Shell Asset Management Co. Has $1.35 Million Stock Position in First Solar, Inc. $FSLR

Key Points

• Shell Asset Management Co. increased its investment in First Solar, Inc. by 150.6% during the second quarter, reaching a total position worth $1.35 million with 8,181 shares owned.
• First Solar's recent quarterly earnings revealed an EPS of $3.18, exceeding expectations, while the company projected FY 2025 EPS guidance of 13.500-16.500.
• Analysts have generally rated First Solar positively, with upgrades to price targets from several firms, including Deutsche Bank, which raised its target to $255.00 and maintains a "buy" rating.

Shell Asset Management Co. grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 150.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,181 shares of the solar cell manufacturer's stock after buying an additional 4,916 shares during the quarter. Shell Asset Management Co.'s holdings in First Solar were worth $1,354,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Slow Capital Inc. grew its holdings in shares of First Solar by 11.9% during the second quarter. Slow Capital Inc. now owns 48,978 shares of the solar cell manufacturer's stock valued at $8,108,000 after buying an additional 5,221 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in First Solar by 218.8% during the second quarter. Prime Capital Investment Advisors LLC now owns 18,278 shares of the solar cell manufacturer's stock worth $3,026,000 after purchasing an additional 12,544 shares during the last quarter. DAVENPORT & Co LLC purchased a new position in First Solar during the second quarter worth about $237,000. Mount Vernon Associates Inc. MD purchased a new position in First Solar during the second quarter worth about $215,000. Finally, Sava Infond d.o.o. boosted its holdings in First Solar by 136.8% during the second quarter. Sava Infond d.o.o. now owns 4,500 shares of the solar cell manufacturer's stock worth $745,000 after purchasing an additional 2,600 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Performance

NASDAQ FSLR opened at $234.30 on Friday. The company's 50 day moving average is $205.26 and its 200-day moving average is $170.68. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $237.20. 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 firm has a market cap of $25.13 billion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 0.46 and a beta of 1.38.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.50. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm posted $3.25 earnings per share. The company's quarterly revenue 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. Sell-side analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of First Solar from $225.00 to $255.00 and gave the stock a "buy" rating in a report on Wednesday, October 1st. TD Cowen boosted their price target on shares of First Solar from $220.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Weiss Ratings restated a "hold (c)" rating on shares of First Solar in a report on Wednesday. The Goldman Sachs Group boosted their price target on shares of First Solar from $283.00 to $293.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Bank of America boosted their price target on shares of First Solar from $185.00 to $201.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $231.04.

Insider Activity at First Solar

In other news, CAO Nathan B. Theurer sold 686 shares of the business'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 value of $124,872.58. The transaction was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $199.44, for a total transaction of $462,900.24. Following the completion of the sale, the chief executive officer directly owned 81,861 shares in the company, valued at approximately $16,326,357.84. This trade represents a 2.76% decrease in their position. The disclosure for this sale can be found here. In 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 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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