First Solar, Inc. $FSLR Shares Acquired by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 10.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 394,467 shares of the solar cell manufacturer’s stock after acquiring an additional 35,960 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned about 0.37% of First Solar worth $65,300,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. SFE Investment Counsel grew its stake in First Solar by 9.1% during the 2nd quarter. SFE Investment Counsel now owns 69,810 shares of the solar cell manufacturer’s stock valued at $11,556,000 after purchasing an additional 5,852 shares during the last quarter. Cetera Investment Advisers raised its stake 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 worth $3,216,000 after purchasing an additional 2,510 shares during the last quarter. Raymond James Financial Inc. lifted its holdings 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 worth $5,562,000 after purchasing an additional 16,003 shares during the period. Sumitomo Mitsui Financial Group Inc. boosted its position in First Solar by 18.2% in 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 last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in First Solar in the 2nd quarter worth approximately $1,323,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at First Solar

In other news, Director Michael T. Sweeney sold 4,500 shares of the firm’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 value of $1,219,995.00. Following the transaction, the director owned 13,662 shares in the company, valued at $3,703,904.82. This trade represents a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Georges Antoun sold 37,412 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $265.01, for a total value of $9,914,554.12. Following the sale, the insider owned 15,424 shares of the company’s stock, valued at $4,087,514.24. The trade was a 70.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 48,912 shares of company stock valued at $12,971,349 over the last 90 days. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of First Solar from $278.00 to $303.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Roth Capital set a $300.00 price objective on First Solar in a research note on Friday, October 31st. Guggenheim raised their target price on First Solar from $287.00 to $289.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Wolfe Research boosted their price target on First Solar from $232.00 to $247.00 in a report on Friday, October 31st. Finally, Seaport Global Securities raised their price objective on shares of First Solar from $217.00 to $305.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $269.79.

First Solar Stock Up 4.6%

Shares of FSLR opened at $272.21 on Friday. The firm has a market cap of $29.21 billion, a P/E ratio of 23.29, a PEG 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. The stock’s 50 day moving average is $242.22 and its two-hundred day moving average is $200.22. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing the consensus estimate of $4.32 by ($0.08). First Solar had a return on equity of 15.57% and a net margin of 28.95%.The business 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 company earned $2.91 earnings per share. The company’s quarterly 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. Analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

First Solar 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.