Fort Washington Investment Advisors Inc. OH Purchases Shares of 1,419 First Solar, Inc. $FSLR

Key Points

• Fort Washington Investment Advisors Inc. acquired 1,419 shares of First Solar, Inc. valued at around $235,000 during the 2nd quarter.
• First Solar's recent earnings report showed an increase in revenue to $1.10 billion, with $3.18 EPS exceeding analysts' expectations by $0.50.
• Analysts have raised First Solar's price targets, with a consensus price target now at $228.80, reflecting a strong market sentiment for the stock.

Fort Washington Investment Advisors Inc. OH acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,419 shares of the solar cell manufacturer's stock, valued at approximately $235,000.

A number of other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in First Solar by 3.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,134 shares of the solar cell manufacturer's stock worth $1,081,000 after acquiring an additional 222 shares during the last quarter. GAMMA Investing LLC boosted its stake in First Solar by 8,992.4% in the first quarter. GAMMA Investing LLC now owns 204,943 shares of the solar cell manufacturer's stock worth $25,911,000 after purchasing an additional 202,689 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of First Solar by 5.2% during the first quarter. Rhumbline Advisers now owns 202,337 shares of the solar cell manufacturer's stock worth $25,581,000 after purchasing an additional 10,022 shares during the last quarter. Mirador Capital Partners LP grew its holdings in shares of First Solar by 36.0% during the first quarter. Mirador Capital Partners LP now owns 3,094 shares of the solar cell manufacturer's stock worth $391,000 after purchasing an additional 819 shares during the last quarter. Finally, Czech National Bank increased its stake in shares of First Solar by 5.9% in the first quarter. Czech National Bank now owns 24,589 shares of the solar cell manufacturer's stock valued at $3,109,000 after buying an additional 1,376 shares in the last quarter. Institutional investors own 92.08% of the company's stock.

First Solar Trading Up 1.6%

Shares of NASDAQ FSLR opened at $223.53 on Tuesday. The company's 50 day simple moving average is $197.54 and its 200 day simple moving average is $165.71. 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 $255.63. The firm has a market capitalization of $23.97 billion, a P/E ratio of 19.12, a P/E/G ratio of 0.43 and a beta of 1.41.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating the consensus estimate of $2.68 by $0.50. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the previous year, the company posted $3.25 EPS. The business's revenue for the quarter 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. On average, analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Insiders Place Their Bets

In other news, insider Patrick James Buehler sold 1,600 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total transaction of $288,000.00. Following the completion of the transaction, the insider directly owned 4,398 shares in the company, valued at approximately $791,640. The trade was a 26.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 23,912 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were 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 owned 87,978 shares in the company, valued at $16,317,279.66. This represents a 21.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,315 shares of company stock worth $6,021,305. Insiders own 0.48% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on FSLR shares. Susquehanna increased their price objective on shares of First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a report on Friday, August 1st. Guggenheim upped their target price 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. Mizuho raised their price target on shares of First Solar from $275.00 to $278.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Jefferies Financial Group set a $194.00 price objective on First Solar and gave the stock a "buy" rating in a report on Tuesday, July 15th. Finally, Glj Research reiterated 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. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, First Solar has a consensus rating of "Moderate Buy" and a consensus price target of $228.80.

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.

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