OVERSEA CHINESE BANKING Corp Ltd Acquires 510 Shares of First Solar, Inc. $FSLR

OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 2.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 20,179 shares of the solar cell manufacturer’s stock after purchasing an additional 510 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in First Solar were worth $3,340,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in FSLR. Nuveen LLC bought a new position in First Solar in the 1st quarter worth approximately $114,730,000. Canada Pension Plan Investment Board grew its holdings in shares of First Solar by 16,857.8% during the 1st 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 in the last quarter. Invesco Ltd. grew its holdings in shares of First Solar by 32.3% during the 1st 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 in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of First Solar by 22,107.8% during the 1st quarter. Jones Financial Companies Lllp now owns 512,556 shares of the solar cell manufacturer’s stock worth $64,802,000 after purchasing an additional 510,248 shares in the last quarter. Finally, Hill City Capital LP grew its holdings 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 purchasing an additional 505,000 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

First Solar Price Performance

First Solar stock opened at $247.69 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The firm has a market cap of $26.56 billion, a P/E ratio of 21.19, a P/E/G ratio of 0.46 and a beta of 1.38. The business’s fifty day moving average is $215.80 and its two-hundred day moving average is $180.04. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $249.56.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data 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 company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.25 earnings per share. 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 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Solar news, CAO Nathan B. Theurer sold 686 shares of the business’s stock in a transaction 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 document filed with the SEC, which is available at this link. Also, CEO Mark R. Widmar sold 23,912 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total value of $4,434,958.64. Following the completion of the transaction, the chief executive officer directly owned 87,978 shares in the company, valued at approximately $16,317,279.66. This represents a 21.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,715 shares of company stock worth $5,733,305. Insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FSLR. Mizuho lifted their price objective on First Solar from $275.00 to $278.00 and gave the stock an “outperform” rating in a report on Monday, July 14th. JPMorgan Chase & Co. lifted their price objective on First Solar from $262.00 to $278.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Evercore ISI began coverage on First Solar in a report on Monday, October 6th. They set an “in-line” rating and a $240.00 price objective on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of First Solar in a report on Wednesday, October 8th. Finally, TD Cowen upped their price target on First Solar from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $245.37.

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.