First Solar, Inc. $FSLR Shares Bought by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. increased its ownership of First Solar, Inc. shares by 52.5% in the first quarter, acquiring an additional 238,946 shares.
• Several institutional investors have also boosted their holdings in First Solar, with 92.08% of the company's stock now owned by institutional investors and hedge funds.
• Analysts have varying ratings for First Solar, with an average price target of $225.84 and the stock rated as a "Moderate Buy."

Price T Rowe Associates Inc. MD boosted its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 52.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 693,655 shares of the solar cell manufacturer's stock after acquiring an additional 238,946 shares during the period. Price T Rowe Associates Inc. MD owned about 0.65% of First Solar worth $87,700,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FSLR. Capital Analysts LLC grew its holdings in First Solar by 22.4% during the 4th quarter. Capital Analysts LLC now owns 706 shares of the solar cell manufacturer's stock worth $124,000 after acquiring an additional 129 shares in the last quarter. Boothbay Fund Management LLC grew its holdings in First Solar by 87.0% during the 4th quarter. Boothbay Fund Management LLC now owns 1,522 shares of the solar cell manufacturer's stock worth $268,000 after acquiring an additional 708 shares in the last quarter. Decade Renewable Partners LP grew its holdings in First Solar by 259.5% during the 4th quarter. Decade Renewable Partners LP now owns 65,421 shares of the solar cell manufacturer's stock worth $11,530,000 after acquiring an additional 47,221 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in First Solar by 0.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 80,687 shares of the solar cell manufacturer's stock worth $14,225,000 after acquiring an additional 416 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of First Solar by 30.7% during the 4th quarter. Northern Trust Corp now owns 1,248,552 shares of the solar cell manufacturer's stock worth $220,045,000 after buying an additional 293,134 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. TD Cowen boosted their price objective on shares of First Solar from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. 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 report on Tuesday, August 5th. KeyCorp downgraded shares of First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price objective for the company. in a research report on Wednesday, April 30th. Susquehanna boosted their price objective on shares of First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company reduced their price objective on shares of First Solar from $191.00 to $177.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $225.84.

First Solar Stock Down 1.4%

FSLR stock opened at $199.44 on Tuesday. The company has a fifty day moving average price of $175.65 and a 200 day moving average price of $155.33. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $262.72. The company has a market cap of $21.39 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 0.40 and a beta of 1.48. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating 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 firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $3.25 EPS. 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. Sell-side analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Transactions at First Solar

In other First Solar news, insider Michael Koralewski sold 2,951 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $158.21, for a total value of $466,877.71. Following the transaction, the insider directly owned 11,369 shares of the company's stock, valued at approximately $1,798,689.49. The trade was a 20.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Patrick James Buehler sold 1,600 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total transaction of $288,000.00. Following the transaction, the insider 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 disclosure for this sale can be found here. Insiders have sold 46,691 shares of company stock worth $8,248,477 over the last 90 days. Company insiders own 0.48% of the company's stock.

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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