Charles Schwab Investment Management Inc. Sells 11,842 Shares of First Solar, Inc. $FSLR

Charles Schwab Investment Management Inc. reduced its stake in First Solar, Inc. (NASDAQ:FSLR) by 1.5% during the second quarter, HoldingsChannel reports. The firm owned 793,956 shares of the solar cell manufacturer’s stock after selling 11,842 shares during the period. Charles Schwab Investment Management Inc.’s holdings in First Solar were worth $131,431,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FSLR. TD Private Client Wealth LLC raised its position in shares of First Solar by 126.9% during the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock valued at $25,000 after buying an additional 85 shares in the last quarter. Harbor Investment Advisory LLC grew its position in First Solar by 138.9% in the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Hantz Financial Services Inc. increased its stake in First Solar by 69.4% in the second quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock valued at $30,000 after acquiring an additional 75 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new stake in First Solar during the first quarter valued at about $25,000. Finally, First Pacific Financial bought a new stake in First Solar during the second quarter worth about $41,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Trading Up 4.6%

FSLR opened at $272.21 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $281.55. The stock has a market cap of $29.21 billion, a PE ratio of 23.29, a PEG ratio of 0.46 and a beta of 1.51. The business has a 50 day moving average of $242.22 and a 200-day moving average of $200.22.

First Solar (NASDAQ:FSLR) last issued its quarterly 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). The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.56 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.First Solar’s revenue for the quarter was up 79.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.91 earnings per share. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. Equities research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FSLR shares. Glj Research raised their price objective on First Solar from $214.06 to $314.43 and gave the company a “buy” rating in a report on Tuesday, November 4th. KeyCorp reiterated an “overweight” rating on shares of First Solar in a research report on Friday, October 31st. DZ Bank lowered shares of First Solar from a “strong-buy” rating to a “hold” rating in a report on Friday, October 31st. Guggenheim upped their price objective 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. Finally, Citigroup lifted their target price on shares of First Solar from $198.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.79.

Insider Buying and Selling

In related news, Director Paul H. Stebbins sold 7,000 shares of First Solar stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $262.40, for a total transaction of $1,836,800.00. Following the completion of the transaction, the director directly owned 15,287 shares of the company’s stock, valued at $4,011,308.80. This trade represents a 31.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the director directly owned 13,662 shares in the company, valued at $3,703,904.82. The trade was a 24.78% 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 worth $12,971,349 in the last three months. 0.48% of the stock is owned by corporate insiders.

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.