Georges Antoun Sells 37,412 Shares of First Solar (NASDAQ:FSLR) Stock

First Solar, Inc. (NASDAQ:FSLR) insider Georges Antoun sold 37,412 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $265.01, for a total value of $9,914,554.12. Following the transaction, the insider owned 15,424 shares of the company’s stock, valued at approximately $4,087,514.24. This represents a 70.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

First Solar Stock Down 1.6%

FSLR opened at $267.64 on Friday. The stock’s 50 day moving average price is $226.52 and its 200 day moving average price is $187.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41. The stock has a market cap of $28.72 billion, a P/E ratio of 22.89, a P/E/G ratio of 0.46 and a beta of 1.51. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $281.55.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.56 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The company’s revenue was up 79.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.91 EPS. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. As a group, research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Institutional Investors Weigh In On First Solar

A number of institutional investors and hedge funds have recently modified their holdings of FSLR. Linden Thomas Advisory Services LLC grew its holdings in shares of First Solar by 1.7% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer’s stock worth $504,000 after acquiring an additional 39 shares during the last quarter. Signaturefd LLC boosted its position in shares of First Solar by 2.6% in the 3rd quarter. Signaturefd LLC now owns 1,879 shares of the solar cell manufacturer’s stock valued at $414,000 after purchasing an additional 47 shares during the period. Figure 8 Investment Strategies LLC increased its stake in First Solar by 0.6% in the 3rd quarter. Figure 8 Investment Strategies LLC now owns 8,116 shares of the solar cell manufacturer’s stock worth $1,790,000 after purchasing an additional 48 shares in the last quarter. Hemington Wealth Management increased its stake in First Solar by 22.9% in the 3rd quarter. Hemington Wealth Management now owns 306 shares of the solar cell manufacturer’s stock worth $67,000 after purchasing an additional 57 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in First Solar by 14.9% during the 3rd quarter. Assetmark Inc. now owns 448 shares of the solar cell manufacturer’s stock worth $99,000 after buying an additional 58 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

FSLR has been the topic of several research analyst reports. Jefferies Financial Group set a $269.00 target price on shares of First Solar and gave the company a “buy” rating in a research note on Friday, October 31st. Morgan Stanley set a $275.00 price target on shares of First Solar in a research note on Friday, October 31st. TD Cowen raised their price objective on shares of First Solar from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Royal Bank Of Canada upped their target price on First Solar from $201.00 to $244.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Finally, Wells Fargo & Company increased their price target on First Solar from $213.00 to $270.00 in a research note on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $270.17.

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.