Sava Infond d.o.o. Increases Stock Position in First Solar, Inc. $FSLR

Key Points

• Sava Infond d.o.o. increased its holdings in First Solar, Inc. by 136.8% in the second quarter, owning 4,500 shares valued at $745,000.
• Multiple analysts have upgraded First Solar's stock ratings, with Deutsche Bank raising its price target from $225 to $255 and Mizuho increasing it from $275 to $278.
• First Solar reported strong quarterly earnings with $3.18 EPS, exceeding estimates, and a revenue of $1.10 billion, up 8.6% year over year.

Sava Infond d.o.o. lifted its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 136.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,500 shares of the solar cell manufacturer's stock after purchasing an additional 2,600 shares during the period. Sava Infond d.o.o.'s holdings in First Solar were worth $745,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of FSLR. Garde Capital Inc. purchased a new stake in shares of First Solar in the 1st quarter worth approximately $25,000. Wealth Preservation Advisors LLC bought a new position in shares of First Solar during the 1st quarter worth approximately $25,000. TD Private Client Wealth LLC raised its stake in shares of 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 worth $25,000 after acquiring an additional 85 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in shares of First Solar by 138.9% during 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 in the last quarter. Finally, Larson Financial Group LLC raised its stake in shares of First Solar by 591.9% during the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock worth $32,000 after acquiring an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of First Solar from $225.00 to $255.00 and gave the stock a "buy" rating in a research note on Wednesday. Mizuho boosted their price objective on shares of First Solar from $275.00 to $278.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Wall Street Zen upgraded shares of First Solar from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Glj Research reiterated a "buy" rating and set a $214.06 price objective (up previously from $172.53) on shares of First Solar in a research note on Tuesday, August 12th. Finally, UBS Group reiterated a "buy" rating and set a $275.00 price objective (up previously from $255.00) on shares of First Solar in a research note on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $231.04.

First Solar Stock Down 0.9%

NASDAQ:FSLR opened at $230.13 on Friday. The firm has a market capitalization of $24.68 billion, a P/E ratio of 19.69, a PEG ratio of 0.46 and a beta of 1.38. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $240.60. The company's fifty day moving average price is $201.18 and its 200-day moving average price is $167.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio 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 analysts' consensus estimates of $2.68 by $0.50. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The business's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, equities research analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Buying and Selling at First Solar

In related news, CAO Nathan B. Theurer sold 686 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mark R. Widmar sold 2,321 shares of the firm's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $199.44, for a total transaction of $462,900.24. Following the sale, the chief executive officer owned 81,861 shares in the company, valued at approximately $16,326,357.84. This represents a 2.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,715 shares of company stock worth $5,733,305. 0.48% of the stock is owned by company insiders.

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.

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