First Solar, Inc. $FSLR Stake Lifted by Quantitative Investment Management LLC

Key Points

• Quantitative Investment Management LLC significantly increased its stake in First Solar, owning 45,460 shares after a 1,714% increase, valued at approximately $5.75 million.
• First Solar has been upgraded by several analysts, with price targets raised to as high as $221.00, indicating strong market confidence in the company's future performance.
• In its latest earnings report, First Solar outperformed expectations, posting an EPS of $3.18 compared to an expected $2.68, along with an 8.6% year-over-year revenue growth.

Quantitative Investment Management LLC boosted its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 1,714.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 45,460 shares of the solar cell manufacturer's stock after acquiring an additional 42,954 shares during the period. Quantitative Investment Management LLC's holdings in First Solar were worth $5,747,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Legend Financial Advisors Inc. grew its stake in shares of First Solar by 1.4% during the first quarter. Legend Financial Advisors Inc. now owns 4,726 shares of the solar cell manufacturer's stock valued at $598,000 after acquiring an additional 64 shares in the last quarter. Horizon Investments LLC boosted its holdings in First Solar by 5.1% in the first quarter. Horizon Investments LLC now owns 1,537 shares of the solar cell manufacturer's stock valued at $194,000 after purchasing an additional 74 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in First Solar by 0.7% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,348 shares of the solar cell manufacturer's stock valued at $1,435,000 after purchasing an additional 82 shares during the last quarter. Linden Thomas Advisory Services LLC grew its stake in First Solar by 4.3% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 2,243 shares of the solar cell manufacturer's stock valued at $284,000 after purchasing an additional 92 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its holdings in First Solar by 7.9% during the 4th quarter. EP Wealth Advisors LLC now owns 1,293 shares of the solar cell manufacturer's stock worth $228,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

Insider Activity

In related news, insider Michael Koralewski sold 2,951 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total value of $466,877.71. Following the sale, the insider directly owned 11,369 shares in the company, valued at $1,798,689.49. This trade represents a 20.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 23,912 shares of First Solar stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total value of $4,434,958.64. Following the sale, the chief executive officer directly owned 87,978 shares in the company, valued at $16,317,279.66. The trade was a 21.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,134 shares of company stock worth $6,766,664 in the last quarter. Company insiders own 0.48% of the company's stock.

First Solar Stock Performance

NASDAQ FSLR traded down $5.49 during trading hours on Wednesday, hitting $191.23. The company had a trading volume of 2,025,162 shares, compared to its average volume of 3,638,455. 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 firm has a market cap of $20.51 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 0.39 and a beta of 1.48. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $262.72. The business has a fifty day simple moving average of $176.71 and a 200-day simple moving average of $155.61.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.50. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company posted $3.25 earnings per share. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Equities analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on FSLR shares. Truist Financial reiterated a "buy" rating and set a $200.00 target price (down from $245.00) on shares of First Solar in a research note on Thursday, May 1st. KeyCorp lowered shares of First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price objective for the company. in a report on Wednesday, April 30th. Royal Bank Of Canada boosted their target price on shares of First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Wolfe Research raised shares of First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price target on the stock in a research report on Tuesday, May 13th. Finally, Bank of America boosted their price objective on First Solar from $185.00 to $201.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $225.84.

First Solar Company 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.