Inspire Investing LLC Purchases 1,564 Shares of First Solar, Inc. $FSLR

Key Points

• Inspire Investing LLC increased its ownership in First Solar, Inc. by 14.1%, acquiring an additional 1,564 shares, bringing its total to 12,649 shares valued at approximately $1.6 million.
• A significant portion of First Solar's stock, around 92.08%, is owned by institutional investors and hedge funds, indicating strong institutional interest in the company.
• Analysts have raised their price targets for First Solar, with Goldman Sachs setting a new target of $255 and a majority maintaining a "buy" rating, signaling positive outlooks for the company's future performance.

Inspire Investing LLC boosted its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 14.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,649 shares of the solar cell manufacturer's stock after purchasing an additional 1,564 shares during the period. Inspire Investing LLC's holdings in First Solar were worth $1,599,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FSLR. Garde Capital Inc. acquired a new stake in First Solar in the first quarter valued at $25,000. Wealth Preservation Advisors LLC acquired a new stake in First Solar in the first quarter valued at $25,000. Larson Financial Group LLC increased its holdings in First Solar by 591.9% in the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock valued at $32,000 after purchasing an additional 219 shares during the period. Colonial Trust Advisors acquired a new stake in First Solar in the first quarter valued at $32,000. Finally, Abound Financial LLC acquired a new stake in First Solar in the first quarter valued at $45,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Nathan B. Theurer sold 686 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $182.03, for a total value of $124,872.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Patrick James Buehler sold 1,600 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were 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 disclosure for this sale can be found here. Insiders sold a total of 32,315 shares of company stock worth $6,021,305 in the last three months. Company insiders own 0.48% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on FSLR shares. The Goldman Sachs Group increased their price objective on First Solar from $204.00 to $255.00 and gave the company a "buy" rating in a report on Monday, May 19th. TD Cowen increased their price objective on First Solar from $200.00 to $220.00 and gave the company a "buy" rating in a report on Friday, August 1st. BMO Capital Markets increased their price objective on First Solar from $194.00 to $203.00 and gave the company an "outperform" rating in a report on Friday, August 1st. 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. Finally, UBS Group reiterated a "buy" rating and set a $275.00 price target (up from $255.00) on shares of First Solar in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $225.84.

First Solar Stock Performance

Shares of FSLR opened at $201.70 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41. The stock has a 50-day moving average of $187.50 and a 200-day moving average of $159.30. The company has a market cap of $21.63 billion, a PE ratio of 17.25, a P/E/G ratio of 0.40 and a beta of 1.41. First Solar, Inc. has a one year low of $116.56 and a one year high of $262.72.

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. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, equities research analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

First Solar Company 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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