Geode Capital Management LLC Acquires 26,476 Shares of First Solar, Inc. $FSLR

Geode Capital Management LLC raised its holdings in First Solar, Inc. (NASDAQ:FSLR) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,857,848 shares of the solar cell manufacturer’s stock after buying an additional 26,476 shares during the period. Geode Capital Management LLC owned about 2.66% of First Solar worth $471,927,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Wealth Preservation Advisors LLC acquired a new stake in shares of First Solar in the 1st quarter worth about $25,000. TD Private Client Wealth LLC increased its holdings in First Solar by 126.9% during the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock worth $25,000 after purchasing an additional 85 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in shares of First Solar by 138.9% in the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of First Solar by 69.4% in the second quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock worth $30,000 after purchasing an additional 75 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of First Solar by 591.9% in the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer’s stock valued at $32,000 after purchasing an additional 219 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

Insider Activity at First Solar

In related news, Director Michael T. Sweeney sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $271.11, for a total transaction of $1,219,995.00. Following the sale, the director owned 13,662 shares of the company’s stock, valued at approximately $3,703,904.82. This represents a 24.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Georges Antoun sold 37,412 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were 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 of the company’s stock, valued at approximately $4,087,514.24. The trade was a 70.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 48,912 shares of company stock valued at $12,971,349. Corporate insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

FSLR has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on First Solar from $225.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Robert W. Baird upped their target price on shares of First Solar from $240.00 to $264.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Cowen reiterated a “buy” rating on shares of First Solar in a report on Friday, October 31st. Roth Capital set a $300.00 price target on First Solar in a research report on Friday, October 31st. Finally, TD Cowen boosted their price objective on First Solar from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $269.79.

First Solar Stock Performance

Shares of FSLR stock opened at $253.08 on Friday. The firm’s 50 day moving average is $232.81 and its 200 day moving average is $192.69. The stock has a market capitalization of $27.16 billion, a P/E ratio of 21.65, a PEG ratio of 0.46 and a beta of 1.51. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $281.55. 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, October 30th. The solar cell manufacturer reported $4.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). First Solar had a net margin of 28.95% and a return on equity of 15.57%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the firm earned $2.91 EPS. The company’s revenue was up 79.7% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

About First Solar

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.