Vident Advisory LLC Boosts Stock Position in First Solar, Inc. $FSLR

Key Points

• Vident Advisory LLC increased its stake in First Solar, Inc. by 39.8%, holding 4,647 shares valued at $588,000 as of the latest SEC filing.
• Multiple analysts have raised their price targets for First Solar, with Bank of America setting a new target at $201.00 and Goldman Sachs at $255.00, while the stock has a consensus rating of "Moderate Buy."
• The company's recent quarterly earnings showed an EPS of $3.18, surpassing estimates and indicating a year-over-year revenue increase of 8.6%.

Vident Advisory LLC raised its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 39.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,647 shares of the solar cell manufacturer's stock after buying an additional 1,323 shares during the quarter. Vident Advisory LLC's holdings in First Solar were worth $588,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FSLR. Cetera Investment Advisers grew its position in First Solar by 10.9% during the 1st quarter. Cetera Investment Advisers now owns 25,437 shares of the solar cell manufacturer's stock worth $3,216,000 after purchasing an additional 2,510 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in First Solar by 396.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 11,777 shares of the solar cell manufacturer's stock worth $1,489,000 after purchasing an additional 9,405 shares during the last quarter. Asset Management One Co. Ltd. grew its position in First Solar by 7.1% during the 1st quarter. Asset Management One Co. Ltd. now owns 48,722 shares of the solar cell manufacturer's stock worth $6,160,000 after purchasing an additional 3,226 shares during the last quarter. Vontobel Holding Ltd. grew its position in First Solar by 14.2% during the 1st quarter. Vontobel Holding Ltd. now owns 189,320 shares of the solar cell manufacturer's stock worth $23,936,000 after purchasing an additional 23,528 shares during the last quarter. Finally, Oakworth Capital Inc. grew its position in First Solar by 24.7% during the 1st quarter. Oakworth Capital Inc. now owns 9,682 shares of the solar cell manufacturer's stock worth $1,224,000 after purchasing an additional 1,916 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on FSLR. JPMorgan Chase & Co. boosted their target price on shares of First Solar from $200.00 to $208.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Susquehanna raised their price objective on First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a research note on Friday, August 1st. Bank of America raised their price objective on First Solar from $185.00 to $201.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Jefferies Financial Group set a $194.00 price objective on First Solar and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Finally, Hsbc Global Res upgraded First Solar to a "strong-buy" rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, First Solar currently has a consensus rating of "Moderate Buy" and a consensus target price of $225.84.

Insider Buying and Selling

In related news, CEO Mark R. Widmar sold 2,321 shares of the 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 sale, the chief executive officer directly owned 81,861 shares of the company's stock, valued at approximately $16,326,357.84. This represents a 2.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Patrick James Buehler sold 1,600 shares of the 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 sale, the insider directly owned 4,398 shares in the company, valued at $791,640. This trade 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 valued at $6,021,305. Corporate insiders own 0.48% of the company's stock.

First Solar Stock Performance

FSLR stock traded down $1.61 during trading on Friday, hitting $201.70. 1,238,781 shares of the company traded hands, compared to its average volume of 3,216,098. The stock's 50-day simple moving average is $187.50 and its 200 day simple moving average is $159.30. 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 company has a market cap of $21.63 billion, a PE ratio of 17.25, a P/E/G ratio of 0.40 and a beta of 1.41. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $262.72.

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 the consensus estimate of $2.68 by $0.50. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the business earned $3.25 earnings per share. First Solar'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. On average, equities analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

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.