First Solar, Inc. $FSLR Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System decreased its position in First Solar, Inc. (NASDAQ:FSLR) by 0.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,983 shares of the solar cell manufacturer’s stock after selling 215 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.10% of First Solar worth $16,882,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Preservation Advisors LLC purchased a new stake in shares of First Solar in the 1st quarter valued at $25,000. TD Private Client Wealth LLC grew its position in First Solar by 126.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock valued at $25,000 after acquiring an additional 85 shares in 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 valued at $28,000 after acquiring an additional 100 shares in the last quarter. Hantz Financial Services Inc. increased its stake in First Solar by 69.4% during 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 period. Finally, Colonial Trust Advisors acquired a new stake in shares of First Solar during the first quarter worth about $32,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FSLR shares. Guggenheim lifted their price objective on shares of First Solar from $287.00 to $289.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Robert W. Baird boosted their price target 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. Morgan Stanley set a $275.00 price objective on First Solar in a research report on Friday, October 31st. Seaport Global Securities lifted their target price on First Solar from $217.00 to $305.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, Susquehanna boosted their target price on First Solar from $273.00 to $285.00 in a research note on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, First Solar has a consensus rating of “Moderate Buy” and a consensus price target of $269.79.

First Solar Price Performance

First Solar stock opened at $273.04 on Monday. 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 company has a fifty day simple moving average of $243.43 and a 200-day simple moving average of $201.16. The stock has a market cap of $29.30 billion, a P/E ratio of 23.36, a price-to-earnings-growth 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.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 EPS for the quarter, missing the consensus estimate of $4.32 by ($0.08). The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.56 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The business’s quarterly revenue was up 79.7% compared to the same quarter last year. During the same period last year, the company earned $2.91 EPS. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. Equities analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Transactions at First Solar

In other First Solar news, Director Paul H. Stebbins sold 7,000 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $262.40, for a total value of $1,836,800.00. Following the transaction, the director directly owned 15,287 shares in the company, valued at $4,011,308.80. This represents a 31.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael T. Sweeney sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was 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 $3,703,904.82. This represents a 24.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 48,912 shares of company stock valued at $12,971,349. Corporate insiders own 0.48% of the company’s stock.

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.