First Solar, Inc. $FSLR Shares Acquired by Truist Financial Corp

Truist Financial Corp increased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 8.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,855 shares of the solar cell manufacturer’s stock after buying an additional 443 shares during the period. Truist Financial Corp’s holdings in First Solar were worth $969,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in First Solar by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer’s stock worth $1,668,919,000 after buying an additional 378,641 shares during the period. Wellington Management Group LLP increased its stake in First Solar by 17.2% during 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 buying an additional 405,457 shares during the period. Invesco Ltd. increased its stake in 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 buying an additional 592,444 shares during the period. Samlyn Capital LLC increased its stake in First Solar by 6.3% during the 1st quarter. Samlyn Capital LLC now owns 1,741,794 shares of the solar cell manufacturer’s stock worth $220,215,000 after buying an additional 103,403 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in First Solar by 20.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,741,026 shares of the solar cell manufacturer’s stock worth $220,118,000 after buying an additional 290,112 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Guggenheim lifted their price target on shares of First Solar from $202.00 to $287.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of First Solar in a report on Wednesday, October 8th. Royal Bank Of Canada raised their price objective on shares of First Solar from $188.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday, July 1st. Evercore ISI initiated coverage on shares of First Solar in a report on Monday, October 6th. They set an “in-line” rating and a $240.00 price objective for the company. Finally, UBS Group reiterated a “buy” rating and issued a $275.00 target price (up previously from $255.00) on shares of First Solar in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.04.

Insider Buying and Selling at First Solar

In other First Solar news, CEO Mark R. Widmar sold 2,321 shares of First Solar 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 sale, the chief executive officer owned 81,861 shares of the company’s stock, valued at $16,326,357.84. The trade was a 2.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Nathan B. Theurer sold 686 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total transaction of $124,872.58. The disclosure for this sale can be found here. Insiders have sold a total of 30,715 shares of company stock worth $5,733,305 in the last ninety days. 0.48% of the stock is owned by company insiders.

First Solar Trading Up 0.1%

First Solar stock opened at $226.15 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $206.95 and a two-hundred day moving average price of $172.65. The firm has a market capitalization of $24.25 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 0.45 and a beta of 1.38. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $237.20.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.50. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.57%. First Solar’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Sell-side analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

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.