Bank Julius Baer & Co. Ltd Zurich Sells 4,074 Shares of First Solar, Inc. $FSLR

Bank Julius Baer & Co. Ltd Zurich lowered its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 119,455 shares of the solar cell manufacturer’s stock after selling 4,074 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned 0.11% of First Solar worth $19,775,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Wealth Preservation Advisors LLC bought a new stake in shares of First Solar in the first quarter worth $25,000. TD Private Client Wealth LLC increased its stake in First Solar by 126.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock valued at $25,000 after buying an additional 85 shares during the last quarter. Harbor Investment Advisory LLC lifted its position in First Solar by 138.9% during the 2nd quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Hantz Financial Services Inc. lifted its position 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 buying an additional 75 shares in the last quarter. Finally, Colonial Trust Advisors acquired a new position in shares of First Solar during the 1st quarter worth about $32,000. 92.08% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Georges Antoun sold 37,412 shares of First Solar stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $265.01, for a total transaction of $9,914,554.12. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael T. Sweeney sold 4,500 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $271.11, for a total transaction of $1,219,995.00. Following the completion of the transaction, the director owned 13,662 shares in the company, valued at approximately $3,703,904.82. This trade represents a 24.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,912 shares of company stock valued at $12,971,349 over the last ninety days. 0.48% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. UBS Group lifted their target price on First Solar from $275.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Citigroup raised their price target on First Solar from $198.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Seaport Global Securities boosted their price target on First Solar from $217.00 to $305.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Royal Bank Of Canada upped their price objective on First Solar from $201.00 to $244.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Finally, Cowen reissued a “buy” rating on shares of First Solar in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.79.

First Solar Stock Performance

FSLR opened at $245.84 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $281.55. The business has a 50 day moving average of $236.61 and a 200-day moving average of $195.67. The stock has a market cap of $26.38 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 0.46 and a beta of 1.51.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share 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 business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the company posted $2.91 EPS. The firm’s revenue was up 79.7% on a year-over-year basis. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. On average, equities research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

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.