Figure 8 Investment Strategies LLC Sells 785 Shares of First Solar, Inc. $FSLR

Figure 8 Investment Strategies LLC lessened its stake in First Solar, Inc. (NASDAQ:FSLR) by 8.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 8,068 shares of the solar cell manufacturer’s stock after selling 785 shares during the quarter. Figure 8 Investment Strategies LLC’s holdings in First Solar were worth $1,336,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FSLR. Sava Infond d.o.o. increased its holdings in First Solar by 136.8% in the 2nd quarter. Sava Infond d.o.o. now owns 4,500 shares of the solar cell manufacturer’s stock valued at $745,000 after acquiring an additional 2,600 shares during the last quarter. Cromwell Holdings LLC boosted its holdings in shares of First Solar by 534.5% during the 2nd quarter. Cromwell Holdings LLC now owns 368 shares of the solar cell manufacturer’s stock valued at $61,000 after purchasing an additional 310 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of First Solar by 49.3% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,251 shares of the solar cell manufacturer’s stock valued at $10,471,000 after purchasing an additional 20,884 shares in the last quarter. J. Safra Sarasin Holding AG increased its stake in First Solar by 30.8% in the 2nd quarter. J. Safra Sarasin Holding AG now owns 57,859 shares of the solar cell manufacturer’s stock worth $9,578,000 after acquiring an additional 13,618 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of First Solar by 12.0% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 141,503 shares of the solar cell manufacturer’s stock worth $23,424,000 after acquiring an additional 15,193 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

Insider Activity at First Solar

In related news, CAO Nathan B. Theurer sold 686 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total value of $124,872.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark R. Widmar sold 2,321 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 81,861 shares in the company, valued at approximately $16,326,357.84. This trade represents a 2.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,715 shares of company stock valued at $5,733,305 in the last ninety days. Insiders own 0.48% of the company’s stock.

First Solar Stock Performance

FSLR stock opened at $230.13 on Friday. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $240.60. The firm has a market cap of $24.68 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 0.46 and a beta of 1.38. The business’s fifty day simple moving average is $201.18 and its two-hundred day simple moving average is $167.89. 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 (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.50. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FSLR shares. BMO Capital Markets raised their target price on shares of First Solar from $194.00 to $203.00 and gave the company 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 note on Friday, August 1st. Wall Street Zen upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Royal Bank Of Canada increased their price target on shares of First Solar from $188.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday, July 1st. Finally, Glj Research reissued a “buy” rating and set a $214.06 price objective (up from $172.53) on shares of First Solar in a research note on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $231.04.

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.