TD Asset Management Inc Purchases 48,797 Shares of First Solar, Inc. $FSLR

Key Points

• TD Asset Management Inc increased its stake in First Solar, Inc. by 127.5%, acquiring an additional 48,797 shares, bringing total holdings to 87,069 shares worth approximately $14.4 million.
• Multiple institutional investors are boosting their positions in First Solar, with 92.08% of the company's stock now owned by institutional investors.
• Wall Street analysts have generally positive views on First Solar, with a current consensus rating of "Moderate Buy" and an average price target of $240.56.

TD Asset Management Inc lifted its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 127.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 87,069 shares of the solar cell manufacturer's stock after purchasing an additional 48,797 shares during the period. TD Asset Management Inc owned about 0.08% of First Solar worth $14,413,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cetera Investment Advisers grew its holdings in shares of First Solar by 10.9% in the first quarter. Cetera Investment Advisers now owns 25,437 shares of the solar cell manufacturer's stock worth $3,216,000 after purchasing an additional 2,510 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in First Solar by 396.5% in the first quarter. Oppenheimer & Co. Inc. now owns 11,777 shares of the solar cell manufacturer's stock valued at $1,489,000 after acquiring an additional 9,405 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in First Solar by 7.1% in the first quarter. Asset Management One Co. Ltd. now owns 48,722 shares of the solar cell manufacturer's stock valued at $6,160,000 after acquiring an additional 3,226 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in First Solar by 14.2% in the first quarter. Vontobel Holding Ltd. now owns 189,320 shares of the solar cell manufacturer's stock valued at $23,936,000 after acquiring an additional 23,528 shares in the last quarter. Finally, Oakworth Capital Inc. boosted its holdings in First Solar by 24.7% in the first quarter. Oakworth Capital Inc. now owns 9,682 shares of the solar cell manufacturer's stock valued at $1,224,000 after acquiring an additional 1,916 shares in the last quarter. Institutional investors own 92.08% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FSLR. Wall Street Zen upgraded shares of First Solar from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Morgan Stanley raised their price objective on First Solar from $215.00 to $253.00 and gave the company an "overweight" rating in a research report on Thursday. The Goldman Sachs Group raised their price objective on First Solar from $283.00 to $293.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. BMO Capital Markets raised their price objective on First Solar from $194.00 to $203.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, UBS Group reissued a "buy" rating and set a $275.00 price objective (up previously from $255.00) on shares of First Solar in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, First Solar presently has a consensus rating of "Moderate Buy" and an average price target of $240.56.

Insider Transactions at First Solar

In other First Solar news, CAO Nathan B. Theurer sold 686 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $182.03, for a total value of $124,872.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark R. Widmar sold 23,912 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total value of $4,434,958.64. Following the completion of the transaction, the chief executive officer directly owned 87,978 shares of the company's stock, valued at approximately $16,317,279.66. This trade represents a 21.37% 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 valued at $5,733,305. 0.48% of the stock is owned by insiders.

First Solar Price Performance

FSLR opened at $231.85 on Friday. The stock has a 50-day moving average price of $210.88 and a 200-day moving average price of $175.30. 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 market cap of $24.87 billion, a PE ratio of 19.83, a P/E/G ratio of 0.44 and a beta of 1.38. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $248.04.

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, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm earned $3.25 EPS. First Solar'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 fiscal year.

First Solar Company 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.

Want to see what other hedge funds are holding FSLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Solar, Inc. (NASDAQ:FSLR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.