Wellington Management Group LLP Has $349.62 Million Holdings in First Solar, Inc. $FSLR

Key Points

• Wellington Management Group LLP increased its stake in First Solar, Inc. by 17.2%, now owning approximately $349.62 million worth of shares.
• First Solar's quarterly earnings report outperformed expectations, with an EPS of $3.18 and revenue of $1.10 billion, surpassing consensus estimates.
• Wall Street analysts have largely rated First Solar with a consensus of "Moderate Buy" and set target prices ranging up to $275.00.

Wellington Management Group LLP boosted its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 17.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,765,303 shares of the solar cell manufacturer's stock after purchasing an additional 405,457 shares during the quarter. Wellington Management Group LLP owned about 2.58% of First Solar worth $349,617,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FSLR. Nuveen LLC bought a new stake in shares of First Solar in the 1st quarter valued at about $114,730,000. Invesco Ltd. increased its stake in First Solar by 32.3% in the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer's stock valued at $306,909,000 after purchasing an additional 592,444 shares in the last quarter. Vanguard Group Inc. raised its holdings in First Solar by 3.0% in the first quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer's stock worth $1,668,919,000 after purchasing an additional 378,641 shares during the period. Royal Bank of Canada boosted its position in shares of First Solar by 218.6% during the fourth quarter. Royal Bank of Canada now owns 446,799 shares of the solar cell manufacturer's stock worth $78,744,000 after purchasing an additional 306,581 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of First Solar by 30.7% in the 4th quarter. Northern Trust Corp now owns 1,248,552 shares of the solar cell manufacturer's stock valued at $220,045,000 after buying an additional 293,134 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Stock Down 3.8%

Shares of FSLR stock opened at $210.96 on Wednesday. The firm's fifty day moving average price is $173.37 and its two-hundred day moving average price is $154.47. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $262.72. The firm has a market capitalization of $22.63 billion, a P/E ratio of 18.05, a PEG ratio of 0.43 and a beta of 1.48.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.50. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The company's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, equities analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FSLR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on First Solar from $200.00 to $208.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Jefferies Financial Group set a $194.00 price objective on First Solar and gave the company a "buy" rating in a research report on Tuesday, July 15th. UBS Group restated a "buy" rating and set a $275.00 target price (up from $255.00) on shares of First Solar in a report on Tuesday, August 5th. Wall Street Zen raised shares of First Solar from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Susquehanna increased their price objective on shares of First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $222.44.

Insider Activity

In other news, CEO Mark R. Widmar sold 23,912 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the sale, the chief executive officer owned 87,978 shares in the company, valued at $16,317,279.66. This represents a 21.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Nathan B. Theurer sold 686 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total value of $124,872.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,691 shares of company stock worth $8,248,477. Corporate insiders own 0.48% of the company's stock.

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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