Blume Capital Management Inc. Makes New $971,000 Investment in First Solar, Inc. $FSLR

Blume Capital Management Inc. acquired a new stake in First Solar, Inc. (NASDAQ:FSLR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,863 shares of the solar cell manufacturer’s stock, valued at approximately $971,000.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in First Solar by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer’s stock worth $1,668,919,000 after purchasing an additional 378,641 shares during the period. Wellington Management Group LLP boosted its stake in shares of First Solar by 17.2% during the first quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer’s stock worth $349,617,000 after buying an additional 405,457 shares during the period. Invesco Ltd. boosted its stake 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 buying an additional 592,444 shares during the period. Samlyn Capital LLC increased its position in First Solar by 6.3% in the 1st quarter. Samlyn Capital LLC now owns 1,741,794 shares of the solar cell manufacturer’s stock valued at $220,215,000 after acquiring an additional 103,403 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in First Solar by 20.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,741,026 shares of the solar cell manufacturer’s stock valued at $220,118,000 after acquiring an additional 290,112 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity at First Solar

In related news, CAO Nathan B. Theurer sold 686 shares of the company’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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark R. Widmar sold 2,321 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 81,861 shares of the company’s stock, valued at $16,326,357.84. The trade was a 2.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,715 shares of company stock worth $5,733,305 in the last three months. Corporate insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. TD Cowen lifted their target price on First Solar from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Robert W. Baird increased their price target on First Solar from $240.00 to $264.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a research note on Friday, August 1st. Guggenheim upped their price objective on shares of First Solar from $202.00 to $287.00 and gave the stock a “buy” rating in a research report on Friday, August 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Solar in a report on Wednesday, October 8th. 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $242.32.

First Solar Stock Performance

NASDAQ:FSLR opened at $226.85 on Wednesday. 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, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $248.04. The stock has a market cap of $24.33 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 0.44 and a beta of 1.38. The firm’s fifty day simple moving average is $212.66 and its 200-day simple moving average is $176.63.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating the consensus estimate of $2.68 by $0.50. The firm had revenue of $1.10 billion during 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% compared to the same quarter last year. During the same quarter last year, the business earned $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

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.