First Solar, Inc. $FSLR Shares Purchased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,179 shares of the solar cell manufacturer’s stock after acquiring an additional 510 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in First Solar were worth $3,340,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Riverwater Partners LLC acquired a new position in First Solar during the second quarter worth about $261,000. Envestnet Asset Management Inc. boosted its position in shares of First Solar by 10.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 34,473 shares of the solar cell manufacturer’s stock valued at $5,707,000 after purchasing an additional 3,238 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of First Solar by 207.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 13,576 shares of the solar cell manufacturer’s stock valued at $2,247,000 after purchasing an additional 9,154 shares during the period. Wealthfront Advisers LLC boosted its position in shares of First Solar by 115.6% in the 2nd quarter. Wealthfront Advisers LLC now owns 8,587 shares of the solar cell manufacturer’s stock valued at $1,421,000 after purchasing an additional 4,605 shares during the period. Finally, AlphaQuest LLC boosted its position in shares of First Solar by 10.3% in the 2nd quarter. AlphaQuest LLC now owns 1,706 shares of the solar cell manufacturer’s stock valued at $282,000 after purchasing an additional 160 shares during the period. 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 business’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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark R. Widmar sold 2,321 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $199.44, for a total value of $462,900.24. Following the completion of the sale, the chief executive officer owned 81,861 shares of the company’s stock, valued at approximately $16,326,357.84. This trade represents a 2.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,715 shares of company stock valued at $5,733,305. Corporate insiders own 0.48% of the company’s stock.

First Solar Stock Up 2.6%

Shares of First Solar stock opened at $247.69 on Tuesday. The firm has a market cap of $26.56 billion, a price-to-earnings ratio of 21.19, a P/E/G ratio of 0.46 and a beta of 1.38. 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, Inc. has a 52-week low of $116.56 and a 52-week high of $249.56. The stock has a 50-day simple moving average of $215.80 and a 200-day simple moving average of $180.04.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.50. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company earned $3.25 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, equities research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on FSLR shares. Roth Capital increased their price target on First Solar from $225.00 to $270.00 and gave the company a “buy” rating in a research report on Monday. Glj Research reiterated a “buy” rating and issued a $214.06 price target (up previously from $172.53) on shares of First Solar in a research report on Tuesday, August 12th. Deutsche Bank Aktiengesellschaft increased their price target on First Solar from $225.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Jefferies Financial Group raised their price objective on First Solar from $212.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Finally, Evercore ISI assumed coverage on First Solar in a research report on Monday, October 6th. They set an “in-line” rating and a $240.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $245.37.

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.