First Solar, Inc. $FSLR Shares Sold by Beech Hill Advisors Inc.

Key Points

• Beech Hill Advisors Inc. reduced its stake in First Solar, Inc. by 19.5%, owning 21,574 shares after selling 5,242 shares in the second quarter, with the position valued at approximately $3.57 million.
• First Solar reported better-than-expected financial results for the second quarter, with earnings per share of $3.18 and revenue of $1.10 billion, exceeding analysts' estimates.
• Several brokerages upgraded their ratings on First Solar, with JPMorgan Chase raising its price target from $262.00 to $278.00 and maintaining an "overweight" rating.

Beech Hill Advisors Inc. lowered its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 19.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,574 shares of the solar cell manufacturer's stock after selling 5,242 shares during the quarter. First Solar makes up about 1.6% of Beech Hill Advisors Inc.'s holdings, making the stock its 22nd biggest position. Beech Hill Advisors Inc.'s holdings in First Solar were worth $3,571,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in FSLR. TD Private Client Wealth LLC boosted its stake in shares of First Solar by 126.9% during the second quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer's stock valued at $25,000 after acquiring an additional 85 shares during the last quarter. Harbor Investment Advisory LLC increased its stake in First Solar by 138.9% in the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer's stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Garde Capital Inc. purchased a new position in First Solar during the first quarter worth about $25,000. Wealth Preservation Advisors LLC acquired a new stake in First Solar in the 1st quarter worth about $25,000. Finally, First Pacific Financial purchased a new stake in First Solar in the 2nd quarter valued at about $41,000. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Trading Down 1.2%

NASDAQ:FSLR opened at $229.00 on Tuesday. The business has a 50 day simple moving average of $211.82 and a 200 day simple moving average of $176.28. The firm has a market capitalization of $24.56 billion, a P/E ratio of 19.59, a P/E/G ratio of 0.44 and a beta of 1.38. 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, Inc. has a 12-month low of $116.56 and a 12-month high of $248.04.

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 the consensus estimate of $2.68 by $0.50. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. First Solar's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Equities research analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Nathan B. Theurer sold 686 shares of First Solar stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark R. Widmar sold 23,912 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the completion of the sale, the chief executive officer directly owned 87,978 shares of the company's stock, valued at $16,317,279.66. The trade was a 21.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,715 shares of company stock worth $5,733,305 over the last three months. Corporate insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FSLR. Wall Street Zen upgraded shares of First Solar from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Weiss Ratings reissued a "hold (c)" rating on shares of First Solar in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on shares of First Solar from $262.00 to $278.00 and gave the company an "overweight" rating in a report on Thursday, October 16th. UBS Group reiterated a "buy" rating and issued a $275.00 price target (up from $255.00) on shares of First Solar in a report on Tuesday, August 5th. Finally, Jefferies Financial Group boosted their price objective on First Solar from $212.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $242.32.

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.

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