GAMMA Investing LLC Has $524,000 Position in First Solar, Inc. $FSLR

Key Points

• GAMMA Investing LLC has significantly increased its position in First Solar, Inc. by 95.4%, holding $524,000 worth of the stock at the end of the second quarter.
• First Solar reported better-than-expected quarterly earnings with earnings per share of $3.18, exceeding estimates of $2.68, and revenue of $1.10 billion, above the predicted $1.03 billion.
• Brokerages continue to show strong support for First Solar, with numerous upgrades and price target increases, reflecting a consensus rating of "Moderate Buy" and a target price of $228.80.

GAMMA Investing LLC lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 95.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,167 shares of the solar cell manufacturer's stock after buying an additional 1,546 shares during the period. GAMMA Investing LLC's holdings in First Solar were worth $524,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in First Solar by 3.0% during the first quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer's stock worth $1,668,919,000 after acquiring an additional 378,641 shares in the last quarter. Wellington Management Group LLP increased its position in shares of First Solar by 17.2% during the 1st quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer's stock worth $349,617,000 after purchasing an additional 405,457 shares during the last quarter. Invesco Ltd. raised its stake in shares of First Solar by 32.3% during the 1st quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer's stock worth $306,909,000 after purchasing an additional 592,444 shares in the last quarter. Samlyn Capital LLC raised its stake in shares of First Solar by 6.3% during the 1st quarter. Samlyn Capital LLC now owns 1,741,794 shares of the solar cell manufacturer's stock worth $220,215,000 after purchasing an additional 103,403 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of First Solar by 20.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,741,026 shares of the solar cell manufacturer's stock valued at $220,118,000 after buying an additional 290,112 shares during the last quarter. Institutional investors own 92.08% of the company's stock.

Insider Buying and Selling

In related news, insider Patrick James Buehler sold 1,600 shares of First Solar stock in a transaction that occurred on 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 sale, the insider directly owned 4,398 shares of the company's stock, valued at approximately $791,640. This trade represents a 26.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Nathan B. Theurer sold 686 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total value of $124,872.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,315 shares of company stock valued at $6,021,305. Insiders own 0.48% of the company's stock.

First Solar Stock Performance

Shares of FSLR stock opened at $223.05 on Friday. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $262.72. The company has a market capitalization of $23.92 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 0.43 and a beta of 1.41. The company has a 50-day simple moving average of $195.76 and a 200 day simple moving average of $164.09. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly 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. The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The business's revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, sell-side analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FSLR. Wall Street Zen upgraded shares of First Solar from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Mizuho lifted their price objective on shares of First Solar from $275.00 to $278.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. BMO Capital Markets boosted their price objective on shares of First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. TD Cowen raised their target price on shares of First Solar from $220.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Finally, UBS Group reiterated a "buy" rating and set a $275.00 price target (up previously from $255.00) on shares of First Solar in a report on Tuesday, August 5th. 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average 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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