5,273 Shares in First Solar, Inc. $FSLR Bought by Fullerton Fund Management Co Ltd.

Fullerton Fund Management Co Ltd. purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,273 shares of the solar cell manufacturer’s stock, valued at approximately $873,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of First Solar by 0.4% in the second quarter. Vanguard Group Inc. now owns 13,257,849 shares of the solar cell manufacturer’s stock worth $2,194,704,000 after buying an additional 57,507 shares during the last quarter. State Street Corp lifted its holdings in First Solar by 2.1% in the second quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock valued at $881,680,000 after acquiring an additional 111,927 shares during the period. Geode Capital Management LLC boosted its position in First Solar by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,857,848 shares of the solar cell manufacturer’s stock worth $471,927,000 after purchasing an additional 26,476 shares in the last quarter. Wellington Management Group LLP boosted its position in First Solar by 17.2% in the 1st quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer’s stock worth $349,617,000 after purchasing an additional 405,457 shares in the last quarter. Finally, Viking Global Investors LP grew its stake in shares of First Solar by 60.6% during the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after purchasing an additional 854,919 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at First Solar

In other news, Director Paul H. Stebbins sold 7,000 shares of the stock in a transaction dated Friday, November 7th. The shares were 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 in the company, valued at $4,011,308.80. This represents a 31.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Georges Antoun sold 37,412 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $265.01, for a total transaction of $9,914,554.12. Following the completion of the transaction, the insider directly owned 15,424 shares in the company, valued at approximately $4,087,514.24. This represents a 70.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 48,912 shares of company stock valued at $12,971,349 over the last 90 days. 0.48% of the stock is currently owned by corporate insiders.

First Solar Stock Down 6.6%

FSLR opened at $254.80 on Friday. The company has a market cap of $27.34 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 0.53 and a beta of 1.59. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $281.55. The company has a 50-day moving average price of $250.79 and a 200 day moving average price of $207.13. The company has a quick ratio of 1.55, a current ratio of 1.91 and a debt-to-equity ratio of 0.03.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.32 by ($0.08). First Solar had a return on equity of 16.61% and a net margin of 27.73%.The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the firm posted $2.91 earnings per share. The company’s quarterly revenue was up 79.7% on a year-over-year basis. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. Sell-side analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of First Solar from $273.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday. Daiwa Capital Markets lifted their price objective on shares of First Solar from $215.00 to $284.00 and gave the company an “outperform” rating in a report on Tuesday. Bank of America upped their price objective on shares of First Solar from $209.00 to $254.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. TD Cowen raised their target price on First Solar from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Rothschild & Co Redburn lifted their price target on First Solar from $150.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $270.73.

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.