Sage Private Wealth Group LLC Acquires 1,260 Shares of First Solar, Inc. $FSLR

Key Points

• Sage Private Wealth Group LLC increased its holdings in First Solar by 71.6% in Q2, acquiring an additional 1,260 shares, bringing their total ownership to 3,020 shares valued at $500,000.
• Insider sales include 686 shares sold by CAO Nathan B. Theurer and 2,321 shares sold by CEO Mark R. Widmar, with total insider sales amounting to over $5.7 million in the last three months.
• Analysts remain optimistic about First Solar, with a consensus target price of $240.56 and several recent upgrades from investment firms, indicating a positive outlook for the stock.

Sage Private Wealth Group LLC raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 71.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,020 shares of the solar cell manufacturer's stock after buying an additional 1,260 shares during the period. Sage Private Wealth Group LLC's holdings in First Solar were worth $500,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark R. Widmar sold 2,321 shares of the business'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 transaction of $462,900.24. Following the completion of the transaction, the chief executive officer owned 81,861 shares of the company's stock, valued at approximately $16,326,357.84. The trade was a 2.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,715 shares of company stock worth $5,733,305. Insiders own 0.48% of the company's stock.

First Solar Trading Down 2.7%

Shares of NASDAQ FSLR opened at $237.79 on Friday. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $248.04. 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 firm has a 50-day moving average of $209.93 and a 200 day moving average of $174.27. The stock has a market cap of $25.50 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 0.49 and a beta of 1.38.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the previous year, the firm posted $3.25 EPS. The business'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. As a group, sell-side analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Mizuho increased their target price on shares of First Solar from $275.00 to $278.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. BMO Capital Markets increased their price objective on First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Susquehanna boosted their target price on First Solar from $222.00 to $273.00 and gave the company a "positive" rating in a research note on Monday. TD Cowen upped their target price on First Solar from $220.00 to $240.00 and gave the company a "buy" rating in a report on Friday, September 12th. Finally, Robert W. Baird lifted their price target on shares of First Solar from $240.00 to $264.00 and gave the company an "outperform" rating in a report on Monday. Two research 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $240.56.

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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