Edmond DE Rothschild Holding S.A. Buys Shares of 8,392 First Solar, Inc. $FSLR

Edmond DE Rothschild Holding S.A. purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,392 shares of the solar cell manufacturer’s stock, valued at approximately $1,389,000.

A number of other institutional investors also recently made changes to their positions in the stock. SFE Investment Counsel boosted its stake in shares of First Solar by 9.1% during the 2nd quarter. SFE Investment Counsel now owns 69,810 shares of the solar cell manufacturer’s stock worth $11,556,000 after purchasing an additional 5,852 shares during the last quarter. Cetera Investment Advisers raised its position in shares of First Solar by 10.9% in the first quarter. Cetera Investment Advisers now owns 25,437 shares of the solar cell manufacturer’s stock valued at $3,216,000 after buying an additional 2,510 shares during the last quarter. Raymond James Financial Inc. lifted its stake in shares of First Solar by 57.2% during the first quarter. Raymond James Financial Inc. now owns 43,991 shares of the solar cell manufacturer’s stock valued at $5,562,000 after buying an additional 16,003 shares during the period. Sumitomo Mitsui Financial Group Inc. lifted its stake in shares of First Solar by 18.2% during the first quarter. Sumitomo Mitsui Financial Group Inc. now owns 101,659 shares of the solar cell manufacturer’s stock valued at $12,853,000 after buying an additional 15,656 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new stake in First Solar during the second quarter worth approximately $1,323,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wall Street Zen upgraded First Solar from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Hsbc Global Res raised First Solar to a “strong-buy” rating in a research report on Friday, August 1st. Roth Capital set a $300.00 target price on First Solar in a research report on Friday, October 31st. Wolfe Research raised their price target on First Solar from $232.00 to $247.00 in a research note on Friday, October 31st. Finally, Needham & Company LLC assumed coverage on First Solar in a report on Wednesday, October 22nd. They issued a “buy” rating and a $286.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $269.79.

First Solar Stock Performance

NASDAQ FSLR opened at $272.21 on Thursday. 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 1-year low of $116.56 and a 1-year high of $281.55. The firm has a market capitalization of $29.21 billion, a P/E ratio of 23.29, a P/E/G ratio of 0.46 and a beta of 1.51. The business’s 50-day simple moving average is $240.97 and its 200-day simple moving average is $199.72.

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

Insider Activity at First Solar

In other First Solar news, Director Michael T. Sweeney sold 4,500 shares of the business’s stock in a transaction dated 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 transaction, the director owned 13,662 shares in the company, valued at $3,703,904.82. The trade was a 24.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul H. Stebbins sold 7,000 shares of the company’s stock in a transaction dated 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 directly owned 15,287 shares of the company’s stock, valued at $4,011,308.80. The trade was a 31.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 48,912 shares of company stock worth $12,971,349. 0.48% of the stock is currently owned by corporate insiders.

First Solar Company Profile

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.