South Dakota Investment Council Raises Stock Holdings in First Solar, Inc. $FSLR

South Dakota Investment Council raised its stake in First Solar, Inc. (NASDAQ:FSLR) by 17.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 109,273 shares of the solar cell manufacturer’s stock after purchasing an additional 15,866 shares during the period. South Dakota Investment Council owned 0.10% of First Solar worth $18,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in FSLR. Wealth Preservation Advisors LLC purchased a new stake in First Solar during the first quarter valued at approximately $25,000. TD Private Client Wealth LLC grew its holdings in 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 worth $25,000 after purchasing an additional 85 shares during the last quarter. Harbor Investment Advisory LLC increased its position in shares of First Solar by 138.9% during the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock worth $28,000 after purchasing an additional 100 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of First Solar by 69.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock valued at $30,000 after purchasing an additional 75 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of First Solar by 591.9% in the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer’s stock worth $32,000 after purchasing an additional 219 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

First Solar Trading Up 14.3%

First Solar stock opened at $266.94 on Monday. The stock has a 50-day moving average price of $219.21 and a 200 day moving average price of $183.78. The company has a market capitalization 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, 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.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing the consensus estimate of $4.32 by ($0.08). First Solar had a return on equity of 15.57% and a net margin of 28.95%.The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the company posted $2.91 EPS. First Solar’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. Sell-side analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on FSLR shares. BMO Capital Markets restated an “outperform” rating and set a $273.00 target price on shares of First Solar in a research note on Friday. KeyCorp reissued an “overweight” rating on shares of First Solar in a report on Friday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of First Solar from $225.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $316.00 price objective on shares of First Solar in a research report on Friday. Finally, Citigroup boosted their target price on shares of First Solar from $198.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $261.23.

Insider Buying and Selling at First Solar

In related news, CAO Nathan B. Theurer sold 686 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total transaction of $124,872.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark R. Widmar sold 23,912 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total value of $4,434,958.64. Following the sale, the chief executive officer directly owned 87,978 shares in the company, valued at $16,317,279.66. This represents a 21.37% decrease in their ownership of the stock. 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. 0.48% of the stock is currently owned by corporate insiders.

About First Solar

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.