Everett Harris & Co. CA Takes Position in First Solar, Inc. $FSLR

Everett Harris & Co. CA acquired a new stake in First Solar, Inc. (NASDAQ:FSLR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,700 shares of the solar cell manufacturer’s stock, valued at approximately $281,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC raised its holdings in shares of First Solar by 126.9% in the 2nd 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 in the last quarter. Harbor Investment Advisory LLC increased its holdings in First Solar by 138.9% during the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock valued at $28,000 after buying an additional 100 shares during the period. Hantz Financial Services Inc. raised its stake in First Solar by 69.4% in the second quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock worth $30,000 after buying an additional 75 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new stake in First Solar during the first quarter worth $25,000. Finally, First Pacific Financial bought a new stake in First Solar during the 2nd quarter valued at $41,000. 92.08% of the stock is currently owned by institutional investors.

Insider Transactions at First Solar

In related news, insider Georges Antoun sold 37,412 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $265.01, for a total value of $9,914,554.12. Following the transaction, the insider owned 15,424 shares in the company, valued at approximately $4,087,514.24. This represents a 70.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark R. Widmar sold 2,321 shares of the firm’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 transaction of $462,900.24. Following the transaction, the chief executive officer directly owned 81,861 shares of the company’s stock, valued at $16,326,357.84. This represents a 2.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 51,233 shares of company stock worth $13,434,249 in the last ninety days. Corporate insiders own 0.48% of the company’s stock.

First Solar Price Performance

NASDAQ FSLR opened at $267.52 on Thursday. The company has a market cap of $28.71 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 0.46 and a beta of 1.51. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41. The stock’s fifty day moving average price is $230.76 and its 200 day moving average price is $191.07. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $281.55.

First Solar (NASDAQ:FSLR) last posted 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). The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.56 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The firm’s revenue for the quarter was up 79.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.91 EPS. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. As a group, equities research analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on FSLR. Guggenheim boosted their price target on First Solar from $287.00 to $289.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Wells Fargo & Company lifted their target price on First Solar from $213.00 to $270.00 in a research note on Friday, October 31st. Evercore ISI increased their price target on shares of First Solar from $240.90 to $241.00 in a research report on Friday, October 31st. Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a report on Friday, August 1st. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $273.00 price objective on shares of First Solar in a research note on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $270.17.

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.