Michael Sweeney Sells 4,500 Shares of First Solar (NASDAQ:FSLR) Stock

First Solar, Inc. (NASDAQ:FSLR) Director Michael Sweeney sold 4,500 shares of First Solar stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $271.11, for a total value of $1,219,995.00. Following the transaction, the director directly owned 13,662 shares in the company, valued at $3,703,904.82. The trade was a 24.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

First Solar Trading Down 3.1%

Shares of FSLR stock opened at $264.15 on Wednesday. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $281.55. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. The stock has a market cap of $28.35 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 0.46 and a beta of 1.51. The stock has a 50-day moving average of $229.44 and a 200-day moving average of $190.54.

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

Institutional Trading of First Solar

Several large investors have recently made changes to their positions in FSLR. Norges Bank acquired a new position in First Solar during the 2nd quarter worth approximately $212,621,000. Nuveen LLC acquired a new stake in First Solar in the first quarter valued at approximately $114,730,000. Viking Global Investors LP increased its holdings in shares of First Solar by 60.6% during the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock valued at $375,122,000 after acquiring an additional 854,919 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of First Solar by 16,857.8% during the first quarter. Canada Pension Plan Investment Board now owns 759,033 shares of the solar cell manufacturer’s stock worth $95,965,000 after purchasing an additional 754,557 shares during the period. Finally, Invesco Ltd. raised its position in shares of First Solar by 32.3% during the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer’s stock worth $306,909,000 after purchasing an additional 592,444 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FSLR shares. Evercore ISI increased their price objective on shares of First Solar from $240.90 to $241.00 in a research report on Friday, October 31st. Guggenheim increased their price target on First Solar from $287.00 to $289.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Seaport Global Securities lifted their price objective on First Solar from $217.00 to $305.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. UBS Group boosted their price objective on First Solar from $275.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Finally, TD Cowen raised their target price on First Solar from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.