Firsthand Capital Management Inc. Trims Stake in First Solar, Inc. $FSLR

Key Points

• Firsthand Capital Management Inc. sold 2,000 shares of First Solar, Inc., reducing its stake by 50% in the 1st quarter, with holdings valued at approximately $253,000, making it the company's 28th largest position.
• Other institutional investors like Cetera Investment Advisers and Oppenheimer & Co. Inc. increased their holdings significantly, reflecting strong interest in the solar manufacturer.
• First Solar reported strong quarterly earnings with a net margin of 28.95% and raised its fiscal year 2025 earnings per share guidance, indicating positive growth prospects.

Firsthand Capital Management Inc. lowered its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 50.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,000 shares of the solar cell manufacturer's stock after selling 2,000 shares during the period. First Solar comprises about 0.6% of Firsthand Capital Management Inc.'s holdings, making the stock its 28th largest position. Firsthand Capital Management Inc.'s holdings in First Solar were worth $253,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Garde Capital Inc. acquired a new position in First Solar in the 1st quarter valued at about $25,000. Wealth Preservation Advisors LLC acquired a new position in First Solar in the 1st quarter valued at about $25,000. Larson Financial Group LLC increased its position in First Solar by 591.9% in the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock valued at $32,000 after acquiring an additional 219 shares during the period. Colonial Trust Advisors acquired a new position in First Solar in the 1st quarter valued at about $32,000. Finally, Abound Financial LLC acquired a new position in First Solar in the 1st quarter valued at about $45,000. Institutional investors and hedge funds own 92.08% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on FSLR. Wall Street Zen upgraded First Solar from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Susquehanna boosted their price target on First Solar from $203.00 to $222.00 and gave the company a "positive" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. boosted their price target on First Solar from $200.00 to $208.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. TD Cowen boosted their price target on First Solar from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Glj Research restated a "buy" rating and issued a $214.06 price target (up previously from $172.53) on shares of First Solar in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $225.84.

First Solar Stock Performance

NASDAQ FSLR traded up $0.59 on Tuesday, hitting $195.78. 1,932,098 shares of the company's stock were exchanged, compared to its average volume of 3,219,378. The firm's 50-day moving average price is $181.63 and its two-hundred day moving average price is $156.80. The firm has a market cap of $21.00 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 0.39 and a beta of 1.41. 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 fifty-two week low of $116.56 and a fifty-two week high of $262.72.

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

Insider Transactions at First Solar

In other news, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Patrick James Buehler sold 1,600 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total value of $288,000.00. Following the sale, the insider directly owned 4,398 shares in the company, valued at $791,640. This trade represents a 26.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,315 shares of company stock valued at $6,021,305 in the last quarter. 0.48% of the stock is currently owned by corporate insiders.

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.