First Solar, Inc. $FSLR Stake Cut by Peregrine Capital Management LLC

Peregrine Capital Management LLC cut its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 30.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,739 shares of the solar cell manufacturer’s stock after selling 2,079 shares during the quarter. Peregrine Capital Management LLC’s holdings in First Solar were worth $784,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. lifted its stake in First Solar by 3.9% during the first quarter. Harvest Portfolios Group Inc. now owns 1,658 shares of the solar cell manufacturer’s stock worth $210,000 after purchasing an additional 63 shares during the last quarter. Legend Financial Advisors Inc. lifted its stake in First Solar by 1.4% during the first quarter. Legend Financial Advisors Inc. now owns 4,726 shares of the solar cell manufacturer’s stock worth $598,000 after purchasing an additional 64 shares during the last quarter. Harrington Investments INC lifted its stake in First Solar by 0.5% during the second quarter. Harrington Investments INC now owns 13,278 shares of the solar cell manufacturer’s stock worth $2,198,000 after purchasing an additional 65 shares during the last quarter. Energy Income Partners LLC lifted its stake in First Solar by 0.8% during the first quarter. Energy Income Partners LLC now owns 9,257 shares of the solar cell manufacturer’s stock worth $1,170,000 after purchasing an additional 72 shares during the last quarter. Finally, Horizon Investments LLC lifted its stake in First Solar by 5.1% during the first quarter. Horizon Investments LLC now owns 1,537 shares of the solar cell manufacturer’s stock worth $194,000 after purchasing an additional 74 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FSLR shares. Bank of America increased their target price on First Solar from $209.00 to $254.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Hsbc Global Res raised First Solar to a “strong-buy” rating in a research report on Friday, August 1st. Guggenheim increased their target price on First Solar from $202.00 to $287.00 and gave the stock a “buy” rating in a research report on Friday, August 22nd. Deutsche Bank Aktiengesellschaft increased their target price on First Solar from $225.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Finally, Susquehanna increased their target price on First Solar from $222.00 to $273.00 and gave the stock a “positive” rating in a research report on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.81.

First Solar Price Performance

Shares of FSLR opened at $239.60 on Wednesday. The firm has a market capitalization of $25.70 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 0.47 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, Inc. has a one year low of $116.56 and a one year high of $249.56. The stock’s fifty day moving average is $216.38 and its 200-day moving average is $180.86.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results 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. 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 company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Equities analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Mark R. Widmar sold 23,912 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer directly owned 87,978 shares of the company’s stock, valued at approximately $16,317,279.66. This trade represents a 21.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Nathan B. Theurer sold 686 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total value of $124,872.58. The SEC filing for this sale provides additional information. Insiders have sold 30,715 shares of company stock worth $5,733,305 over the last three months. Corporate insiders own 0.48% of the company’s stock.

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.