Praxis Investment Management Inc. Boosts Stock Holdings in First Solar, Inc. $FSLR

Key Points

• Praxis Investment Management Inc. increased its holdings in First Solar by 64.2%, now owning 7,060 shares valued at approximately $1,169,000.
• Analysts show strong confidence in First Solar, with a consensus rating of "Moderate Buy" and a price target of $240.56.
• First Solar reported strong earnings with $3.18 earnings per share, surpassing estimates and achieving revenue of $1.10 billion during the last quarter.

Praxis Investment Management Inc. raised its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 64.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,060 shares of the solar cell manufacturer's stock after purchasing an additional 2,760 shares during the period. Praxis Investment Management Inc.'s holdings in First Solar were worth $1,169,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Garde Capital Inc. bought a new position in shares of First Solar in the first quarter valued at approximately $25,000. Wealth Preservation Advisors LLC bought a new stake in First Solar during the 1st quarter valued at $25,000. TD Private Client Wealth LLC increased its position in First Solar by 126.9% during the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer's stock valued at $25,000 after purchasing an additional 85 shares during the period. Harbor Investment Advisory LLC increased its position in First Solar by 138.9% during the 2nd quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer's stock valued at $28,000 after purchasing an additional 100 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of First Solar by 591.9% in the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock worth $32,000 after buying an additional 219 shares during the period. Hedge funds and other institutional investors own 92.08% of the company's stock.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $231.85 on Friday. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $248.04. The stock has a market capitalization of $24.87 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 0.45 and a beta of 1.38. The firm's 50 day moving average price is $210.88 and its 200-day moving average price is $174.99. 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 released its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.50. The business 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 business's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Equities research analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Glj Research reaffirmed a "buy" rating and issued a $214.06 target price (up from $172.53) on shares of First Solar in a research report on Tuesday, August 12th. Evercore ISI assumed coverage on shares of First Solar in a research report on Monday, October 6th. They set an "in-line" rating and a $240.00 price objective on the stock. Citigroup increased their price objective on shares of First Solar from $198.00 to $300.00 and gave the company a "buy" rating in a research report on Tuesday. UBS Group reissued a "buy" rating and set a $275.00 price objective (up from $255.00) on shares of First Solar in a research report on Tuesday, August 5th. Finally, TD Cowen increased their price objective on shares of First Solar from $220.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, First Solar has an average rating of "Moderate Buy" and a consensus price target of $240.56.

Insider Transactions at First Solar

In related news, CEO Mark R. Widmar sold 2,321 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $199.44, for a total value of $462,900.24. Following the sale, the chief executive officer owned 81,861 shares in the company, valued at $16,326,357.84. This represents a 2.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Nathan B. Theurer sold 686 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total value of $124,872.58. The disclosure for this sale can be found here. Insiders have sold 30,715 shares of company stock worth $5,733,305 in the last 90 days. Insiders own 0.48% of the company's stock.

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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