Penobscot Wealth Management Invests $217,000 in First Solar, Inc. $FSLR

Penobscot Wealth Management acquired a new position in First Solar, Inc. (NASDAQ:FSLR) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,310 shares of the solar cell manufacturer’s stock, valued at approximately $217,000.

Several other hedge funds also recently made changes to their positions in FSLR. Nuveen LLC acquired a new position in shares of First Solar in the 1st quarter worth approximately $114,730,000. Canada Pension Plan Investment Board grew its stake in shares of First Solar by 16,857.8% in 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 during the last quarter. Invesco Ltd. increased its position in shares of First Solar by 32.3% in the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer’s stock worth $306,909,000 after acquiring an additional 592,444 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of First Solar by 22,107.8% in the first quarter. Jones Financial Companies Lllp now owns 512,556 shares of the solar cell manufacturer’s stock worth $64,802,000 after acquiring an additional 510,248 shares in the last quarter. Finally, Hill City Capital LP increased its position in shares of First Solar by 59.4% in the first quarter. Hill City Capital LP now owns 1,355,000 shares of the solar cell manufacturer’s stock worth $171,313,000 after acquiring an additional 505,000 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of FSLR opened at $241.41 on Monday. The company’s 50 day moving average price is $215.24 and its 200 day moving average price is $179.22. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $248.04. The company has a market capitalization of $25.89 billion, a PE ratio of 20.65, a PEG ratio of 0.46 and a beta of 1.38. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90.

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 analysts’ consensus estimates of $2.68 by $0.50. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm posted $3.25 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Research analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FSLR. Wolfe Research lifted their target price on shares of First Solar from $209.00 to $232.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Bank of America lifted their target price on shares of First Solar from $209.00 to $254.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Weiss Ratings reissued a “hold (c)” rating on shares of First Solar in a research report on Saturday. BMO Capital Markets lifted their target price on shares of First Solar from $194.00 to $203.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada lifted their target price on shares of First Solar from $201.00 to $244.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $244.43.

Insider Buying and Selling

In related news, CEO Mark R. Widmar sold 23,912 shares of the business’s 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 transaction, the chief executive officer directly owned 87,978 shares of the company’s stock, valued at approximately $16,317,279.66. The trade was a 21.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Nathan B. Theurer sold 686 shares of First Solar 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 disclosure for this sale can be found here. Insiders have sold 30,715 shares of company stock worth $5,733,305 over the last ninety days. 0.48% of the stock is currently owned by insiders.

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.