Optimum Investment Advisors Sells 500 Shares of First Solar, Inc. $FSLR

Optimum Investment Advisors reduced its position in First Solar, Inc. (NASDAQ:FSLR) by 57.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 375 shares of the solar cell manufacturer’s stock after selling 500 shares during the period. Optimum Investment Advisors’ holdings in First Solar were worth $62,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in First Solar by 3.0% in the first quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer’s stock valued at $1,668,919,000 after buying an additional 378,641 shares during the period. Wellington Management Group LLP raised its stake in First Solar by 17.2% in the 1st quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer’s stock valued at $349,617,000 after acquiring an additional 405,457 shares during the period. Invesco Ltd. raised its stake in First Solar by 32.3% in the 1st quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer’s stock valued at $306,909,000 after acquiring an additional 592,444 shares during the period. Samlyn Capital LLC lifted its holdings in First Solar by 6.3% during the 1st quarter. Samlyn Capital LLC now owns 1,741,794 shares of the solar cell manufacturer’s stock valued at $220,215,000 after purchasing an additional 103,403 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in First Solar by 20.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,741,026 shares of the solar cell manufacturer’s stock worth $220,118,000 after purchasing an additional 290,112 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $241.41 on Friday. The business has a fifty day moving average price of $215.24 and a two-hundred day moving average price of $178.87. The stock has a market capitalization of $25.89 billion, a PE ratio of 20.65, a P/E/G ratio of 0.46 and a beta of 1.38. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $248.04.

First Solar (NASDAQ:FSLR) last released its earnings results 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. The company 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 quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, equities analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity at First Solar

In other news, CAO Nathan B. Theurer sold 686 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total value of $124,872.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark R. Widmar sold 23,912 shares of the stock in a transaction that occurred 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 sale, the chief executive officer owned 87,978 shares in the company, valued at $16,317,279.66. This represents a 21.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,715 shares of company stock valued at $5,733,305 over the last 90 days. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FSLR shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of First Solar from $225.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Citigroup raised their price objective on shares of First Solar from $198.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Guggenheim boosted 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. Susquehanna increased their target price on First Solar from $222.00 to $273.00 and gave the stock a “positive” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of First Solar in a report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $244.43.

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.