First Solar, Inc. $FSLR Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in First Solar, Inc. (NASDAQ:FSLR) by 10.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 34,473 shares of the solar cell manufacturer’s stock after purchasing an additional 3,238 shares during the period. Envestnet Asset Management Inc.’s holdings in First Solar were worth $5,707,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. New York State Common Retirement Fund increased its holdings in First Solar by 1.8% during the 1st quarter. New York State Common Retirement Fund now owns 66,960 shares of the solar cell manufacturer’s stock valued at $8,466,000 after acquiring an additional 1,200 shares in the last quarter. Stephens Inc. AR purchased a new stake in shares of First Solar in the first quarter valued at about $2,106,000. Signaturefd LLC grew its position in shares of First Solar by 11.6% in the first quarter. Signaturefd LLC now owns 985 shares of the solar cell manufacturer’s stock valued at $125,000 after purchasing an additional 102 shares during the last quarter. Larson Financial Group LLC grew its position in shares of First Solar by 591.9% in the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer’s stock valued at $32,000 after purchasing an additional 219 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of First Solar by 7.0% during the 1st quarter. Victory Capital Management Inc. now owns 38,762 shares of the solar cell manufacturer’s stock worth $4,901,000 after purchasing an additional 2,519 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FSLR shares. Royal Bank Of Canada upped their target price on First Solar from $201.00 to $244.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. UBS Group boosted their price target on First Solar from $275.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $316.00 price objective on shares of First Solar in a research note on Friday, October 31st. JPMorgan Chase & Co. lifted their price objective on First Solar from $278.00 to $303.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Finally, Guggenheim boosted their target price on shares of First Solar from $287.00 to $289.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $270.17.

First Solar Stock Performance

First Solar stock opened at $267.52 on Thursday. The stock has a fifty day moving average price of $230.76 and a 200 day moving average price of $191.07. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $281.55. The firm has a market capitalization of $28.71 billion, a P/E ratio of 22.88, a PEG ratio of 0.46 and a beta of 1.51. 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 posted its quarterly 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 28.95% and a return on equity of 15.57%. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the firm earned $2.91 EPS. The firm’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. Equities research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Activity at First Solar

In other news, CEO Mark R. Widmar sold 2,321 shares of the company’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $199.44, for a total transaction of $462,900.24. Following the completion of the sale, the chief executive officer directly owned 81,861 shares in the company, valued at $16,326,357.84. This represents a 2.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Paul H. Stebbins sold 7,000 shares of First Solar stock in a transaction on Friday, November 7th. The shares were sold at an average price of $262.40, for a total value of $1,836,800.00. Following the completion of the transaction, the director owned 15,287 shares in the company, valued at $4,011,308.80. The trade was a 31.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 51,233 shares of company stock worth $13,434,249. Company insiders own 0.48% of the company’s stock.

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.