Vanguard Personalized Indexing Management LLC Boosts Stock Position in First Solar, Inc. $FSLR

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in First Solar, Inc. by 34% during the second quarter, acquiring a total of 14,635 shares worth approximately $2.4 million.
• Wall Street analysts have raised price targets for First Solar, with recent targets set between $203.00 to $273.00, reflecting a positive outlook on the stock.
• First Solar reported a quarterly earnings per share of $3.18, exceeding estimates by $0.50, along with a revenue of $1.10 billion, a year-over-year increase of 8.6%.

Vanguard Personalized Indexing Management LLC grew its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 34.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,635 shares of the solar cell manufacturer's stock after purchasing an additional 3,716 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in First Solar were worth $2,423,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FSLR. Harvest Portfolios Group Inc. grew its position in First Solar by 3.9% during the 1st quarter. Harvest Portfolios Group Inc. now owns 1,658 shares of the solar cell manufacturer's stock worth $210,000 after purchasing an additional 63 shares during the last quarter. Legend Financial Advisors Inc. lifted its stake in shares of First Solar by 1.4% during the first 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 period. Harrington Investments INC lifted its stake in shares of First Solar by 0.5% during the second 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 period. Energy Income Partners LLC grew its holdings in shares of First Solar by 0.8% during the first quarter. Energy Income Partners LLC now owns 9,257 shares of the solar cell manufacturer's stock valued at $1,170,000 after buying an additional 72 shares during the last quarter. Finally, Horizon Investments LLC increased its position in shares of First Solar by 5.1% in the 1st quarter. Horizon Investments LLC now owns 1,537 shares of the solar cell manufacturer's stock valued at $194,000 after acquiring an additional 74 shares during the period. 92.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FSLR. Susquehanna lifted their price target on First Solar from $222.00 to $273.00 and gave the stock a "positive" rating in a research report on Monday. BMO Capital Markets increased their price objective on First Solar from $194.00 to $203.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Deutsche Bank Aktiengesellschaft lifted their target price on First Solar from $225.00 to $255.00 and gave the stock a "buy" rating in a report on Wednesday, October 1st. TD Cowen upped their target price on First Solar from $220.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Finally, Wall Street Zen raised shares of First Solar from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, First Solar has a consensus rating of "Moderate Buy" and an average price target of $238.72.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $244.40 on Thursday. The company has a market capitalization of $26.21 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 0.45 and a beta of 1.38. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The company's fifty day moving average price is $208.89 and its 200 day moving average price is $173.50. 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 data on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, topping 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 company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the prior year, the business posted $3.25 earnings per share. The firm's revenue for the quarter 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, research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Mark R. Widmar sold 2,321 shares of First Solar stock in a transaction on Friday, August 15th. The shares were sold at an average price of $199.44, for a total transaction of $462,900.24. Following the completion of the sale, the chief executive officer directly owned 81,861 shares of the company's stock, valued at approximately $16,326,357.84. The trade was a 2.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Nathan B. Theurer sold 686 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The disclosure for this sale can be found here. In the last three months, insiders sold 30,715 shares of company stock worth $5,733,305. 0.48% of the stock is owned by corporate insiders.

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.

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