Jones Financial Companies Lllp Acquires 510,248 Shares of First Solar, Inc. $FSLR

Key Points

• Jones Financial Companies Lllp increased its stake in First Solar, Inc. by 22,107.8% in Q1, owning 512,556 shares worth approximately $64.8 million by the end of the period.
• Equity analysts have raised First Solar's price targets, with Guggenheim increasing it from $202 to $287, reflecting strong market sentiment towards the stock.
• First Solar reported earnings of $3.18 EPS for the last quarter, surpassing expectations of $2.68 EPS, and showed an 8.6% year-over-year revenue increase.

Jones Financial Companies Lllp boosted its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 22,107.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 512,556 shares of the solar cell manufacturer's stock after purchasing an additional 510,248 shares during the quarter. Jones Financial Companies Lllp owned about 0.48% of First Solar worth $64,802,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FSLR. Garde Capital Inc. bought a new stake in shares of First Solar in the 1st quarter valued at $25,000. Wealth Preservation Advisors LLC acquired a new stake in First Solar in the first quarter worth $25,000. Colonial Trust Advisors bought a new stake in First Solar in the first quarter valued at $32,000. Larson Financial Group LLC increased its stake 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 in the last quarter. Finally, Abound Financial LLC acquired a new position in shares of First Solar during the first quarter valued at about $45,000. 92.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. BMO Capital Markets boosted 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. Bank of America upped their price objective on shares of First Solar from $185.00 to $201.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Susquehanna lifted their price objective on shares of First Solar from $203.00 to $222.00 and gave the company a "positive" rating in a report on Friday, August 1st. JPMorgan Chase & Co. upped their target price on shares of First Solar from $200.00 to $208.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Finally, Glj Research reiterated a "buy" rating and set a $214.06 price target (up previously from $172.53) on shares of First Solar in a research note on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, First Solar has a consensus rating of "Moderate Buy" and a consensus price target of $225.84.

First Solar Stock Performance

Shares of FSLR traded up $0.73 on Wednesday, reaching $203.79. 1,691,345 shares of the company's stock traded hands, compared to its average volume of 3,316,478. The stock's 50 day simple moving average is $186.15 and its two-hundred day simple moving average is $158.26. The stock has a market cap of $21.86 billion, a PE ratio of 17.37, a PEG ratio of 0.40 and a beta of 1.41. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $262.72. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.50. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company earned $3.25 EPS. The business's revenue for the quarter was up 8.6% on a year-over-year basis. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

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 shares were sold at an average price of $180.00, for a total value of $288,000.00. Following the sale, the insider owned 4,398 shares of the company's stock, valued at approximately $791,640. The trade was a 26.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark R. Widmar sold 2,321 shares of the company'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 transaction, the chief executive officer owned 81,861 shares in the company, valued at approximately $16,326,357.84. The trade was a 2.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,315 shares of company stock worth $6,021,305. Insiders own 0.48% of the company's stock.

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.