Blume Capital Management Inc. Buys Shares of 5,863 First Solar, Inc. $FSLR

Blume Capital Management Inc. purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,863 shares of the solar cell manufacturer’s stock, valued at approximately $971,000.

Several other institutional investors and hedge funds have also made changes to their positions in FSLR. Wealth Preservation Advisors LLC purchased a new stake in First Solar during the 1st quarter worth about $25,000. TD Private Client Wealth LLC boosted its stake in shares of 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 during the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of First Solar by 138.9% during the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Larson Financial Group LLC raised its position 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 buying an additional 219 shares during the last quarter. Finally, Colonial Trust Advisors purchased a new position in shares of First Solar during the first quarter valued at approximately $32,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Price Performance

Shares of First Solar stock opened at $226.85 on Wednesday. The business’s fifty day moving average price is $212.66 and its 200 day moving average price is $176.63. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $248.04. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $24.33 billion, a P/E ratio of 19.41, a PEG ratio of 0.44 and a beta of 1.38.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.50. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Activity at First Solar

In other First Solar news, CEO Mark R. Widmar sold 23,912 shares of First Solar stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the transaction, the chief executive officer directly owned 87,978 shares of the company’s stock, valued at $16,317,279.66. The trade was a 21.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Nathan B. Theurer sold 686 shares of the business’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 transaction of $124,872.58. The disclosure for this sale can be found here. Insiders sold 30,715 shares of company stock worth $5,733,305 in the last 90 days. 0.48% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. UBS Group reaffirmed a “buy” rating and issued a $275.00 target price (up from $255.00) on shares of First Solar in a research note on Tuesday, August 5th. TD Cowen lifted their price objective on First Solar from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Citigroup upped their target price on First Solar from $198.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. JPMorgan Chase & Co. raised their price target on First Solar from $262.00 to $278.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Finally, Morgan Stanley lifted their price target on First Solar from $215.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, First Solar presently has an average rating of “Moderate Buy” and an average target price of $242.32.

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.