Northwestern Mutual Wealth Management Co. Has $1.59 Million Stock Position in First Solar, Inc. $FSLR

Key Points

• Northwestern Mutual Wealth Management Co. significantly increased its stake in First Solar, Inc. by 177.3%, now holding shares valued at approximately $1.59 million.
• Analysts are bullish on First Solar, with UBS and Goldman Sachs raising their price targets to $275.00 and $255.00 respectively, contributing to a consensus "Moderate Buy" rating.
• First Solar reported strong quarterly earnings, with $3.18 EPS which exceeded expectations and an 8.6% increase in year-over-year revenue.

Northwestern Mutual Wealth Management Co. lifted its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 177.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,534 shares of the solar cell manufacturer's stock after acquiring an additional 8,014 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in First Solar were worth $1,585,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of FSLR. Nuveen LLC acquired a new stake in shares of First Solar in the first quarter valued at about $114,730,000. Invesco Ltd. increased its position in shares of First Solar by 32.3% in the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer's stock valued at $306,909,000 after acquiring an additional 592,444 shares during the last quarter. Wellington Management Group LLP increased its position in shares of First Solar by 17.2% in the first quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer's stock valued at $349,617,000 after acquiring an additional 405,457 shares during the last quarter. Vanguard Group Inc. increased its position in shares of First Solar by 3.0% in the first quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer's stock valued at $1,668,919,000 after acquiring an additional 378,641 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of First Solar by 218.6% in the fourth quarter. Royal Bank of Canada now owns 446,799 shares of the solar cell manufacturer's stock valued at $78,744,000 after acquiring an additional 306,581 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Trading Down 0.9%

Shares of NASDAQ:FSLR opened at $195.19 on Friday. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72. The stock has a market cap of $20.93 billion, a PE ratio of 16.70, a P/E/G ratio of 0.39 and a beta of 1.48. The business has a 50 day moving average of $179.73 and a 200-day moving average of $156.31. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the previous year, the company posted $3.25 earnings per share. The business's revenue was up 8.6% on a year-over-year basis. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, equities research analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Transactions at First Solar

In other news, insider Michael Koralewski sold 2,951 shares of First Solar stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $158.21, for a total value of $466,877.71. Following the completion of the sale, the insider directly owned 11,369 shares in the company, valued at approximately $1,798,689.49. The trade was a 20.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark R. Widmar sold 2,321 shares of First Solar stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 81,861 shares of the company's stock, valued at approximately $16,326,357.84. The trade was a 2.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,134 shares of company stock worth $6,766,664. Insiders own 0.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FSLR shares. UBS Group reaffirmed a "buy" rating and issued a $275.00 target price (up previously from $255.00) on shares of First Solar in a research report on Tuesday, August 5th. The Goldman Sachs Group lifted their price target on First Solar from $204.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Hsbc Global Res upgraded First Solar to a "strong-buy" rating in a report on Friday, August 1st. Royal Bank Of Canada lifted their price target on First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. Finally, Wall Street Zen upgraded First Solar from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. 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 given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $225.84.

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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