Everett Harris & Co. CA Invests $281,000 in First Solar, Inc. $FSLR

Everett Harris & Co. CA bought a new position in shares of First Solar, Inc. (NASDAQ:FSLR) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 1,700 shares of the solar cell manufacturer’s stock, valued at approximately $281,000.

Several other institutional investors also recently bought and sold shares of FSLR. PNC Financial Services Group Inc. boosted its position in First Solar by 40.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 20,441 shares of the solar cell manufacturer’s stock worth $3,384,000 after purchasing an additional 5,850 shares in the last quarter. denkapparat Operations GmbH acquired a new position in shares of First Solar in the 2nd quarter valued at $211,000. Quinn Opportunity Partners LLC boosted its holdings in First Solar by 6.3% during the second quarter. Quinn Opportunity Partners LLC now owns 46,250 shares of the solar cell manufacturer’s stock worth $7,656,000 after buying an additional 2,750 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in First Solar by 36.6% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 58,607 shares of the solar cell manufacturer’s stock valued at $9,702,000 after buying an additional 15,708 shares during the period. Finally, SBI Securities Co. Ltd. increased its holdings in First Solar by 33.8% in the second quarter. SBI Securities Co. Ltd. now owns 973 shares of the solar cell manufacturer’s stock valued at $161,000 after buying an additional 246 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Stock Performance

FSLR opened at $267.52 on Thursday. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $281.55. The firm has a market capitalization of $28.71 billion, a PE ratio of 22.88, a PEG ratio of 0.46 and a beta of 1.51. 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 firm’s 50-day moving average price is $230.76 and its 200 day moving average price is $191.07.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 79.7% compared to the same quarter last year. During the same period last year, the business earned $2.91 earnings per share. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. As a group, sell-side analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling

In other First Solar news, insider Georges Antoun sold 37,412 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $265.01, for a total transaction 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. The trade was a 70.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 51,233 shares of company stock worth $13,434,249. 0.48% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wolfe Research increased their target price on shares of First Solar from $232.00 to $247.00 in a research note on Friday, October 31st. Evercore ISI increased their price target on First Solar from $240.90 to $241.00 in a research report on Friday, October 31st. Royal Bank Of Canada raised their price objective on First Solar from $201.00 to $244.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Mizuho upped their target price on First Solar from $278.00 to $335.00 in a research note on Friday, October 31st. Finally, Barclays reissued an “overweight” rating and issued a $279.00 price target on shares of First Solar in a research note on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $270.17.

First Solar Company 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.