Secure Asset Management LLC Sells 86 Shares of First Solar, Inc. $FSLR

Secure Asset Management LLC decreased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,316 shares of the solar cell manufacturer’s stock after selling 86 shares during the period. Secure Asset Management LLC’s holdings in First Solar were worth $2,701,000 as of its most recent filing with the Securities & Exchange Commission.

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

First Solar Price Performance

Shares of NASDAQ FSLR opened at $210.71 on Thursday. The business’s 50 day moving average price is $189.78 and its 200 day moving average price is $160.60. The firm has a market cap of $22.60 billion, a P/E ratio of 18.02, a P/E/G ratio of 0.41 and a beta of 1.41. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $262.72. The company has a quick ratio of 1.41, a current ratio of 1.90 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 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.50. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.First Solar’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, sell-side analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insiders Place Their Bets

In other First Solar news, CEO Mark R. Widmar sold 2,321 shares of the company’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 value 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. This represents a 2.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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. In the last 90 days, insiders have sold 32,315 shares of company stock worth $6,021,305. Corporate insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FSLR. Royal Bank Of Canada boosted their target price on shares of First Solar from $188.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, July 1st. UBS Group restated a “buy” rating and issued a $275.00 price objective (up from $255.00) on shares of First Solar in a report on Tuesday, August 5th. Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a report on Friday, August 1st. Glj Research restated a “buy” rating and issued a $214.06 price objective (up from $172.53) on shares of First Solar in a report on Tuesday, August 12th. Finally, Susquehanna lifted their price objective on First Solar from $203.00 to $222.00 and gave the company a “positive” rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $226.64.

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.