Raymond James Financial Inc. Has $5.56 Million Stock Holdings in First Solar, Inc. $FSLR

Key Points

• Raymond James Financial Inc. has increased its holdings in First Solar, Inc. by 57.2% during the 1st quarter, owning 43,991 shares valued at approximately $5.56 million.
• First Solar reported $3.18 earnings per share for the last quarter, exceeding analyst estimates, with a year-over-year revenue growth of 8.6%.
• Several analysts have raised their price targets for First Solar, with JPMorgan increasing their target from $200.00 to $208.00, reflecting a consensus rating of "Moderate Buy" for the stock.

Raymond James Financial Inc. raised its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 57.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 43,991 shares of the solar cell manufacturer's stock after acquiring an additional 16,003 shares during the quarter. Raymond James Financial Inc.'s holdings in First Solar were worth $5,562,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Horizon Investments LLC raised its position in First Solar by 5.1% during the 1st quarter. Horizon Investments LLC now owns 1,537 shares of the solar cell manufacturer's stock worth $194,000 after purchasing an additional 74 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of 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 buying an additional 82 shares during the period. Linden Thomas Advisory Services LLC lifted its stake in shares of First Solar by 4.3% in the first quarter. Linden Thomas Advisory Services LLC now owns 2,243 shares of the solar cell manufacturer's stock worth $284,000 after acquiring an additional 92 shares during the period. EP Wealth Advisors LLC lifted its stake in shares of First Solar by 7.9% in the fourth quarter. EP Wealth Advisors LLC now owns 1,293 shares of the solar cell manufacturer's stock worth $228,000 after acquiring an additional 95 shares during the period. Finally, Signaturefd LLC boosted its holdings in First Solar by 11.6% in the first quarter. Signaturefd LLC now owns 985 shares of the solar cell manufacturer's stock valued at $125,000 after acquiring an additional 102 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $201.49 on Thursday. The stock's 50 day moving average is $182.61 and its 200-day moving average is $157.11. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $262.72. 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 capitalization of $21.61 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 0.39 and a beta of 1.41.

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, topping 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 firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior 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. Sell-side analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FSLR has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of First Solar from $200.00 to $208.00 and gave the stock 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 target price for the company in a research note on Tuesday, May 13th. Mizuho boosted their target price on shares of First Solar from $275.00 to $278.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Wall Street Zen raised shares of First Solar from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Hsbc Global Res raised First Solar to a "strong-buy" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $225.84.

Insider Buying and Selling at First Solar

In other news, CEO Mark R. Widmar sold 23,912 shares of the company's 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 completion of the sale, the chief executive officer owned 87,978 shares in the company, valued at $16,317,279.66. This represents a 21.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Patrick James Buehler sold 1,600 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $180.00, for a total transaction of $288,000.00. Following the completion of the sale, 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 worth $6,021,305. Insiders own 0.48% of the company's stock.

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.

Want to see what other hedge funds are holding FSLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Solar, Inc. (NASDAQ:FSLR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.