First Solar, Inc. $FSLR Shares Purchased by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. has increased its stake in First Solar, Inc. by 5% in the first quarter, owning a total of 32,364 shares valued at approximately $4.1 million.
• First Solar's stock has risen by 11.1% recently, with the current share price at $199.95, compared to a 12-month low of $116.56.
• The company reported $3.18 earnings per share for the last quarter, surpassing estimates and reflecting an 8.6% revenue increase year-over-year, amounting to $1.10 billion.

Resona Asset Management Co. Ltd. lifted its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,364 shares of the solar cell manufacturer's stock after purchasing an additional 1,555 shares during the period. Resona Asset Management Co. Ltd.'s holdings in First Solar were worth $4,096,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Garde Capital Inc. bought a new stake in shares of First Solar during the first quarter worth $25,000. Larson Financial Group LLC raised its position in First Solar by 591.9% in the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock valued at $32,000 after buying an additional 219 shares during the last quarter. Banque Transatlantique SA bought a new position in First Solar in the fourth quarter valued at approximately $53,000. Abound Financial LLC bought a new position in First Solar in the first quarter valued at approximately $45,000. Finally, Princeton Global Asset Management LLC bought a new position in shares of First Solar during the 1st quarter worth approximately $51,000. Institutional investors own 92.08% of the company's stock.

Insider Activity at First Solar

In other First Solar news, insider Patrick James Buehler sold 1,868 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $149.08, for a total value of $278,481.44. Following the completion of the sale, the insider directly owned 5,998 shares in the company, valued at $894,181.84. This trade represents a 23.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Nathan B. Theurer sold 686 shares of the firm'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 transaction of $124,872.58. The disclosure for this sale can be found here. Insiders sold a total of 46,691 shares of company stock valued at $8,248,477 over the last quarter. 0.48% of the stock is owned by insiders.

First Solar Stock Performance

FSLR traded down $5.2420 during mid-day trading on Wednesday, reaching $205.7180. 1,915,979 shares of the company traded hands, compared to its average volume of 3,854,514. The stock has a market capitalization of $22.06 billion, a P/E ratio of 17.59, a P/E/G ratio of 0.43 and a beta of 1.48. 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 company's fifty day moving average price is $173.37 and its 200-day moving average price is $154.47. 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 posted its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping the consensus estimate of $2.68 by $0.50. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business posted $3.25 EPS. First Solar'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. On average, sell-side analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. 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 report on Tuesday, August 5th. Oppenheimer cut First Solar from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. upped their target price on 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 First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 target price for the company in a report on Tuesday, May 13th. Finally, Mizuho upped their target price on First Solar from $275.00 to $278.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $222.44.

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.