Quadrant Private Wealth Management LLC Sells 298 Shares of First Solar, Inc. $FSLR

Quadrant Private Wealth Management LLC reduced its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 16,918 shares of the solar cell manufacturer’s stock after selling 298 shares during the period. Quadrant Private Wealth Management LLC’s holdings in First Solar were worth $2,801,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Cetera Investment Advisers lifted its holdings in First Solar by 10.9% during the 1st quarter. Cetera Investment Advisers now owns 25,437 shares of the solar cell manufacturer’s stock valued at $3,216,000 after buying an additional 2,510 shares in the last quarter. Hunter Associates Investment Management LLC bought a new position in First Solar in the 1st quarter worth about $272,000. Raymond James Financial Inc. increased its position in shares of First Solar by 57.2% during the first quarter. Raymond James Financial Inc. now owns 43,991 shares of the solar cell manufacturer’s stock worth $5,562,000 after acquiring an additional 16,003 shares during the period. Sumitomo Mitsui Financial Group Inc. increased its position in shares of First Solar by 18.2% during the first quarter. Sumitomo Mitsui Financial Group Inc. now owns 101,659 shares of the solar cell manufacturer’s stock worth $12,853,000 after acquiring an additional 15,656 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake 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 acquiring an additional 20,884 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insider Buying and Selling

In related news, CEO Mark R. Widmar sold 23,912 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the completion of the sale, the chief executive officer owned 87,978 shares of the company’s stock, valued at $16,317,279.66. This represents a 21.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Nathan B. Theurer sold 686 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The SEC filing for this sale provides additional information. Insiders sold a total of 68,127 shares of company stock worth $15,647,859 in the last 90 days. 0.48% of the stock is owned by corporate insiders.

First Solar Trading Down 1.6%

Shares of NASDAQ FSLR opened at $267.64 on Friday. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $281.55. The business has a fifty day moving average price of $226.52 and a 200 day moving average price of $187.95. The stock has a market capitalization of $28.72 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 0.46 and a beta of 1.51. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 EPS for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.56 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The business’s revenue for the quarter was up 79.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.91 earnings per share. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. Equities research analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FSLR shares. Jefferies Financial Group set a $269.00 price objective on First Solar and gave the stock a “buy” rating in a research note on Friday, October 31st. UBS Group upped their target price on First Solar from $275.00 to $330.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley set a $275.00 price target on First Solar in a research report on Friday, October 31st. Robert W. Baird raised their price target on First Solar from $240.00 to $264.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Finally, TD Cowen upped their price objective on shares of First Solar from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $270.17.

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.