Optimize Financial Inc Raises Stake in First Solar, Inc. $FSLR

Key Points

• Optimize Financial Inc increased its stake in First Solar, Inc. by 76.7% during the first quarter, holding 14,724 shares valued at $1,862,000, making it the ninth largest position in their portfolio.
• Several institutional investors, including Canada Pension Plan Investment Board, raised their stakes significantly in First Solar, contributing to a total of 92.08% of the company's stock owned by such entities.
• First Solar reported earnings of $3.18 per share for the last quarter, exceeding analysts' expectations, with revenue of $1.10 billion, marking an 8.6% year-over-year increase.

Optimize Financial Inc boosted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 76.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,724 shares of the solar cell manufacturer's stock after buying an additional 6,392 shares during the quarter. First Solar makes up about 0.7% of Optimize Financial Inc's investment portfolio, making the stock its 9th largest holding. Optimize Financial Inc's holdings in First Solar were worth $1,862,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FSLR. Nuveen LLC purchased a new position in First Solar during the first quarter valued at $114,730,000. Canada Pension Plan Investment Board raised its stake in First Solar by 16,857.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 759,033 shares of the solar cell manufacturer's stock valued at $95,965,000 after purchasing an additional 754,557 shares during the period. Invesco Ltd. boosted its position in shares of First Solar by 32.3% during the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer's stock worth $306,909,000 after acquiring an additional 592,444 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of First Solar by 22,107.8% during the 1st quarter. Jones Financial Companies Lllp now owns 512,556 shares of the solar cell manufacturer's stock valued at $64,802,000 after purchasing an additional 510,248 shares during the last quarter. Finally, Hill City Capital LP grew its holdings in First Solar by 59.4% during the 1st quarter. Hill City Capital LP now owns 1,355,000 shares of the solar cell manufacturer's stock valued at $171,313,000 after buying an additional 505,000 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

First Solar Stock Down 0.9%

Shares of FSLR opened at $203.21 on Tuesday. The company has a market capitalization of $21.79 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 0.40 and a beta of 1.41. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. The stock's 50-day moving average price is $185.34 and its 200-day moving average price is $157.95. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, sell-side analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Buying and Selling

In other news, CAO Nathan B. Theurer sold 686 shares of First Solar stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $182.03, for a total value of $124,872.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Patrick James Buehler sold 1,600 shares of the company's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total transaction of $288,000.00. Following the transaction, the insider owned 4,398 shares of the company's stock, valued at approximately $791,640. This trade represents a 26.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,315 shares of company stock valued at $6,021,305. 0.48% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FSLR has been the subject of a number of recent research reports. Jefferies Financial Group set a $194.00 price objective on shares of First Solar and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Mizuho raised their target price on shares of First Solar from $275.00 to $278.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. lifted their price objective on First Solar from $200.00 to $208.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Wolfe Research raised shares of First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price objective for the company in a research note on Tuesday, May 13th. Finally, BMO Capital Markets boosted their target price on shares of First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $225.84.

About First Solar

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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