Optimum Investment Advisors Sells 500 Shares of First Solar, Inc. $FSLR

Optimum Investment Advisors lowered its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 57.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 375 shares of the solar cell manufacturer’s stock after selling 500 shares during the quarter. Optimum Investment Advisors’ holdings in First Solar were worth $62,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Cetera Investment Advisers boosted its position 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 worth $3,216,000 after purchasing an additional 2,510 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake 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 buying an additional 9,405 shares during the period. Asset Management One Co. Ltd. lifted its holdings in First Solar by 7.1% during the first 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 in the last quarter. Vontobel Holding Ltd. grew its stake in First Solar by 14.2% in the first quarter. Vontobel Holding Ltd. now owns 189,320 shares of the solar cell manufacturer’s stock valued at $23,936,000 after acquiring an additional 23,528 shares during the period. Finally, Hunter Associates Investment Management LLC bought a new stake in shares of First Solar in the first quarter worth about $272,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FSLR shares. TD Cowen lifted their price objective on First Solar from $220.00 to $240.00 and gave the company a “buy” rating in a report on Friday, September 12th. Wolfe Research raised their target price on shares of First Solar from $209.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday. 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, October 16th. Needham & Company LLC initiated coverage on shares of First Solar in a research report on Wednesday. They set a “buy” rating and a $286.00 price objective for the company. Finally, Mizuho boosted their price objective on shares of First Solar from $275.00 to $278.00 and gave the company an “outperform” rating in a research report on Monday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.43.

Insider Activity

In other First Solar news, CEO Mark R. Widmar sold 23,912 shares of the business’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 transaction, the chief executive officer owned 87,978 shares of the company’s stock, valued at $16,317,279.66. The trade was a 21.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $124,872.58. The disclosure for this sale can be found here. Insiders sold a total of 30,715 shares of company stock valued at $5,733,305 in the last 90 days. 0.48% of the stock is owned by corporate insiders.

First Solar Price Performance

NASDAQ FSLR opened at $241.41 on Friday. The firm’s 50 day moving average is $215.24 and its 200-day moving average is $178.87. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $25.89 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 0.46 and a beta of 1.38. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $248.04.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, beating 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 business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm earned $3.25 earnings per share. The firm’s revenue for the quarter 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. Equities research analysts anticipate 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.