Temasek Holdings Private Ltd Buys 117,740 Shares of First Solar, Inc. $FSLR

Key Points

• Temasek Holdings increased its stake in First Solar, Inc. by an impressive 9,113% this quarter, owning a total of 119,032 shares valued at approximately $15 million.
• Multiple analysts have raised their target prices for First Solar, with Goldman Sachs increasing its target to $255 and Guggenheim to $287, reflecting strong confidence in the company's future performance.
• CEO Mark R. Widmar sold 23,912 shares at an average price of $185.47, indicating a 21.37% decrease in his ownership, while insiders have sold over 32,000 shares in recent months.

Temasek Holdings Private Ltd lifted its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 9,113.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,032 shares of the solar cell manufacturer's stock after purchasing an additional 117,740 shares during the period. Temasek Holdings Private Ltd owned approximately 0.11% of First Solar worth $15,049,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FSLR. Garde Capital Inc. acquired a new stake in shares of First Solar in the first quarter valued at about $25,000. Wealth Preservation Advisors LLC acquired a new position in shares of First Solar in the first quarter valued at approximately $25,000. Larson Financial Group LLC raised 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 buying an additional 219 shares during the last quarter. Colonial Trust Advisors acquired a new position in shares of First Solar in the first quarter valued at approximately $32,000. Finally, Abound Financial LLC acquired a new position in shares of First Solar in the first quarter valued at approximately $45,000. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Price Performance

Shares of NASDAQ:FSLR traded up $0.73 during trading hours on Wednesday, hitting $203.79. 1,691,345 shares of the company's stock traded hands, compared to its average volume of 3,749,283. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $262.72. The company's fifty day simple moving average is $186.15 and its two-hundred day simple moving average is $158.26. The company has a market cap of $21.86 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 0.40 and a beta of 1.41. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90.

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 analysts' consensus estimates of $2.68 by $0.50. The business had revenue of $1.10 billion during 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 firm's revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, equities analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling at First Solar

In other First Solar news, insider Patrick James Buehler sold 1,600 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $180.00, for a total value of $288,000.00. Following the sale, the insider owned 4,398 shares of the company's stock, valued at $791,640. The trade was a 26.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mark R. Widmar sold 23,912 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 87,978 shares of the company's stock, valued at approximately $16,317,279.66. This represents a 21.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,315 shares of company stock worth $6,021,305 over the last 90 days. Insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

FSLR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of First Solar from $200.00 to $208.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Guggenheim upped their target price 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. Bank of America increased their price objective on shares of First Solar from $185.00 to $201.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Wolfe Research upgraded shares of First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price objective on the stock in a research note on Tuesday, May 13th. Finally, BMO Capital Markets increased their target price on shares of First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $225.84.

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.