3,700 Shares in First Solar, Inc. $FSLR Purchased by Board of the Pension Protection Fund

Board of the Pension Protection Fund acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,700 shares of the solar cell manufacturer’s stock, valued at approximately $816,000.

A number of other large investors also recently modified their holdings of the stock. Norges Bank bought a new stake in First Solar during the second quarter worth $212,621,000. Viking Global Investors LP boosted its holdings in First Solar by 60.6% during the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after acquiring an additional 854,919 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of First Solar by 16,857.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 759,033 shares of the solar cell manufacturer’s stock worth $95,965,000 after acquiring an additional 754,557 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of First Solar by 22,107.8% in the first quarter. Jones Financial Companies Lllp now owns 512,556 shares of the solar cell manufacturer’s stock valued at $64,802,000 after purchasing an additional 510,248 shares during the last quarter. Finally, Hill City Capital LP raised its holdings in shares of First Solar by 59.4% in the first quarter. Hill City Capital LP now owns 1,355,000 shares of the solar cell manufacturer’s stock valued at $171,313,000 after purchasing an additional 505,000 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

Insider Buying and Selling

In other news, Director Michael T. Sweeney sold 4,500 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $271.11, for a total value of $1,219,995.00. Following the sale, the director directly owned 13,662 shares of the company’s stock, valued at approximately $3,703,904.82. This represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Georges Antoun sold 37,412 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 SEC filing for this sale provides additional information. In the last quarter, insiders have sold 48,912 shares of company stock valued at $12,971,349. Corporate insiders own 0.48% of the company’s stock.

First Solar Stock Up 2.0%

First Solar stock opened at $266.98 on Friday. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $281.55. The firm has a market capitalization of $28.65 billion, a price-to-earnings ratio of 20.51, a P/E/G ratio of 0.51 and a beta of 1.59. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. The firm has a 50 day simple moving average of $253.75 and a 200 day simple moving average of $210.75.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.32 by ($0.08). First Solar had a return on equity of 16.61% and a net margin of 27.73%.The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the company earned $2.91 EPS. The company’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, analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

FSLR has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on shares of First Solar from $270.00 to $285.00 and gave the stock an “overweight” rating in a research report on Friday. Weiss Ratings restated a “hold (c+)” rating on shares of First Solar in a research note on Monday. Daiwa Capital Markets upped their target price on First Solar from $215.00 to $284.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Morgan Stanley set a $275.00 price target on First Solar in a research report on Friday, October 31st. Finally, Barclays reiterated an “overweight” rating and set a $279.00 price target on shares of First Solar in a report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $271.27.

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.