Securian Asset Management Inc. Sells 100 Shares of First Solar, Inc. $FSLR

Securian Asset Management Inc. lowered its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.8% during the second quarter, HoldingsChannel reports. The fund owned 5,489 shares of the solar cell manufacturer’s stock after selling 100 shares during the quarter. Securian Asset Management Inc.’s holdings in First Solar were worth $909,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FSLR. Nuveen LLC bought a new stake in First Solar during the 1st quarter worth $114,730,000. Canada Pension Plan Investment Board grew its position in First Solar by 16,857.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 759,033 shares of the solar cell manufacturer’s stock worth $95,965,000 after acquiring an additional 754,557 shares during the last quarter. Invesco Ltd. lifted its holdings in First Solar by 32.3% during the 1st quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer’s stock worth $306,909,000 after buying an additional 592,444 shares during the period. Jones Financial Companies Lllp lifted its holdings in First Solar by 22,107.8% during the 1st quarter. Jones Financial Companies Lllp now owns 512,556 shares of the solar cell manufacturer’s stock worth $64,802,000 after buying an additional 510,248 shares during the period. Finally, Hill City Capital LP lifted its holdings in First Solar by 59.4% during the 1st quarter. Hill City Capital LP now owns 1,355,000 shares of the solar cell manufacturer’s stock worth $171,313,000 after buying an additional 505,000 shares during the period. Institutional investors own 92.08% of the company’s stock.

Insider Buying and Selling

In related news, CEO Mark R. Widmar sold 23,912 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the transaction, the chief executive officer directly owned 87,978 shares of the company’s stock, valued at approximately $16,317,279.66. This represents a 21.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Nathan B. Theurer sold 686 shares of the company’s stock in a transaction that occurred on 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. Over the last ninety days, insiders have sold 30,715 shares of company stock worth $5,733,305. 0.48% of the stock is owned by company insiders.

First Solar Stock Up 2.5%

Shares of NASDAQ:FSLR opened at $229.00 on Friday. The company has a market capitalization of $24.56 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 0.42 and a beta of 1.38. 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 business’s 50-day moving average is $214.41 and its 200-day moving average is $177.63. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $248.04.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on FSLR. UBS Group reaffirmed a “buy” rating and set a $275.00 target price (up from $255.00) on shares of First Solar in a report on Tuesday, August 5th. Royal Bank Of Canada lifted their target price on First Solar from $201.00 to $244.00 and gave the stock an “outperform” rating in a report on Monday. Mizuho lifted their target price on First Solar from $275.00 to $278.00 and gave the stock an “outperform” rating in a report on Monday, July 14th. BMO Capital Markets lifted their target price on First Solar from $194.00 to $203.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on First Solar from $225.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $244.43.

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.