Rockefeller Capital Management L.P. Boosts Holdings in First Solar, Inc. $FSLR

Rockefeller Capital Management L.P. increased its holdings in First Solar, Inc. (NASDAQ:FSLR) by 26.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,400 shares of the solar cell manufacturer’s stock after buying an additional 5,441 shares during the period. Rockefeller Capital Management L.P.’s holdings in First Solar were worth $4,370,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SFE Investment Counsel lifted its holdings in shares of First Solar by 9.1% in the 2nd quarter. SFE Investment Counsel now owns 69,810 shares of the solar cell manufacturer’s stock worth $11,556,000 after acquiring an additional 5,852 shares during the last quarter. Cetera Investment Advisers raised its position in First Solar by 10.9% in the first quarter. Cetera Investment Advisers now owns 25,437 shares of the solar cell manufacturer’s stock valued at $3,216,000 after purchasing an additional 2,510 shares during the period. Raymond James Financial Inc. lifted its stake in First Solar by 57.2% during the first quarter. Raymond James Financial Inc. now owns 43,991 shares of the solar cell manufacturer’s stock worth $5,562,000 after purchasing an additional 16,003 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. boosted its position in shares of First Solar by 18.2% during the first quarter. Sumitomo Mitsui Financial Group Inc. now owns 101,659 shares of the solar cell manufacturer’s stock worth $12,853,000 after buying an additional 15,656 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of First Solar during the second quarter worth $1,323,000. 92.08% of the stock is currently owned by institutional investors.

First Solar Price Performance

FSLR stock opened at $249.91 on Friday. The business has a 50 day moving average price of $237.58 and a 200 day moving average price of $196.52. 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 stock has a market cap of $26.82 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 0.46 and a beta of 1.51. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $281.55.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 EPS for the quarter, missing the consensus estimate of $4.32 by ($0.08). The company had revenue of $1.59 billion during 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 business’s revenue for the quarter was up 79.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.91 earnings per share. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. Equities research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Mizuho increased their target price on First Solar from $278.00 to $335.00 in a research note on Friday, October 31st. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Solar in a research note on Wednesday. Seaport Global Securities increased their price target on shares of First Solar from $217.00 to $305.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Glj Research lifted their price objective on shares of First Solar from $214.06 to $314.43 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, Wells Fargo & Company upped their target price on shares of First Solar from $213.00 to $270.00 in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $269.79.

Insider Buying and Selling

In other news, Director Paul H. Stebbins sold 7,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $262.40, for a total value of $1,836,800.00. Following the completion of the sale, the director directly owned 15,287 shares of the company’s stock, valued at approximately $4,011,308.80. The trade was a 31.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Georges Antoun sold 37,412 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was 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 $4,087,514.24. This represents a 70.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,912 shares of company stock worth $12,971,349 in the last ninety days. 0.48% of the stock is owned by corporate insiders.

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.