Koshinski Asset Management Inc. Grows Stake in First Solar, Inc. $FSLR

Koshinski Asset Management Inc. increased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 18.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,230 shares of the solar cell manufacturer’s stock after buying an additional 348 shares during the quarter. Koshinski Asset Management Inc.’s holdings in First Solar were worth $369,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in First Solar by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer’s stock worth $1,668,919,000 after buying an additional 378,641 shares during the last quarter. Wellington Management Group LLP grew its stake in First Solar by 17.2% during the 1st quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer’s stock worth $349,617,000 after buying an additional 405,457 shares during the last quarter. Invesco Ltd. grew its stake in First Solar by 32.3% during the 1st quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer’s stock worth $306,909,000 after buying an additional 592,444 shares during the last quarter. Samlyn Capital LLC grew its stake in First Solar by 6.3% during the 1st quarter. Samlyn Capital LLC now owns 1,741,794 shares of the solar cell manufacturer’s stock worth $220,215,000 after buying an additional 103,403 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in First Solar by 20.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,741,026 shares of the solar cell manufacturer’s stock worth $220,118,000 after buying an additional 290,112 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

FSLR has been the topic of several analyst reports. Glj Research reiterated a “buy” rating and issued a $214.06 target price (up from $172.53) on shares of First Solar in a research note on Tuesday, August 12th. Jefferies Financial Group lifted their target price on First Solar from $212.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Susquehanna lifted their target price on First Solar from $222.00 to $273.00 and gave the company a “positive” rating in a research note on Monday, October 13th. Bank of America lifted their target price on First Solar from $209.00 to $254.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, The Goldman Sachs Group lifted their target price on First Solar from $283.00 to $293.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and an average target price of $242.32.

Insider Buying and Selling at First Solar

In related news, CAO Nathan B. Theurer sold 686 shares of First Solar stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total transaction of $124,872.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark R. Widmar sold 23,912 shares of First Solar stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total value of $4,434,958.64. Following the transaction, the chief executive officer directly owned 87,978 shares of the company’s stock, valued at approximately $16,317,279.66. This represents a 21.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,715 shares of company stock valued at $5,733,305. 0.48% of the stock is currently owned by insiders.

First Solar Stock Down 1.2%

FSLR opened at $229.00 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41. The business has a 50 day simple moving average of $211.82 and a 200-day simple moving average of $176.28. The stock has a market capitalization of $24.56 billion, a P/E ratio of 19.59, a P/E/G ratio of 0.44 and a beta of 1.38. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $248.04.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating the consensus estimate of $2.68 by $0.50. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, equities analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

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.