First Solar, Inc. $FSLR Shares Purchased by FORA Capital LLC

Key Points

• FORA Capital LLC significantly increased its stake in First Solar, Inc. by 964.0%, acquiring a total of 35,845 shares valued at approximately $4.5 million by the end of the first quarter.
• First Solar's stock has seen a 1.4% decline recently, with a current market capitalization of $21.39 billion and a P/E ratio of 17.06.
• The company reported earnings of $3.18 EPS for the last quarter, surpassing estimates, while revenue increased by 8.6% year-over-year, reaching $1.10 billion.

FORA Capital LLC boosted its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 964.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,845 shares of the solar cell manufacturer's stock after purchasing an additional 32,476 shares during the quarter. FORA Capital LLC's holdings in First Solar were worth $4,532,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in FSLR. Harvest Portfolios Group Inc. grew its holdings in First Solar by 3.9% in the 1st quarter. Harvest Portfolios Group Inc. now owns 1,658 shares of the solar cell manufacturer's stock valued at $210,000 after buying an additional 63 shares in the last quarter. Orion Capital Management LLC grew its holdings in shares of First Solar by 31.5% during the 1st quarter. Orion Capital Management LLC now owns 5,050 shares of the solar cell manufacturer's stock worth $638,000 after purchasing an additional 1,210 shares during the period. Quantitative Investment Management LLC grew its holdings in shares of First Solar by 1,714.0% during the 1st quarter. Quantitative Investment Management LLC now owns 45,460 shares of the solar cell manufacturer's stock worth $5,747,000 after purchasing an additional 42,954 shares during the period. Legend Financial Advisors Inc. grew its holdings in shares of First Solar by 1.4% during the 1st quarter. Legend Financial Advisors Inc. now owns 4,726 shares of the solar cell manufacturer's stock worth $598,000 after purchasing an additional 64 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of First Solar by 177.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 12,534 shares of the solar cell manufacturer's stock worth $1,585,000 after purchasing an additional 8,014 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at First Solar

In related news, CEO Mark R. Widmar sold 23,912 shares of First Solar stock in a transaction on 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 transaction, the chief executive officer directly owned 87,978 shares of the company's stock, valued at approximately $16,317,279.66. The trade was a 21.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Patrick James Buehler sold 1,868 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $149.08, for a total value of $278,481.44. Following the completion of the transaction, the insider directly owned 5,998 shares of the company's stock, valued at approximately $894,181.84. This trade represents a 23.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,134 shares of company stock valued at $6,766,664. Company insiders own 0.48% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FSLR shares. Mizuho increased their price target on First Solar from $275.00 to $278.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Wall Street Zen upgraded First Solar from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. raised their target price on First Solar from $200.00 to $208.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. UBS Group restated a "buy" rating and set a $275.00 target price (up from $255.00) on shares of First Solar in a report on Tuesday, August 5th. Finally, Guggenheim raised their target price on First Solar from $202.00 to $287.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $225.84.

First Solar Stock Performance

NASDAQ:FSLR traded down $1.83 during mid-day trading on Friday, reaching $195.19. 1,397,034 shares of the stock were exchanged, compared to its average volume of 3,547,256. The company has a 50 day simple moving average of $179.73 and a 200-day simple moving average of $156.31. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $262.72. The stock has a market capitalization of $20.93 billion, a P/E ratio of 16.70, a P/E/G ratio of 0.39 and a beta of 1.48. 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 (NASDAQ:FSLR - Get Free Report) last announced its earnings results 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 company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the business posted $3.25 EPS. The company's revenue was up 8.6% on a year-over-year basis. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

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.