Foster Victor Wealth Advisors LLC Reduces Position in First Solar, Inc. $FSLR

Key Points

• Foster Victor Wealth Advisors LLC reduced its position in First Solar, Inc. by 2.5%, owning approximately 0.09% of the company's stock valued at $15,669,000.
• Insider selling activity saw CAO Nathan B. Theurer and CEO Mark R. Widmar offloading shares, with a total of 32,315 shares worth over $6 million sold in the last three months.
• First Solar reported a $3.18 EPS for the last quarter, exceeding estimates, and several analysts have upgraded their ratings with price targets now ranging from $214.06 to $275.00.

Foster Victor Wealth Advisors LLC reduced its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 2.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,400 shares of the solar cell manufacturer's stock after selling 2,394 shares during the period. Foster Victor Wealth Advisors LLC owned approximately 0.09% of First Solar worth $15,669,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Ballentine Partners LLC lifted its stake in First Solar by 25.4% in the 2nd quarter. Ballentine Partners LLC now owns 2,260 shares of the solar cell manufacturer's stock worth $374,000 after purchasing an additional 458 shares in the last quarter. Fifth Third Bancorp grew its position in shares of First Solar by 67.5% in the second quarter. Fifth Third Bancorp now owns 4,667 shares of the solar cell manufacturer's stock valued at $773,000 after purchasing an additional 1,881 shares in the last quarter. Harrington Investments INC lifted its position in First Solar by 0.5% during the second quarter. Harrington Investments INC now owns 13,278 shares of the solar cell manufacturer's stock worth $2,198,000 after buying an additional 65 shares in the last quarter. GAMMA Investing LLC boosted its stake in First Solar by 95.4% during the second quarter. GAMMA Investing LLC now owns 3,167 shares of the solar cell manufacturer's stock worth $524,000 after buying an additional 1,546 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC purchased a new stake in First Solar in the 2nd quarter valued at $409,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at First Solar

In other First Solar news, CAO Nathan B. Theurer sold 686 shares of First Solar 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark R. Widmar sold 2,321 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $199.44, for a total value of $462,900.24. Following the completion of the sale, the chief executive officer owned 81,861 shares of the company's stock, valued at approximately $16,326,357.84. This represents a 2.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,315 shares of company stock valued at $6,021,305 in the last three months. 0.48% of the stock is currently owned by company insiders.

First Solar Stock Performance

Shares of FSLR opened at $215.73 on Wednesday. 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, Inc. has a 52-week low of $116.56 and a 52-week high of $262.72. The stock has a 50 day moving average price of $193.72 and a 200 day moving average price of $163.08. The company has a market capitalization of $23.14 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40.

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, topping 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 business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm earned $3.25 EPS. The company's 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. Research analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Hsbc Global Res upgraded First Solar to a "strong-buy" rating in a report on Friday, August 1st. UBS Group reaffirmed a "buy" rating and set a $275.00 target price (up from $255.00) on shares of First Solar in a research note on Tuesday, August 5th. TD Cowen raised their price target on shares of First Solar from $220.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Glj Research reiterated a "buy" rating and issued a $214.06 price objective (up from $172.53) on shares of First Solar in a report on Tuesday, August 12th. Finally, Susquehanna increased their price objective on First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a research report on Friday, August 1st. Two 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 company's stock. According to MarketBeat, First Solar presently has a consensus rating of "Moderate Buy" and an average target price 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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