Russell Investments Group Ltd. Acquires 58,241 Shares of First Solar, Inc. $FSLR

Key Points

• Russell Investments Group Ltd. boosted its stake in First Solar, Inc. by 44.0% in the first quarter, holding 190,722 shares valued at approximately $24.15 million.
• Insider Michael Koralewski sold 2,951 shares, representing a 20.61% decrease in his ownership, while insider Patrick James Buehler sold 1,868 shares, decreasing his position by 23.75%.
• First Solar reported earnings per share of $3.18 for the last quarter, surpassing estimates, with the company's stock showing a market cap of $21.44 billion and a 12-month price range of $116.56 to $262.72.

Russell Investments Group Ltd. grew its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 44.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 190,722 shares of the solar cell manufacturer's stock after acquiring an additional 58,241 shares during the period. Russell Investments Group Ltd. owned about 0.18% of First Solar worth $24,149,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of FSLR. Raymond James Financial Inc. bought a new stake in shares of First Solar during the 4th quarter worth about $4,933,000. Mariner LLC boosted its holdings in shares of First Solar by 1.8% during the 4th quarter. Mariner LLC now owns 58,796 shares of the solar cell manufacturer's stock worth $10,362,000 after buying an additional 1,030 shares during the period. Jump Financial LLC bought a new stake in shares of First Solar during the 4th quarter worth about $376,000. NewEdge Advisors LLC boosted its holdings in shares of First Solar by 10.5% during the 4th quarter. NewEdge Advisors LLC now owns 9,733 shares of the solar cell manufacturer's stock worth $1,715,000 after buying an additional 924 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of First Solar by 213.7% during the 4th quarter. Canada Pension Plan Investment Board now owns 4,476 shares of the solar cell manufacturer's stock worth $789,000 after buying an additional 3,049 shares during the period. Institutional investors own 92.08% of the company's stock.

Insiders Place Their Bets

In other First Solar news, insider Michael Koralewski sold 2,951 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $158.21, for a total value of $466,877.71. Following the completion of the sale, the insider directly owned 11,369 shares in the company, valued at approximately $1,798,689.49. This trade represents a 20.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Nathan B. Theurer sold 686 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was 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. In the last three months, insiders sold 46,691 shares of company stock valued at $8,248,477. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FSLR has been the subject of several research analyst reports. Wells Fargo & Company reduced their target price on shares of First Solar from $191.00 to $177.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Truist Financial reissued a "buy" rating and issued a $200.00 price objective (down previously from $245.00) on shares of First Solar in a report on Thursday, May 1st. Mizuho boosted their price objective 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. Susquehanna boosted their price objective on shares of First Solar from $203.00 to $222.00 and gave the company a "positive" rating in a report on Friday, August 1st. Finally, Wolfe Research raised shares of First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price target for the company in a report on Tuesday, May 13th. Two 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $222.44.

First Solar Trading Down 2.5%

Shares of FSLR traded down $5.1880 during trading hours on Wednesday, hitting $205.7720. 2,035,551 shares of the stock were exchanged, compared to its average volume of 3,855,402. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $262.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41. The business has a 50-day moving average of $173.37 and a 200-day moving average of $154.47. The firm has a market capitalization of $22.07 billion, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 0.43 and a beta of 1.48.

First Solar (NASDAQ:FSLR - Get Free Report) last posted 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. 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%. First Solar's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, research analysts expect that First Solar, Inc. will post 13.05 EPS for the current year.

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.