First Solar, Inc. $FSLR Shares Bought by Slow Capital Inc.

Key Points

• Slow Capital Inc. increased its stake in First Solar, Inc. by 11.9%, now owning nearly 49,000 shares valued at approximately $8.1 million.
• Multiple institutional investors, including Nuveen LLC and Canada Pension Plan Investment Board, have significantly boosted their positions in First Solar, contributing to institutional ownership of 92.08% of the company’s stock.
• First Solar reported a quarterly EPS of $3.18, surpassing analyst expectations, and set a FY 2025 guidance of earnings per share between 13.500-16.500.

Slow Capital Inc. raised its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 11.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,978 shares of the solar cell manufacturer's stock after buying an additional 5,221 shares during the period. First Solar comprises about 1.0% of Slow Capital Inc.'s holdings, making the stock its 25th largest holding. Slow Capital Inc.'s holdings in First Solar were worth $8,108,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FSLR. Nuveen LLC purchased a new stake in First Solar during the 1st quarter worth approximately $114,730,000. Canada Pension Plan Investment Board increased its position in shares of First Solar by 16,857.8% during the first quarter. Canada Pension Plan Investment Board now owns 759,033 shares of the solar cell manufacturer's stock worth $95,965,000 after acquiring an additional 754,557 shares during the period. Invesco Ltd. raised its stake in shares of 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 acquiring an additional 592,444 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in First Solar by 22,107.8% in the first quarter. Jones Financial Companies Lllp now owns 512,556 shares of the solar cell manufacturer's stock valued at $64,802,000 after purchasing an additional 510,248 shares during the period. Finally, Hill City Capital LP increased its holdings in 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 worth $171,313,000 after purchasing an additional 505,000 shares during the period. Hedge funds and other institutional investors own 92.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Jefferies Financial Group lifted their price objective on First Solar from $212.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday. Royal Bank Of Canada lifted their price target on shares of First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Glj Research reissued a "buy" rating and issued a $214.06 price objective (up from $172.53) on shares of First Solar in a research report on Tuesday, August 12th. Guggenheim lifted their price objective on shares of First Solar from $202.00 to $287.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Finally, Susquehanna upped their price objective on First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $229.52.

First Solar Stock Down 0.2%

Shares of NASDAQ FSLR opened at $229.57 on Tuesday. The business has a 50-day moving average price of $202.10 and a 200 day moving average price of $169.12. The stock has a market cap of $24.62 billion, a PE ratio of 19.64, a price-to-earnings-growth ratio of 0.45 and a beta of 1.38. 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 $235.87.

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

Insiders Place Their Bets

In related news, CEO Mark R. Widmar sold 2,321 shares of the firm'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 transaction, the chief executive officer owned 81,861 shares of the company's stock, valued at $16,326,357.84. This trade represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 shares were 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 quarter, insiders have sold 30,715 shares of company stock valued at $5,733,305. 0.48% of the stock is owned by company insiders.

About First Solar

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.

Want to see what other hedge funds are holding FSLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Solar, Inc. (NASDAQ:FSLR - Free Report).

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.