Demars Financial Group LLC Sells 606,519 Shares of First Solar, Inc. $FSLR

Demars Financial Group LLC decreased its holdings in First Solar, Inc. (NASDAQ:FSLR) by 98.9% in the second quarter, Holdings Channel.com reports. The firm owned 6,540 shares of the solar cell manufacturer’s stock after selling 606,519 shares during the period. First Solar makes up approximately 0.4% of Demars Financial Group LLC’s investment portfolio, making the stock its 24th biggest position. Demars Financial Group LLC’s holdings in First Solar were worth $1,083,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Cetera Investment Advisers grew its stake in shares of First Solar by 10.9% during the first quarter. Cetera Investment Advisers now owns 25,437 shares of the solar cell manufacturer’s stock valued at $3,216,000 after buying an additional 2,510 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings 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 valued at $1,489,000 after acquiring an additional 9,405 shares during the period. 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 acquiring 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 acquiring an additional 23,528 shares during the last quarter. Finally, Oakworth Capital Inc. increased its stake in First Solar by 24.7% in 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 period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FSLR. Bank of America increased their price objective on First Solar from $209.00 to $254.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. JPMorgan Chase & Co. upped their price target on shares of First Solar from $262.00 to $278.00 and gave the company an “overweight” rating in a report on Thursday. Citigroup raised their price target on shares of First Solar from $198.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Robert W. Baird upped their price objective on shares of First Solar from $240.00 to $264.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Solar in a research note on Wednesday, October 8th. Two investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and an average price target of $240.56.

First Solar Stock Performance

Shares of NASDAQ:FSLR opened at $231.85 on Monday. The company has a market cap of $24.87 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 0.44 and a beta of 1.38. The company has a 50-day moving average price of $210.88 and a 200-day moving average price of $175.58. 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.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company 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. As a group, equities analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity

In related news, CAO Nathan B. Theurer sold 686 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were 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 is accessible through this link. Also, CEO Mark R. Widmar sold 23,912 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold 30,715 shares of company stock worth $5,733,305 in the last quarter. 0.48% of the stock is owned by corporate insiders.

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.