Candriam S.C.A. Has $14.62 Million Position in First Solar, Inc. $FSLR

Candriam S.C.A. cut its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 46.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,331 shares of the solar cell manufacturer’s stock after selling 76,863 shares during the period. Candriam S.C.A.’s holdings in First Solar were worth $14,623,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Wealth Preservation Advisors LLC bought a new position in First Solar during the first 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 acquiring an additional 85 shares during the period. Harbor Investment Advisory LLC increased its holdings in shares of First Solar by 138.9% during the 2nd quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Hantz Financial Services Inc. raised its stake in First Solar by 69.4% in the 2nd quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock valued at $30,000 after acquiring an additional 75 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in First Solar by 591.9% during the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer’s stock valued at $32,000 after purchasing an additional 219 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Performance

NASDAQ:FSLR opened at $256.59 on Friday. The company has a market cap of $27.53 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 0.46 and a beta of 1.51. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $281.55. 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 stock has a fifty day moving average price of $231.85 and a 200-day moving average price of $191.53.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 EPS 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 company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the firm earned $2.91 EPS. The firm’s revenue for the quarter 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. As a group, equities analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Transactions at First Solar

In related news, insider Georges Antoun sold 37,412 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $265.01, for a total transaction of $9,914,554.12. Following the sale, the insider owned 15,424 shares in the company, valued at approximately $4,087,514.24. This trade represents a 70.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul H. Stebbins sold 7,000 shares of First Solar stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $262.40, for a total transaction of $1,836,800.00. Following the completion of the transaction, the director directly owned 15,287 shares in the company, valued at $4,011,308.80. This trade represents a 31.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 48,912 shares of company stock valued at $12,971,349. Company insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Glj Research raised their target price on shares of First Solar from $214.06 to $314.43 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Wolfe Research upped their target price on First Solar from $232.00 to $247.00 in a research report on Friday, October 31st. Cowen reissued a “buy” rating on shares of First Solar in a report on Friday, October 31st. Royal Bank Of Canada upped their price objective on First Solar from $201.00 to $244.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Finally, JPMorgan Chase & Co. lifted their target price on First Solar from $278.00 to $303.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Two 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $269.79.

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.