US Bancorp DE Raises Position in First Solar, Inc. $FSLR

Key Points

• US Bancorp DE increased its position in First Solar, Inc. by 12.1% during the second quarter, acquiring a total of 24,578 shares valued at approximately $4 million.
• Insider selling was notable, with CEO Mark R. Widmar selling 23,912 shares for around $4.43 million, resulting in a 21.37% decrease in his position, while insiders overall sold over $5.7 million worth of stock in recent months.
• Equities analysts have raised their target prices for First Solar, with estimates ranging from $200 to $287, leading to a consensus rating of "Moderate Buy" and an average target price of approximately $234.04.

US Bancorp DE grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 12.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,578 shares of the solar cell manufacturer's stock after purchasing an additional 2,659 shares during the period. US Bancorp DE's holdings in First Solar were worth $4,069,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Mirova US LLC lifted its holdings in shares of First Solar by 5.6% during the 2nd quarter. Mirova US LLC now owns 944,931 shares of the solar cell manufacturer's stock valued at $156,424,000 after purchasing an additional 50,315 shares during the last quarter. Trust Asset Management LLC purchased a new position in First Solar in the 2nd quarter worth $202,000. Shell Asset Management Co. raised its stake in First Solar by 150.6% in the 2nd quarter. Shell Asset Management Co. now owns 8,181 shares of the solar cell manufacturer's stock worth $1,354,000 after acquiring an additional 4,916 shares during the last quarter. Slow Capital Inc. raised its stake in First Solar by 11.9% in the 2nd quarter. Slow Capital Inc. now owns 48,978 shares of the solar cell manufacturer's stock worth $8,108,000 after acquiring an additional 5,221 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC raised its stake in First Solar by 218.8% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 18,278 shares of the solar cell manufacturer's stock worth $3,026,000 after acquiring an additional 12,544 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

Insider Buying and Selling

In other First Solar news, CAO Nathan B. Theurer sold 686 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total transaction of $124,872.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark R. Widmar sold 23,912 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $16,317,279.66. The trade was a 21.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,715 shares of company stock valued at $5,733,305 in the last three months. Insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FSLR shares. Royal Bank Of Canada raised their target price on First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Guggenheim raised their target price on First Solar from $202.00 to $287.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. TD Cowen raised their target price on First Solar from $220.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Jefferies Financial Group lifted their price objective on First Solar from $212.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Finally, Susquehanna lifted their price objective on First Solar from $222.00 to $273.00 and gave the company a "positive" rating in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $234.04.

First Solar Price Performance

NASDAQ:FSLR opened at $226.15 on Tuesday. First Solar, Inc. has a 52 week low of $116.56 and a 52 week 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 stock has a market capitalization of $24.25 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 0.45 and a beta of 1.38. The stock's 50-day moving average price is $206.95 and its 200-day moving average price is $172.65.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the firm earned $3.25 EPS. The company's quarterly 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. As a group, equities analysts expect that First Solar, Inc. will post 13.05 EPS 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.

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