Aberdeen Group plc Purchases 15,544 Shares of First Solar, Inc. $FSLR

Aberdeen Group plc increased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 12.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 142,203 shares of the solar cell manufacturer’s stock after purchasing an additional 15,544 shares during the period. Aberdeen Group plc owned about 0.13% of First Solar worth $23,540,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Grace & White Inc. NY increased its position in shares of First Solar by 3.3% during the second quarter. Grace & White Inc. NY now owns 81,875 shares of the solar cell manufacturer’s stock valued at $13,554,000 after purchasing an additional 2,600 shares during the period. L. Roy Papp & Associates LLP increased its position in shares of First Solar by 18.6% during the second quarter. L. Roy Papp & Associates LLP now owns 2,265 shares of the solar cell manufacturer’s stock valued at $375,000 after purchasing an additional 356 shares during the period. Mengis Capital Management Inc. increased its position in shares of First Solar by 44.0% during the second quarter. Mengis Capital Management Inc. now owns 5,743 shares of the solar cell manufacturer’s stock valued at $951,000 after purchasing an additional 1,756 shares during the period. Triodos Investment Management BV increased its position in shares of First Solar by 10.3% during the second quarter. Triodos Investment Management BV now owns 274,100 shares of the solar cell manufacturer’s stock valued at $45,342,000 after purchasing an additional 25,600 shares during the period. Finally, Callan Family Office LLC bought a new stake in shares of First Solar during the second quarter valued at approximately $244,000. 92.08% of the stock is currently owned by institutional investors.

First Solar Price Performance

Shares of FSLR stock opened at $226.15 on Tuesday. The stock’s fifty day moving average is $206.95 and its 200-day moving average is $172.65. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The stock has a market capitalization of $24.25 billion, a PE ratio of 19.35, a PEG ratio of 0.45 and a beta of 1.38. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $237.20.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping the consensus estimate of $2.68 by $0.50. The company had revenue of $1.10 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.25 earnings per share. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Equities research analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, CEO Mark R. Widmar sold 23,912 shares of the company’s stock in a transaction 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 owned 87,978 shares of the company’s stock, valued at $16,317,279.66. This represents a 21.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Nathan B. Theurer sold 686 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were 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 30,715 shares of company stock worth $5,733,305 in the last ninety days. 0.48% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FSLR. BMO Capital Markets upped their price target on First Solar from $194.00 to $203.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Royal Bank Of Canada upped their price target on First Solar from $188.00 to $200.00 and gave the company an “outperform” rating in a research report on Tuesday, July 1st. Wall Street Zen upgraded First Solar from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of First Solar in a research report on Wednesday, October 8th. Finally, Bank of America upped their price target on First Solar from $185.00 to $201.00 and gave the company a “buy” rating in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $234.04.

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.