Asset Management One Co. Ltd. Has $8.13 Million Stock Position in First Solar, Inc. $FSLR

Asset Management One Co. Ltd. increased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,100 shares of the solar cell manufacturer’s stock after acquiring an additional 378 shares during the quarter. Asset Management One Co. Ltd.’s holdings in First Solar were worth $8,128,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers increased its holdings in shares of First Solar by 10.9% during the 1st quarter. Cetera Investment Advisers now owns 25,437 shares of the solar cell manufacturer’s stock worth $3,216,000 after acquiring an additional 2,510 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of 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. Hunter Associates Investment Management LLC acquired a new position in shares of First Solar during the 1st quarter worth approximately $272,000. Raymond James Financial Inc. increased its holdings in shares of First Solar by 57.2% during the 1st quarter. Raymond James Financial Inc. now owns 43,991 shares of the solar cell manufacturer’s stock worth $5,562,000 after acquiring an additional 16,003 shares during the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. increased its holdings in shares of First Solar by 18.2% during the 1st quarter. Sumitomo Mitsui Financial Group Inc. now owns 101,659 shares of the solar cell manufacturer’s stock worth $12,853,000 after acquiring an additional 15,656 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at First Solar

In related news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark R. Widmar sold 2,321 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $199.44, for a total value of $462,900.24. Following the completion of the transaction, the chief executive officer directly owned 81,861 shares of the company’s stock, valued at approximately $16,326,357.84. The trade was a 2.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,715 shares of company stock valued at $5,733,305. 0.48% of the stock is owned by corporate insiders.

First Solar Price Performance

Shares of FSLR stock opened at $247.69 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $249.56. The company has a market cap of $26.56 billion, a P/E ratio of 21.19, a P/E/G ratio of 0.46 and a beta of 1.38. The business has a fifty day simple moving average of $215.80 and a 200 day simple moving average of $180.04.

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Guggenheim boosted their price target on First Solar from $202.00 to $287.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. BMO Capital Markets boosted their price target on First Solar from $194.00 to $203.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Wall Street Zen upgraded First Solar from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Citigroup boosted their price target on First Solar from $198.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Finally, Evercore ISI assumed coverage on First Solar in a research note on Monday, October 6th. They issued an “in-line” rating and a $240.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $245.37.

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.