company has a market cap of $21.63 billion, a P/E ratio of 17.25, a P/E/G ratio of 0.40 and a beta of 1.41.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.50. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm earned $3.25 earnings per share. First Solar's revenue for the quarter was up 8.6% on a year-over-year basis. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insiders Place Their Bets

In other First Solar news, CEO Mark R. Widmar sold 2,321 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $199.44, for a total transaction of $462,900.24. Following the completion of the sale, the chief executive officer directly owned 81,861 shares in the company, valued at $16,326,357.84. The trade was a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Nathan B. Theurer sold 686 shares of the business'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 transaction of $124,872.58. The disclosure for this sale can be found here. Insiders sold a total of 32,315 shares of company stock worth $6,021,305 over the last ninety days. 0.48% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of First Solar from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of First Solar from $200.00 to $208.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Susquehanna lifted 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. Mizuho lifted their price target on shares of First Solar from $275.00 to $278.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Finally, The Goldman Sachs Group lifted their price target on shares of First Solar from $204.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, First Solar presently has an average rating of "Moderate Buy" and an average target price of $225.84.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.