Hill City Capital LP Raises Stock Holdings in First Solar, Inc. $FSLR

Key Points

• Hill City Capital LP increased its stake in First Solar, Inc. by 59.4% during the first quarter, holding approximately 1.26% of the company's stock, valued at about $171.3 million.
• First Solar reported $3.18 earnings per share for the latest quarter, exceeding analysts' expectations of $2.68, with a net margin of 28.95% and revenue of $1.10 billion.
• The company's stock has seen a consensus rating of "Moderate Buy" from analysts, with an average price target of $225.84.

Hill City Capital LP lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 59.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,355,000 shares of the solar cell manufacturer's stock after acquiring an additional 505,000 shares during the quarter. First Solar makes up about 12.8% of Hill City Capital LP's portfolio, making the stock its 3rd biggest holding. Hill City Capital LP owned 1.26% of First Solar worth $171,313,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FSLR. Garde Capital Inc. bought a new position in shares of First Solar during the 1st quarter worth approximately $25,000. Larson Financial Group LLC boosted its stake in shares of First Solar by 591.9% during the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock worth $32,000 after acquiring an additional 219 shares during the period. Colonial Trust Advisors bought a new position in shares of First Solar during the 1st quarter worth approximately $32,000. Abound Financial LLC bought a new position in shares of First Solar during the 1st quarter worth approximately $45,000. Finally, Princeton Global Asset Management LLC bought a new position in shares of First Solar during the 1st quarter worth approximately $51,000. 92.08% of the stock is currently owned by institutional investors.

First Solar Price Performance

NASDAQ FSLR traded down $1.83 during midday trading on Friday, hitting $195.19. The company had a trading volume of 1,397,034 shares, compared to its average volume of 3,547,256. The company has a market capitalization of $20.93 billion, a PE ratio of 16.70, a P/E/G ratio of 0.39 and a beta of 1.48. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $179.73 and a 200-day moving average price of $156.33. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last announced 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. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the previous year, the firm earned $3.25 EPS. The company'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. As a group, analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Michael Koralewski sold 2,951 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total transaction of $466,877.71. Following the completion of the transaction, the insider 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark R. Widmar sold 23,912 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total value of $4,434,958.64. Following the transaction, the chief executive officer directly owned 87,978 shares of the company's stock, valued at $16,317,279.66. This trade represents a 21.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,134 shares of company stock worth $6,766,664 over the last 90 days. Corporate insiders own 0.48% of the company's stock.

Analyst Ratings Changes

FSLR has been the subject of several research reports. Hsbc Global Res raised First Solar to a "strong-buy" rating in a report on Friday, August 1st. Glj Research reissued a "buy" rating and set a $214.06 price target (up from $172.53) on shares of First Solar in a report on Tuesday, August 12th. Susquehanna lifted their price target on First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a report on Friday, August 1st. JPMorgan Chase & Co. lifted their price target on First Solar from $200.00 to $208.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Finally, TD Cowen lifted their price target on First Solar from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, First Solar has a consensus rating of "Moderate Buy" and an average price target of $225.84.

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.