Advisors Asset Management Inc. Has $1.11 Million Holdings in First Solar, Inc. $FSLR

Advisors Asset Management Inc. trimmed its stake in First Solar, Inc. (NASDAQ:FSLR) by 7.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,712 shares of the solar cell manufacturer’s stock after selling 571 shares during the period. Advisors Asset Management Inc.’s holdings in First Solar were worth $1,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of First Solar by 0.4% in the second quarter. Vanguard Group Inc. now owns 13,257,849 shares of the solar cell manufacturer’s stock valued at $2,194,704,000 after buying an additional 57,507 shares during the period. Geode Capital Management LLC raised its holdings in First Solar by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,857,848 shares of the solar cell manufacturer’s stock valued at $471,927,000 after acquiring an additional 26,476 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of First Solar by 17.2% in 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 acquiring an additional 405,457 shares during the period. Invesco Ltd. grew its holdings in shares of 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 purchasing an additional 592,444 shares in the last quarter. Finally, Samlyn Capital LLC increased its position in shares of First Solar by 6.3% during the first quarter. Samlyn Capital LLC now owns 1,741,794 shares of the solar cell manufacturer’s stock valued at $220,215,000 after purchasing an additional 103,403 shares during the period. Institutional investors own 92.08% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on FSLR. TD Cowen raised their target price on First Solar from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Wall Street Zen upgraded shares of First Solar from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Susquehanna raised their price objective on shares of First Solar from $273.00 to $285.00 in a report on Friday, October 31st. Evercore ISI upped their target price on shares of First Solar from $240.90 to $241.00 in a research note on Friday, October 31st. Finally, Bank of America raised their price target on shares of First Solar from $209.00 to $254.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $269.79.

First Solar Trading Up 0.3%

Shares of FSLR opened at $273.04 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The company has a market cap of $29.30 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 0.46 and a beta of 1.51. The stock has a fifty day moving average price of $243.43 and a two-hundred day moving average price of $201.16. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $281.55.

First Solar (NASDAQ:FSLR) last announced its 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 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 the consensus estimate of $1.56 billion. During the same quarter in the previous year, the company posted $2.91 EPS. First Solar’s revenue for the quarter was up 79.7% on a year-over-year basis. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. Analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other First Solar news, Director Paul H. Stebbins sold 7,000 shares of the firm’s stock in a transaction dated 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 sale, the director owned 15,287 shares in the company, valued at approximately $4,011,308.80. This trade represents a 31.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Georges Antoun sold 37,412 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 15,424 shares of the company’s stock, valued at approximately $4,087,514.24. This represents a 70.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,912 shares of company stock valued at $12,971,349 in the last 90 days. 0.48% of the stock is currently owned by insiders.

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.