MassMutual Private Wealth & Trust FSB raised its position in First Solar, Inc. (NASDAQ:FSLR – Free Report) by 51.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 529 shares of the solar cell manufacturer’s stock after buying an additional 179 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in First Solar were worth $88,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FSLR. Garde Capital Inc. purchased a new position in First Solar in the 1st quarter valued at about $25,000. Wealth Preservation Advisors LLC bought a new position in shares of First Solar during the first quarter worth about $25,000. Harbor Investment Advisory LLC lifted its position in shares of First Solar by 138.9% during the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of First Solar by 591.9% during the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer’s stock worth $32,000 after purchasing an additional 219 shares during the last quarter. Finally, Colonial Trust Advisors bought a new position in shares of First Solar during the first quarter worth about $32,000. 92.08% of the stock is owned by hedge funds and other institutional investors.
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Insider Buying and Selling
In related news, 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 value of $124,872.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark R. Widmar sold 23,912 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the completion of the transaction, the chief executive officer directly owned 87,978 shares of the company’s stock, valued at $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 90 days, insiders sold 32,315 shares of company stock valued at $6,021,305. Company insiders own 0.48% of the company’s stock.
First Solar Trading Up 1.4%
Shares of NASDAQ:FSLR opened at $212.49 on Friday. The stock has a market capitalization of $22.79 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 0.41 and a beta of 1.41. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $262.72. 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 company has a 50 day moving average price of $191.68 and a 200 day moving average price of $161.73.
First Solar (NASDAQ:FSLR – Get Free Report) last issued its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, research analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
FSLR has been the topic of several research analyst reports. Guggenheim increased their price target 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. Jefferies Financial Group set a $194.00 target price on shares of First Solar and gave the stock a “buy” rating in a report on Tuesday, July 15th. Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a report on Friday, August 1st. Susquehanna raised their target price on shares of First Solar from $203.00 to $222.00 and gave the stock a “positive” rating in a report on Friday, August 1st. Finally, Mizuho raised their target price on shares of First Solar from $275.00 to $278.00 and gave the stock an “outperform” rating in a report on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $228.80.
Read Our Latest Analysis on First Solar
First Solar Company Profile
(Free Report)
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.
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