HB Wealth Management LLC Sells 3,819 Shares of First Solar, Inc. $FSLR

HB Wealth Management LLC decreased its holdings in First Solar, Inc. (NASDAQ:FSLR) by 53.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,308 shares of the solar cell manufacturer’s stock after selling 3,819 shares during the period. HB Wealth Management LLC’s holdings in First Solar were worth $730,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FSLR. SFE Investment Counsel boosted its stake in shares of First Solar by 9.1% during the second quarter. SFE Investment Counsel now owns 69,810 shares of the solar cell manufacturer’s stock valued at $11,556,000 after purchasing an additional 5,852 shares during the period. Atlantic Union Bankshares Corp purchased a new position in First Solar in the 2nd quarter worth about $1,323,000. State Street Corp lifted its holdings in First Solar by 2.1% during the 2nd quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock valued at $881,680,000 after buying an additional 111,927 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in First Solar by 49.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,251 shares of the solar cell manufacturer’s stock valued at $10,471,000 after buying an additional 20,884 shares during the period. Finally, Greenup Street Wealth Management LLC bought a new position in First Solar in the 3rd quarter worth about $2,147,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insider Activity at First Solar

In related news, Director Paul H. Stebbins sold 7,000 shares of First Solar stock in a transaction that occurred 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 sale, the director directly owned 15,287 shares in the company, valued at $4,011,308.80. This trade represents a 31.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael T. Sweeney sold 4,500 shares of the business’s stock in a transaction that occurred on 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 approximately $3,703,904.82. This represents a 24.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 48,912 shares of company stock valued at $12,971,349 in the last three months. 0.48% of the stock is owned by insiders.

First Solar Stock Down 0.3%

First Solar stock opened at $237.83 on Tuesday. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $285.99. The business has a fifty day moving average price of $261.61 and a 200-day moving average price of $223.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.91 and a quick ratio of 1.55. The stock has a market capitalization of $25.52 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 0.29 and a beta of 1.60.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results 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). The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.56 billion. First Solar had a net margin of 27.73% and a return on equity of 16.61%. The company’s quarterly revenue was up 79.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.91 earnings per share. 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 fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FSLR shares. Bank of America lifted their price target on shares of First Solar from $209.00 to $254.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Roth Capital set a $300.00 target price on First Solar in a research report on Friday, October 31st. Morgan Stanley set a $275.00 target price on First Solar in a report on Friday, October 31st. Wall Street Zen upgraded First Solar from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Wells Fargo & Company lifted their price objective on First Solar from $270.00 to $285.00 and gave the company an “overweight” rating in a report on Friday, December 19th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $273.37.

First Solar Company Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.