Motley Fool Asset Management LLC Trims Position in First Solar, Inc. $FSLR

Motley Fool Asset Management LLC lessened its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 3.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,726 shares of the solar cell manufacturer’s stock after selling 54 shares during the quarter. Motley Fool Asset Management LLC’s holdings in First Solar were worth $286,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Harvest Portfolios Group Inc. grew its holdings in shares of 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 in the last quarter. Legend Financial Advisors Inc. grew its holdings in shares of 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 in the last quarter. Harrington Investments INC grew its holdings in shares of 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 in the last quarter. Energy Income Partners LLC grew its holdings in shares of 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 in the last quarter. Finally, Horizon Investments LLC grew its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

NASDAQ:FSLR opened at $239.60 on Wednesday. The firm has a market cap of $25.70 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 0.47 and a beta of 1.38. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $249.56. 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 business has a 50 day moving average price of $216.38 and a 200-day moving average price of $180.86.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.50. The firm had revenue of $1.10 billion during 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 business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Equities research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FSLR shares. UBS Group reissued a “buy” rating and set a $275.00 price objective (up previously from $255.00) on shares of First Solar in a report on Tuesday, August 5th. Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a report on Friday, August 1st. JPMorgan Chase & Co. boosted their price objective on shares of First Solar from $262.00 to $278.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Bank of America boosted their price objective on shares of First Solar from $209.00 to $254.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, TD Cowen boosted their price objective on shares of First Solar from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.81.

Insider Buying and Selling

In other news, CEO Mark R. Widmar sold 2,321 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $199.44, for a total transaction 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 represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Nathan B. Theurer sold 686 shares of the 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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 30,715 shares of company stock valued at $5,733,305. Insiders own 0.48% of the company’s stock.

First Solar Company 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.