Union Bancaire Privee UBP SA Acquires 2,326 Shares of First Solar, Inc. $FSLR

Union Bancaire Privee UBP SA boosted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 36.0% in the third quarter, HoldingsChannel reports. The firm owned 8,792 shares of the solar cell manufacturer’s stock after acquiring an additional 2,326 shares during the period. Union Bancaire Privee UBP SA’s holdings in First Solar were worth $1,939,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Public Sector Pension Investment Board increased its stake in shares of First Solar by 6.9% in the first quarter. Public Sector Pension Investment Board now owns 17,200 shares of the solar cell manufacturer’s stock valued at $2,175,000 after buying an additional 1,109 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in First Solar by 12.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,402,357 shares of the solar cell manufacturer’s stock worth $177,295,000 after acquiring an additional 152,757 shares during the last quarter. Raymond James Financial Inc. grew its holdings in First Solar by 57.2% during the 1st quarter. Raymond James Financial Inc. now owns 43,991 shares of the solar cell manufacturer’s stock worth $5,562,000 after acquiring an additional 16,003 shares during the last quarter. Brooklyn Investment Group increased its position in First Solar by 41.5% in the 1st quarter. Brooklyn Investment Group now owns 460 shares of the solar cell manufacturer’s stock valued at $58,000 after acquiring an additional 135 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of First Solar by 3.7% in the first quarter. Northern Trust Corp now owns 1,295,310 shares of the solar cell manufacturer’s stock worth $163,766,000 after acquiring an additional 46,758 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Performance

FSLR stock opened at $254.03 on Thursday. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $281.55. The company has a quick ratio of 1.55, a current ratio of 1.91 and a debt-to-equity ratio of 0.03. The company has a market cap of $27.26 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 0.51 and a beta of 1.59. The business’s fifty day moving average is $252.38 and its 200-day moving average is $209.57.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data 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 27.73% and a return on equity of 16.61%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the company posted $2.91 EPS. The company’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. Equities research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Activity

In related news, Director Michael T. Sweeney sold 4,500 shares of the stock in a transaction that occurred on 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 sale, the director directly owned 13,662 shares in the company, valued at $3,703,904.82. This trade represents a 24.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Georges Antoun sold 37,412 shares of First Solar stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $265.01, for a total transaction of $9,914,554.12. Following the transaction, the insider directly owned 15,424 shares in the company, valued at $4,087,514.24. The trade was a 70.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,912 shares of company stock valued at $12,971,349 in the last ninety days. 0.48% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on FSLR. Deutsche Bank Aktiengesellschaft increased their price target on shares of First Solar from $225.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Guggenheim increased their price objective on First Solar from $287.00 to $289.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. TD Cowen lifted their target price on First Solar from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Wolfe Research upped their price target on First Solar from $232.00 to $247.00 in a research note on Friday, October 31st. Finally, Citigroup lifted their price objective on First Solar from $198.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $270.73.

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.