UniSuper Management Pty Ltd Sells 76,880 Shares of First Solar, Inc. $FSLR

Key Points

• UniSuper Management Pty Ltd reduced its stake in First Solar, Inc. by 59.6%, selling 76,880 shares and now holding 52,019 shares worth approximately $6.57 million.
• First Solar posted earnings of $3.18 per share for the latest quarter, exceeding analysts' expectations of $2.68, with a revenue increase of 8.6% year-over-year.
• Analysts have raised price targets for First Solar, with Goldman Sachs setting a target of $255.00 and Guggenheim raising theirs to $287.00, indicating a strong buy outlook.

UniSuper Management Pty Ltd cut its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 59.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,019 shares of the solar cell manufacturer's stock after selling 76,880 shares during the period. UniSuper Management Pty Ltd's holdings in First Solar were worth $6,577,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Garde Capital Inc. bought a new stake in First Solar in the 1st quarter valued at $25,000. Wealth Preservation Advisors LLC acquired a new stake in shares of First Solar during the 1st quarter worth about $25,000. Colonial Trust Advisors acquired a new stake in shares of First Solar during the 1st quarter worth about $32,000. Larson Financial Group LLC increased its position 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 worth $32,000 after purchasing an additional 219 shares in the last quarter. Finally, Abound Financial LLC acquired a new stake in shares of First Solar during the 1st quarter worth about $45,000. 92.08% of the stock is owned by institutional investors.

First Solar Stock Performance

Shares of FSLR opened at $205.14 on Monday. 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, Inc. has a twelve month low of $116.56 and a twelve month high of $262.72. The firm's 50 day moving average price is $184.59 and its two-hundred day moving average price is $157.61. The firm has a market cap of $22.00 billion, a P/E ratio of 17.55, a PEG ratio of 0.40 and a beta of 1.40.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.50. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The firm 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 business's revenue was up 8.6% on a year-over-year basis. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of First Solar from $204.00 to $255.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Guggenheim raised 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. Mizuho raised their target price 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. UBS Group reaffirmed a "buy" rating and issued a $275.00 target price (up previously from $255.00) on shares of First Solar in a research note on Tuesday, August 5th. Finally, Royal Bank Of Canada raised their target price on shares of First Solar from $188.00 to $200.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $225.84.

Insider Transactions at First Solar

In other news, CAO Nathan B. Theurer sold 686 shares of the business's stock in a transaction on Thursday, August 14th. The shares were 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 SEC, which is accessible through this link. Also, insider Patrick James Buehler sold 1,600 shares of the business's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total transaction of $288,000.00. Following the completion of the sale, the insider directly owned 4,398 shares in the company, valued at approximately $791,640. This represents a 26.68% 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 valued at $6,021,305 over the last 90 days. 0.48% of the stock is owned by corporate 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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