Intact Investment Management Inc. Invests $1.28 Million in First Solar, Inc. $FSLR

Intact Investment Management Inc. purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,780 shares of the solar cell manufacturer’s stock, valued at approximately $1,275,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. TD Private Client Wealth LLC boosted its holdings in shares of First Solar by 126.9% in the second quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock worth $25,000 after acquiring an additional 85 shares during the period. Strategic Wealth Investment Group LLC bought a new stake in shares of First Solar during the 2nd quarter valued at $26,000. Hantz Financial Services Inc. lifted its holdings in First Solar by 69.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock worth $30,000 after purchasing an additional 75 shares in the last quarter. Total Investment Management Inc. bought a new position in First Solar in the 2nd quarter worth about $36,000. Finally, First Pacific Financial purchased a new position in First Solar during the 2nd quarter valued at about $41,000. 92.08% of the stock is owned by institutional investors.

First Solar Stock Up 0.3%

NASDAQ FSLR opened at $242.97 on Tuesday. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $285.99. The stock has a market capitalization of $26.07 billion, a PE ratio of 18.66, a PEG ratio of 0.31 and a beta of 1.60. 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 business’s 50-day moving average is $257.05 and its 200 day moving average is $228.40.

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 for the quarter, compared to the consensus estimate of $1.56 billion. First Solar had a net margin of 27.73% and a return on equity of 16.61%. The company’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 EPS. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. Sell-side analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Wall Street Analyst Weigh In

FSLR has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of First Solar from $270.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Daiwa Capital Markets increased their target price on shares of First Solar from $215.00 to $284.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Guggenheim boosted their price target on shares of First Solar from $289.00 to $312.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Susquehanna upped their price target on shares of First Solar from $285.00 to $292.00 and gave the stock a “positive” rating in a report on Wednesday, January 21st. Finally, KeyCorp reissued an “overweight” rating on shares of First Solar in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $276.76.

Insider Buying and Selling

In related news, insider Georges Antoun sold 37,412 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $265.01, for a total value of $9,914,554.12. Following the completion of the sale, the insider owned 15,424 shares of the company’s stock, valued at $4,087,514.24. This trade represents a 70.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul H. Stebbins sold 7,000 shares of the business’s stock in a transaction on 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 transaction, the director directly owned 15,287 shares in the company, valued at approximately $4,011,308.80. The trade was a 31.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 48,912 shares of company stock valued at $12,971,349 over the last quarter. 0.48% of the stock is owned by company insiders.

About First Solar

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.