Sequoia Financial Advisors LLC Buys New Position in First Solar, Inc. $FSLR

Sequoia Financial Advisors LLC bought a new stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,975 shares of the solar cell manufacturer's stock, valued at approximately $327,000.

Several other institutional investors have also recently added to or reduced their stakes in FSLR. Wealth Preservation Advisors LLC acquired a new position in First Solar in the 1st quarter valued at about $25,000. TD Private Client Wealth LLC increased 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 valued at $25,000 after acquiring an additional 85 shares during the last quarter. Harbor Investment Advisory LLC increased 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 valued at $28,000 after acquiring an additional 100 shares during the last quarter. Larson Financial Group LLC increased 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 valued at $32,000 after acquiring an additional 219 shares during the last quarter. Finally, Colonial Trust Advisors acquired a new position in shares of First Solar during the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 92.08% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on FSLR. Hsbc Global Res raised shares of First Solar to a "strong-buy" rating in a research note on Friday, August 1st. TD Cowen upped their price objective on shares of First Solar from $220.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Guggenheim upped their price objective on shares of First Solar from $202.00 to $287.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Mizuho upped their price objective on shares of First Solar from $275.00 to $278.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Finally, Evercore ISI began coverage on shares of First Solar in a research note on Monday, October 6th. They set an "in-line" rating and a $240.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $244.00.

First Solar Stock Down 1.5%

NASDAQ FSLR opened at $223.36 on Thursday. The stock has a market cap of $23.96 billion, a PE ratio of 19.11, a P/E/G ratio of 0.43 and a beta of 1.38. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $248.04. The business has a 50 day moving average price of $213.43 and a two-hundred day moving average price of $176.95. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.First Solar'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 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, sell-side analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Activity at First Solar

In other news, CEO Mark R. Widmar sold 23,912 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the completion of the transaction, the chief executive officer directly owned 87,978 shares in the company, valued at approximately $16,317,279.66. This represents a 21.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Nathan B. Theurer sold 686 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total value of $124,872.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,715 shares of company stock valued at $5,733,305. Company insiders own 0.48% of the company's stock.

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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