First Solar, Inc. $FSLR Holdings Boosted by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC boosted its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 23.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,594 shares of the solar cell manufacturer’s stock after purchasing an additional 8,153 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in First Solar were worth $7,051,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. grew its position in First Solar by 3.9% during the 1st quarter. Harvest Portfolios Group Inc. now owns 1,658 shares of the solar cell manufacturer’s stock worth $210,000 after purchasing an additional 63 shares in the last quarter. Legend Financial Advisors Inc. grew its position in First Solar by 1.4% during the 1st quarter. Legend Financial Advisors Inc. now owns 4,726 shares of the solar cell manufacturer’s stock worth $598,000 after purchasing an additional 64 shares in the last quarter. Harrington Investments INC grew its position in First Solar by 0.5% during the 2nd quarter. Harrington Investments INC now owns 13,278 shares of the solar cell manufacturer’s stock worth $2,198,000 after purchasing an additional 65 shares in the last quarter. Energy Income Partners LLC grew its position in First Solar by 0.8% during the 1st quarter. Energy Income Partners LLC now owns 9,257 shares of the solar cell manufacturer’s stock worth $1,170,000 after purchasing an additional 72 shares in the last quarter. Finally, Horizon Investments LLC grew its position in First Solar by 5.1% during the 1st quarter. Horizon Investments LLC now owns 1,537 shares of the solar cell manufacturer’s stock worth $194,000 after purchasing an additional 74 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Morgan Stanley boosted their price target on shares of First Solar from $215.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. The Goldman Sachs Group boosted their price target on shares of First Solar from $283.00 to $293.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Wolfe Research boosted their price target on shares of First Solar from $209.00 to $232.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Citigroup boosted their price target on shares of First Solar from $198.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Finally, UBS Group restated a “buy” rating and set a $275.00 price target (up from $255.00) on shares of First Solar in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $244.43.

Insiders Place Their Bets

In related news, CEO Mark R. Widmar sold 2,321 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $199.44, for a total value of $462,900.24. Following the completion of the sale, the chief executive officer directly owned 81,861 shares in the company, 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 document filed with the SEC, which is accessible through this link. Also, CAO Nathan B. Theurer sold 686 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total transaction of $124,872.58. The disclosure for this sale can be found here. Insiders sold 30,715 shares of company stock valued at $5,733,305 over the last quarter. 0.48% of the stock is currently owned by corporate insiders.

First Solar Trading Up 5.4%

Shares of NASDAQ:FSLR opened at $241.41 on Monday. The stock has a market capitalization of $25.89 billion, a PE ratio of 20.65, a P/E/G ratio of 0.46 and a beta of 1.38. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $248.04. The firm has a fifty day moving average price of $215.24 and a 200 day moving average price of $179.22. 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 (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.50. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. First Solar’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Analysts expect 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.