Argonautica Private Wealth Management Inc. Purchases 317 Shares of First Solar, Inc. $FSLR

Argonautica Private Wealth Management Inc. grew its position in First Solar, Inc. (NASDAQ:FSLR) by 9.6% during the second quarter, HoldingsChannel.com reports. The fund owned 3,619 shares of the solar cell manufacturer’s stock after acquiring an additional 317 shares during the quarter. Argonautica Private Wealth Management Inc.’s holdings in First Solar were worth $599,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cetera Investment Advisers increased its stake in First Solar by 10.9% in the 1st quarter. Cetera Investment Advisers now owns 25,437 shares of the solar cell manufacturer’s stock worth $3,216,000 after acquiring an additional 2,510 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in First Solar by 396.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 11,777 shares of the solar cell manufacturer’s stock worth $1,489,000 after acquiring an additional 9,405 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in First Solar by 7.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 48,722 shares of the solar cell manufacturer’s stock worth $6,160,000 after acquiring an additional 3,226 shares during the last quarter. Vontobel Holding Ltd. increased its stake in First Solar by 14.2% in the 1st quarter. Vontobel Holding Ltd. now owns 189,320 shares of the solar cell manufacturer’s stock worth $23,936,000 after acquiring an additional 23,528 shares during the last quarter. Finally, Oakworth Capital Inc. increased its stake in First Solar by 24.7% in the 1st quarter. Oakworth Capital Inc. now owns 9,682 shares of the solar cell manufacturer’s stock worth $1,224,000 after acquiring an additional 1,916 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Mark R. Widmar sold 2,321 shares of the business’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $199.44, for a total transaction of $462,900.24. Following the sale, the chief executive officer owned 81,861 shares in the company, valued at approximately $16,326,357.84. The trade was a 2.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Nathan B. Theurer sold 686 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $182.03, for a total value of $124,872.58. The disclosure for this sale can be found here. Insiders have sold a total of 30,715 shares of company stock valued at $5,733,305 over the last 90 days. 0.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FSLR has been the topic of several analyst reports. UBS Group reissued a “buy” rating and set a $275.00 target price (up previously from $255.00) on shares of First Solar in a research report on Tuesday, August 5th. The Goldman Sachs Group boosted their target price on First Solar from $283.00 to $293.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Citigroup boosted their target price on First Solar from $198.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. JPMorgan Chase & Co. boosted their target price on First Solar from $262.00 to $278.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Finally, Hsbc Global Res raised First Solar to a “strong-buy” rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $242.32.

First Solar Price Performance

Shares of FSLR stock opened at $226.85 on Wednesday. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $248.04. The stock has a market capitalization of $24.33 billion, a price-to-earnings ratio of 19.41, a P/E/G ratio of 0.44 and a beta of 1.38. The stock has a fifty day simple moving average of $212.66 and a two-hundred day simple moving average of $176.63. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.50. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal 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.