Verdence Capital Advisors LLC Makes New Investment in First Solar, Inc. $FSLR

Verdence Capital Advisors LLC bought a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,888 shares of the solar cell manufacturer’s stock, valued at approximately $1,519,000.

A number of other institutional investors and hedge funds also recently modified their holdings of FSLR. Courier Capital LLC grew its position in shares of First Solar by 11.4% during the 3rd quarter. Courier Capital LLC now owns 11,164 shares of the solar cell manufacturer’s stock valued at $2,462,000 after buying an additional 1,143 shares during the last quarter. Allstate Corp bought a new position in First Solar in the third quarter worth about $815,000. Wealth Enhancement Advisory Services LLC boosted its stake in First Solar by 18.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,213 shares of the solar cell manufacturer’s stock valued at $2,555,000 after acquiring an additional 1,771 shares during the period. DMC Group LLC bought a new position in shares of First Solar during the third quarter valued at approximately $662,000. Finally, Lmcg Investments LLC acquired a new stake in shares of First Solar during the 3rd quarter worth approximately $223,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Paul H. Stebbins sold 7,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $262.40, for a total value of $1,836,800.00. Following the completion of the sale, the director 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 filing with the SEC, which is available through this link. Also, Director Michael T. Sweeney sold 4,500 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $271.11, for a total value of $1,219,995.00. Following the transaction, the director directly 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. Insiders sold 48,912 shares of company stock worth $12,971,349 over the last ninety days. Company insiders own 0.48% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $242.11 on Wednesday. The stock has a market cap of $25.98 billion, a P/E ratio of 18.60, a P/E/G ratio of 0.30 and a beta of 1.60. The firm’s 50-day simple moving average is $258.30 and its 200 day simple moving average is $226.32. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $285.99. The company has a quick ratio of 1.55, a current ratio of 1.91 and a debt-to-equity ratio of 0.03.

First Solar (NASDAQ:FSLR) last released 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). First Solar had a net margin of 27.73% and a return on equity of 16.61%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the business posted $2.91 EPS. The firm’s quarterly revenue was up 79.7% on a year-over-year basis. 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 year.

Analysts Set New Price Targets

FSLR has been the subject of a number of analyst reports. Roth Capital set a $300.00 price objective on First Solar in a research report on Friday, October 31st. BMO Capital Markets boosted their price target on shares of First Solar from $273.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Needham & Company LLC started coverage on shares of First Solar in a report on Wednesday, October 22nd. They set a “buy” rating and a $286.00 price target for the company. Royal Bank Of Canada increased their price objective on shares of First Solar from $244.00 to $258.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Glj Research lifted their price objective on shares of First Solar from $214.06 to $314.43 and gave the company a “buy” rating in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $277.34.

First Solar Company Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin?film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility?scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.