Union Bancaire Privee UBP SA Boosts Holdings in First Solar, Inc. $FSLR

Key Points

• Union Bancaire Privee UBP SA increased its holdings in First Solar, Inc. by 134.6%, owning 6,466 shares worth approximately $1.07 million as of the latest SEC filing.
• First Solar reported a quarterly EPS of $3.18, surpassing estimates, and its revenue for the quarter was $1.10 billion, showing an 8.6% increase year-over-year.
• Wall Street analysts project a Moderate Buy consensus rating for First Solar, with an average price target of $228.80, reflecting positive sentiment towards the company’s growth.

Union Bancaire Privee UBP SA lifted its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 134.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,466 shares of the solar cell manufacturer's stock after acquiring an additional 3,710 shares during the quarter. Union Bancaire Privee UBP SA's holdings in First Solar were worth $1,070,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Harvest Portfolios Group Inc. lifted its stake in First Solar by 3.9% in the 1st quarter. Harvest Portfolios Group Inc. now owns 1,658 shares of the solar cell manufacturer's stock valued at $210,000 after buying an additional 63 shares in the last quarter. Legend Financial Advisors Inc. increased its holdings in shares of First Solar by 1.4% during the 1st quarter. Legend Financial Advisors Inc. now owns 4,726 shares of the solar cell manufacturer's stock worth $598,000 after buying an additional 64 shares during the last quarter. Harrington Investments INC increased its holdings in shares of First Solar by 0.5% during the 2nd quarter. Harrington Investments INC now owns 13,278 shares of the solar cell manufacturer's stock worth $2,198,000 after buying an additional 65 shares during the last quarter. Energy Income Partners LLC boosted its position in shares of First Solar by 0.8% during the 1st quarter. Energy Income Partners LLC now owns 9,257 shares of the solar cell manufacturer's stock worth $1,170,000 after purchasing an additional 72 shares during the period. Finally, Horizon Investments LLC boosted its position in shares of First Solar by 5.1% during the 1st quarter. Horizon Investments LLC now owns 1,537 shares of the solar cell manufacturer's stock worth $194,000 after purchasing an additional 74 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $220.53 on Wednesday. The company's fifty day moving average price is $198.35 and its 200 day moving average price is $166.09. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $252.90. 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 capitalization of $23.65 billion, a P/E ratio of 18.86, a P/E/G ratio of 0.44 and a beta of 1.41.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping the consensus estimate 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%. First Solar's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last 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 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FSLR. Wall Street Zen raised shares of First Solar from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Hsbc Global Res raised shares of First Solar to a "strong-buy" rating in a research report on Friday, August 1st. TD Cowen raised their price target on shares of First Solar from $220.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Jefferies Financial Group set a $194.00 price target on shares of First Solar and gave the company a "buy" rating in a research report on Tuesday, July 15th. Finally, BMO Capital Markets lifted their price objective on shares of First Solar from $194.00 to $203.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Two 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $228.80.

Insider Buying and Selling at First Solar

In other First Solar news, CEO Mark R. Widmar sold 23,912 shares of First Solar stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total value of $4,434,958.64. Following the transaction, the chief executive officer directly owned 87,978 shares in the company, valued at approximately $16,317,279.66. The trade was a 21.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Patrick James Buehler sold 1,600 shares of First Solar stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $180.00, for a total transaction of $288,000.00. Following the completion of the transaction, the insider owned 4,398 shares in the company, valued at approximately $791,640. This represents a 26.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,315 shares of company stock worth $6,021,305. 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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