Flagship Harbor Advisors LLC Decreases Stock Position in First Solar, Inc. $FSLR

Flagship Harbor Advisors LLC lessened its stake in First Solar, Inc. (NASDAQ:FSLR) by 14.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,454 shares of the solar cell manufacturer’s stock after selling 403 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in First Solar were worth $406,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FSLR. Wealth Preservation Advisors LLC acquired a new stake in shares of First Solar in the first quarter valued at approximately $25,000. TD Private Client Wealth LLC increased its holdings in shares of First Solar by 126.9% in the second quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock valued at $25,000 after purchasing an additional 85 shares during the last quarter. Harbor Investment Advisory LLC increased its holdings in shares of First Solar by 138.9% in the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of First Solar by 591.9% in the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer’s stock valued at $32,000 after purchasing an additional 219 shares during the last quarter. Finally, Colonial Trust Advisors acquired a new stake in shares of First Solar in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

FSLR has been the subject of several recent research reports. Hsbc Global Res raised First Solar to a “strong-buy” rating in a report on Friday, August 1st. Wall Street Zen raised First Solar from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Deutsche Bank Aktiengesellschaft raised their target price on First Solar from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Guggenheim raised their target price on First Solar from $202.00 to $287.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. Finally, Cowen reissued a “buy” rating on shares of First Solar in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $260.77.

Insiders Place Their Bets

In other news, CAO Nathan B. Theurer sold 686 shares of First Solar stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total value of $124,872.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark R. Widmar sold 2,321 shares of First Solar stock in a transaction on Friday, August 15th. The shares were 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 directly owned 81,861 shares of the company’s stock, valued at $16,326,357.84. The trade was a 2.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 30,715 shares of company stock valued at $5,733,305 over the last ninety days. Insiders own 0.48% of the company’s stock.

First Solar Price Performance

FSLR stock opened at $266.94 on Friday. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $269.67. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $219.21 and a two-hundred day moving average of $182.97. The stock has a market cap of $28.63 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 0.46 and a beta of 1.38.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). First Solar had a net margin of 28.95% and a return on equity of 15.57%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the firm posted $2.91 earnings per share. The company’s quarterly revenue was up 79.7% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. As a group, research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

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.