First Solar, Inc. $FSLR Stake Lowered by McLean Asset Management Corp

McLean Asset Management Corp cut its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 5.9% in the 2nd quarter, Holdings Channel reports. The firm owned 11,197 shares of the solar cell manufacturer’s stock after selling 699 shares during the quarter. McLean Asset Management Corp’s holdings in First Solar were worth $1,911,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Fiduciary Financial Group LLC grew its holdings in shares of First Solar by 35.3% during the second quarter. Fiduciary Financial Group LLC now owns 2,414 shares of the solar cell manufacturer’s stock valued at $393,000 after purchasing an additional 630 shares during the last quarter. Harbor Investment Advisory LLC grew its position in First Solar by 138.9% in the 2nd 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. AG2R LA Mondiale Gestion D Actifs bought a new position in First Solar in the 1st quarter worth about $1,005,000. Swedbank AB grew its position in First Solar by 9.1% in the 1st quarter. Swedbank AB now owns 154,932 shares of the solar cell manufacturer’s stock worth $19,588,000 after purchasing an additional 12,872 shares during the last quarter. Finally, BROOKFIELD Corp ON grew its position in First Solar by 5.6% in the 1st quarter. BROOKFIELD Corp ON now owns 17,863 shares of the solar cell manufacturer’s stock worth $2,258,000 after purchasing an additional 953 shares during the last quarter. 92.08% of the stock is owned by institutional investors.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $201.70 on Friday. The stock has a fifty day moving average price of $187.50 and a two-hundred day moving average price of $159.30. 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 firm has a market cap of $21.63 billion, a P/E ratio of 17.25, a PEG ratio of 0.40 and a beta of 1.41. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $262.72.

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, topping the consensus estimate of $2.68 by $0.50. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company posted $3.25 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FSLR shares. BMO Capital Markets increased their price objective on First Solar from $194.00 to $203.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. JPMorgan Chase & Co. increased their price objective on First Solar from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Tuesday, July 22nd. Hsbc Global Res raised First Solar to a “strong-buy” rating in a report on Friday, August 1st. Bank of America increased their price objective on First Solar from $185.00 to $201.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. Finally, Guggenheim increased their price objective on First Solar from $202.00 to $287.00 and gave the stock a “buy” rating in a report on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $225.84.

Insider Buying and Selling

In related news, insider Patrick James Buehler sold 1,600 shares of First Solar stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total value of $288,000.00. Following the transaction, the insider directly owned 4,398 shares in the company, valued at $791,640. The trade was a 26.68% decrease in their position. 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 First Solar stock in a transaction 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. Insiders have sold 32,315 shares of company stock worth $6,021,305 in the last ninety days. 0.48% of the stock is currently owned by corporate insiders.

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.