TD Asset Management Inc Purchases 48,797 Shares of First Solar, Inc. $FSLR

TD Asset Management Inc raised its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 127.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 87,069 shares of the solar cell manufacturer’s stock after purchasing an additional 48,797 shares during the quarter. TD Asset Management Inc’s holdings in First Solar were worth $14,413,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Naviter Wealth LLC bought a new stake in shares of First Solar during the 2nd quarter valued at about $240,000. Envestnet Portfolio Solutions Inc. grew its stake in shares of First Solar by 6.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 1,877 shares of the solar cell manufacturer’s stock valued at $311,000 after purchasing an additional 111 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of First Solar during the 2nd quarter valued at about $327,000. CWM LLC grew its stake in shares of First Solar by 2,116.8% during the 2nd quarter. CWM LLC now owns 45,489 shares of the solar cell manufacturer’s stock valued at $7,530,000 after acquiring an additional 43,437 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of First Solar by 34.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,635 shares of the solar cell manufacturer’s stock valued at $2,423,000 after acquiring an additional 3,716 shares during the period. 92.08% of the stock is currently owned by institutional investors.

Insider Activity at First Solar

In other news, CAO Nathan B. Theurer sold 686 shares of the company’s 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 SEC, which can be accessed through the SEC website. Also, CEO Mark R. Widmar sold 2,321 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $199.44, for a total value of $462,900.24. Following the sale, the chief executive officer directly owned 81,861 shares in the company, valued at $16,326,357.84. This trade represents a 2.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,715 shares of company stock worth $5,733,305 over the last ninety days. Insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FSLR. Robert W. Baird boosted their price objective on First Solar from $240.00 to $264.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Wall Street Zen upgraded First Solar from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Jefferies Financial Group boosted 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. Citigroup boosted their price objective on First Solar from $198.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on First Solar from $262.00 to $278.00 and gave the company an “overweight” rating in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $240.56.

First Solar Stock Down 2.5%

NASDAQ FSLR opened at $231.85 on Friday. The stock’s 50 day moving average is $210.88 and its 200 day moving average is $175.30. 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 12 month low of $116.56 and a 12 month high of $248.04. The stock has a market cap of $24.87 billion, a PE ratio of 19.83, a P/E/G ratio of 0.44 and a beta of 1.38.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results 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. 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 for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm earned $3.25 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Research analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

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.