First Solar, Inc. $FSLR Shares Sold by Avalon Trust Co

Avalon Trust Co lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 4.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,405 shares of the solar cell manufacturer’s stock after selling 6,763 shares during the quarter. First Solar accounts for approximately 1.6% of Avalon Trust Co’s holdings, making the stock its 17th biggest holding. Avalon Trust Co owned 0.12% of First Solar worth $22,084,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. ABN Amro Investment Solutions purchased a new position in First Solar during the 2nd quarter valued at about $15,627,000. Geode Capital Management LLC grew its position in shares of First Solar by 0.9% in the second quarter. Geode Capital Management LLC now owns 2,857,848 shares of the solar cell manufacturer’s stock valued at $471,927,000 after purchasing an additional 26,476 shares during the last quarter. Everett Harris & Co. CA acquired a new stake in shares of First Solar in the second quarter valued at approximately $281,000. PNC Financial Services Group Inc. increased its stake in shares of First Solar by 40.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 20,441 shares of the solar cell manufacturer’s stock worth $3,384,000 after purchasing an additional 5,850 shares in the last quarter. Finally, denkapparat Operations GmbH purchased a new position in shares of First Solar during the 2nd quarter worth approximately $211,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FSLR has been the topic of a number of recent research reports. Mizuho upped their target price on First Solar from $278.00 to $335.00 in a research note on Friday, October 31st. The Goldman Sachs Group reissued a “buy” rating and issued a $316.00 price target on shares of First Solar in a report on Friday, October 31st. Susquehanna upped their price objective on First Solar from $273.00 to $285.00 in a research report on Friday, October 31st. Guggenheim lifted their price objective on First Solar from $287.00 to $289.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, Wells Fargo & Company boosted their target price on shares of First Solar from $213.00 to $270.00 in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $270.17.

First Solar Trading Up 1.3%

NASDAQ FSLR opened at $267.52 on Thursday. The company has a market cap of $28.71 billion, a P/E ratio of 22.88, a P/E/G ratio of 0.46 and a beta of 1.51. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $281.55. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41. The company has a 50-day moving average of $230.76 and a 200-day moving average of $191.07.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). First Solar had a net margin of 28.95% and a return on equity of 15.57%. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the previous year, the firm posted $2.91 earnings per share. First Solar’s revenue for the quarter was up 79.7% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. As a group, equities analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Activity at First Solar

In other news, 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 completion of the sale, the director directly owned 15,287 shares of the company’s stock, valued at $4,011,308.80. The trade was a 31.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Georges Antoun sold 37,412 shares of the company’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 sale, the insider owned 15,424 shares of the company’s stock, valued at approximately $4,087,514.24. The trade was a 70.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 51,233 shares of company stock valued at $13,434,249 over the last quarter. 0.48% of the stock is currently owned by corporate insiders.

First Solar Company 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.