J. Safra Sarasin Holding AG Purchases 13,618 Shares of First Solar, Inc. $FSLR

J. Safra Sarasin Holding AG raised its position in First Solar, Inc. (NASDAQ:FSLR) by 30.8% in the second quarter, HoldingsChannel.com reports. The fund owned 57,859 shares of the solar cell manufacturer’s stock after purchasing an additional 13,618 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in First Solar were worth $9,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Nuveen LLC acquired a new stake in First Solar in the 1st quarter valued at about $114,730,000. Canada Pension Plan Investment Board increased its position in 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 buying an additional 754,557 shares during the last quarter. Invesco Ltd. raised its stake in First Solar by 32.3% in the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer’s stock valued at $306,909,000 after buying an additional 592,444 shares during the period. Jones Financial Companies Lllp lifted its position in shares of First Solar by 22,107.8% in the first quarter. Jones Financial Companies Lllp now owns 512,556 shares of the solar cell manufacturer’s stock valued at $64,802,000 after buying an additional 510,248 shares during the last quarter. Finally, Hill City Capital LP boosted its stake in shares of First Solar by 59.4% during the 1st quarter. Hill City Capital LP now owns 1,355,000 shares of the solar cell manufacturer’s stock worth $171,313,000 after acquiring an additional 505,000 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at First Solar

In related news, CEO Mark R. Widmar sold 2,321 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $199.44, for a total value of $462,900.24. Following the transaction, the chief executive officer owned 81,861 shares in the company, valued at approximately $16,326,357.84. This trade represents a 2.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Nathan B. Theurer sold 686 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $182.03, for a total value of $124,872.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,715 shares of company stock worth $5,733,305. 0.48% of the stock is currently owned by insiders.

First Solar Stock Up 3.3%

Shares of FSLR opened at $232.13 on Friday. 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, Inc. has a 12 month low of $116.56 and a 12 month high of $240.60. The firm’s 50 day moving average is $200.28 and its 200-day moving average is $167.18. The stock has a market capitalization of $24.90 billion, a PE ratio of 19.86, a P/E/G ratio of 0.44 and a beta of 1.38.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results 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. 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 for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the business posted $3.25 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Equities research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Analysts Set New Price Targets

FSLR has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their target price on First Solar from $194.00 to $203.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Susquehanna lifted their price objective on shares of First Solar from $203.00 to $222.00 and gave the stock a “positive” rating in a research report on Friday, August 1st. Glj Research reiterated a “buy” rating and issued a $214.06 price objective (up from $172.53) on shares of First Solar in a report on Tuesday, August 12th. Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a research note on Friday, August 1st. Finally, Guggenheim lifted their target price on shares of First Solar from $202.00 to $287.00 and gave the stock a “buy” rating in a report on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and an average target price of $231.04.

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.