First Solar, Inc. $FSLR Stock Holdings Boosted by Wealthfront Advisers LLC

Wealthfront Advisers LLC lifted its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 115.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 8,587 shares of the solar cell manufacturer’s stock after acquiring an additional 4,605 shares during the period. Wealthfront Advisers LLC’s holdings in First Solar were worth $1,421,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of First Solar by 3.0% during the first quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer’s stock worth $1,668,919,000 after acquiring an additional 378,641 shares during the last quarter. Wellington Management Group LLP grew its position in shares of First Solar by 17.2% during the first quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer’s stock worth $349,617,000 after acquiring an additional 405,457 shares during the last quarter. Invesco Ltd. grew its position in shares of First Solar by 32.3% during the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer’s stock worth $306,909,000 after acquiring an additional 592,444 shares during the last quarter. Samlyn Capital LLC grew its position in shares of First Solar by 6.3% during the first quarter. Samlyn Capital LLC now owns 1,741,794 shares of the solar cell manufacturer’s stock worth $220,215,000 after acquiring an additional 103,403 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of 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 acquiring an additional 290,112 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

FSLR has been the subject of a number of analyst reports. Wolfe Research boosted their price target on First Solar from $209.00 to $232.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Needham & Company LLC began coverage on First Solar in a research report on Wednesday, October 22nd. They set a “buy” rating and a $286.00 price target for the company. Jefferies Financial Group increased their target price on shares of First Solar from $212.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. UBS Group reiterated a “buy” rating and issued a $275.00 target price (up previously from $255.00) on shares of First Solar in a research report on Tuesday, August 5th. Finally, The Goldman Sachs Group increased their target price on shares of First Solar from $283.00 to $293.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $244.81.

First Solar Stock Performance

Shares of FSLR opened at $233.58 on Friday. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $249.56. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $25.05 billion, a PE ratio of 19.98, a P/E/G ratio of 0.46 and a beta of 1.38. The firm has a 50-day moving average price of $217.91 and a 200 day moving average price of $182.03.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share 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 during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the company posted $2.91 earnings per share. First Solar’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 fiscal year.

Insider Transactions at First Solar

In other First Solar news, CAO Nathan B. Theurer sold 686 shares of the company’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 2,321 shares of the business’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $199.44, for a total value of $462,900.24. Following the sale, the chief executive officer directly owned 81,861 shares in the company, valued at $16,326,357.84. This trade represents a 2.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,715 shares of company stock valued at $5,733,305 over the last three months. 0.48% of the stock is owned by corporate insiders.

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.