Northern Trust Corp Acquires 46,758 Shares of First Solar, Inc. $FSLR

Key Points

• Northern Trust Corp increased its holdings in First Solar, Inc. by 3.7%, now owning approximately 1,295,310 shares valued at $163,766,000.
• Multiple analyst reports have updated their price targets for First Solar, with the average target now at $225.84 and a consensus rating of "Moderate Buy."
• Insider activity includes CEO Mark R. Widmar selling 23,912 shares for over $4.4 million, reducing his holdings by 21.37%.

Northern Trust Corp boosted its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,295,310 shares of the solar cell manufacturer's stock after buying an additional 46,758 shares during the period. Northern Trust Corp owned approximately 1.21% of First Solar worth $163,766,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of FSLR. Garde Capital Inc. bought a new stake in shares of First Solar during the first quarter valued at approximately $25,000. Larson Financial Group LLC boosted 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 worth $32,000 after purchasing an additional 219 shares in the last quarter. Abound Financial LLC acquired a new position in First Solar in the first quarter worth $45,000. Princeton Global Asset Management LLC acquired a new position in First Solar in the first quarter worth $51,000. Finally, Banque Transatlantique SA acquired a new position in shares of First Solar during the fourth quarter valued at $53,000. 92.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FSLR. Wells Fargo & Company cut their price target on First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Hsbc Global Res upgraded First Solar to a "strong-buy" rating in a report on Friday, August 1st. Jefferies Financial Group set a $194.00 price objective on First Solar and gave the stock a "buy" rating in a report on Tuesday, July 15th. Susquehanna increased their price objective on First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a report on Friday, August 1st. Finally, BMO Capital Markets raised their price target on First Solar from $194.00 to $203.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. 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 issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $225.84.

Insider Activity at First Solar

In related news, CEO Mark R. Widmar sold 23,912 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the sale, the chief executive officer owned 87,978 shares in the company, valued at $16,317,279.66. The trade was a 21.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Markus Gloeckler sold 9,557 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total value of $1,481,812.85. Following the sale, the chief technology officer owned 8,037 shares in the company, valued at $1,246,136.85. This represents a 54.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,691 shares of company stock worth $8,248,477 in the last three months. Insiders own 0.48% of the company's stock.

First Solar Stock Performance

NASDAQ:FSLR opened at $202.28 on Friday. The stock has a fifty day moving average price of $175.17 and a 200-day moving average price of $155.25. The company has a market cap of $21.69 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 0.38 and a beta of 1.48. 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, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.50. The firm 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 company's revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, equities analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

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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