Kovitz Investment Group Partners LLC Increases Stock Position in First Solar, Inc. $FSLR

Key Points

• Kovitz Investment Group Partners LLC increased its holdings in First Solar, Inc. by 1,212.2% in Q1, owning 39,852 shares valued at approximately $5.04 million.
• First Solar reported an earnings per share of $3.18, exceeding estimates by $0.50, with revenue of $1.10 billion for the quarter.
• Analysts have generally rated First Solar with a consensus of “Moderate Buy”, with target prices ranging from $203.00 to $275.00.

Kovitz Investment Group Partners LLC boosted its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 1,212.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,852 shares of the solar cell manufacturer's stock after purchasing an additional 36,815 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in First Solar were worth $5,039,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in FSLR. Garde Capital Inc. purchased a new stake in shares of First Solar in the 1st quarter worth approximately $25,000. Larson Financial Group LLC grew its stake in shares of First Solar by 591.9% in the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock worth $32,000 after acquiring an additional 219 shares during the last quarter. Abound Financial LLC bought a new position in shares of First Solar during the first quarter valued at $45,000. Princeton Global Asset Management LLC purchased a new position in shares of First Solar in the 1st quarter worth about $51,000. Finally, Banque Transatlantique SA purchased a new position in shares of First Solar in the 4th quarter worth about $53,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Stock Performance

Shares of FSLR stock traded down $14.5870 during mid-day trading on Thursday, reaching $191.8530. 4,176,749 shares of the company's stock traded hands, compared to its average volume of 3,862,264. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The firm has a 50 day moving average price of $174.14 and a two-hundred day moving average price of $154.83. The firm has a market capitalization of $20.58 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 0.41 and a beta of 1.48. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $262.72.

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. 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 was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity

In related news, CEO Mark R. Widmar sold 2,321 shares of First Solar stock in a transaction on Friday, August 15th. The shares were sold at an average price of $199.44, for a total transaction of $462,900.24. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 value of $288,000.00. Following the sale, the insider directly owned 4,398 shares in the company, valued at approximately $791,640. This represents a 26.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,691 shares of company stock worth $8,248,477. 0.48% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on FSLR shares. Wall Street Zen raised shares of First Solar from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Wells Fargo & Company cut their price target on shares of First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. BMO Capital Markets raised their price target on shares of First Solar from $194.00 to $203.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Truist Financial reaffirmed a "buy" rating and issued a $200.00 price objective (down from $245.00) on shares of First Solar in a research report on Thursday, May 1st. Finally, UBS Group reiterated 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. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $222.44.

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.